How to setup startup in India?
Setting up a startup in India involves several steps and procedures. Here are some steps you can follow:
Choose a business structure: Decide on the business structure for your startup. You can register your startup as a Private Limited Company, Partnership Firm, One Person Company, or Limited Liability Partnership.
Choose a name for your startup: Choose a unique name for your startup that is not already registered with the Registrar of Companies (RoC).
Get a Digital Signature Certificate (DSC): A DSC is a digital signature that authenticates the identity of the signatory of electronic documents. You can get a DSC from any certified agency.
Obtain Director Identification Number (DIN): DIN is a unique identification number assigned to every director of a company. You can obtain DIN by filing Form DIR-3 on the MCA portal.
Register your company with RoC: You need to register your company with the RoC in the state where you want to set up your startup. You will need to submit various documents like MOA (Memorandum of Association), AOA (Articles of Association), and other necessary documents.Obtain PAN and TAN: PAN (Permanent Account Number) is a unique 10-digit alphanumeric number issued by the Income Tax Department, while TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric number issued to companies for deducting TDS (Tax Deducted at Source). You can apply for PAN and TAN online.
Open a Bank Account: Open a bank account in the name of your startup. You will need to provide the necessary documents like PAN, TAN, and incorporation certificate to open a bank account.
Apply for any necessary licenses and permits: Depending on the type of business, you may need to apply for various licenses and permits from the concerned authorities.
Get funding: Once you have set up your startup, you can start looking for investors to fund your business.
These are some of the basic steps to set up a startup in India. However, the process can vary depending on the type of business and the state in which you want to set up your startup.Read more