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3 simple steps to get Startup India recognition for you business online with Filemydoc.com
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The Startup India Scheme is an initiative by the government of India aimed at encouraging the development and innovation of products and services and the creation of employment opportunities across the country. One of the goals of the scheme has been simplifying how to register a startup in India by reducing regulatory burdens and allowing them to focus on their core business while keeping compliance costs low and also providing multiple benefits, aside from the massive networking opportunities provided by the bi-annual startup festivals held by the Government of India both domestically and internationally.
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Here are the main benefits of Startup India:
An organisation will be eligible under the scheme if:
Listed below are the documents and details required for Startup India registration.
The most important step is to register the company as one of only three possible types of entities:
We make your interaction with the government as smooth as possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
A startup defined as an entity that is headquartered in India, which was opened less than 10 years ago and has an annual turnover of less than ₹100 crores (US$14 million).
Most small businesses take at least 2 to 3 years to be profitable and become truly successful once they've hit the 7 to 10 years mark.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
Any individual, or even a company or an LLP, can become a partner. However, only an individual can become a 'designated partner' in an LLP.
Typically, only start-ups that will not be looking for venture capital funding register LLPs. This is because venture capitalists only invest in private and public limited companies.
Yes, it is much cheaper to run an LLP than a private limited company, particularly in your early start-up days. This is because many compliances, such as an audit, apply to LLPs only after their turnover is sizable. Most LLPs spend about half as much as a private limited company in their first year on registrations and compliance work.
According to the Economic Times, as of 2020, the top-earning businesses in India are from the financial services, transport and support services, aerospace, defence, and security services, technology services, and health and education services.
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