OTHERS Business Set up in India- Startup India scheme Benefits

Business Set up in India- Startup India scheme Benefits

Business Set up in India- Startup India scheme Benefits

Business Set up in India- Startup India scheme

For expanding business across the international frontiers is considered as an important aspect for the business to establish milestone. Rapid economy growth with resources and inexpensive labors makes India the topmost choice for the business owners to establish a business in. Apart from that, strong macro-economic fundamentals and vast investment opportunities make India a favorite destination for across the world. Business Set up in India accounts to the procedure’s matters involving complications that sought after smooth processing to broaden the aspect of expanding growth. 
For Business set up in India, Rajput Jain & Associates provide a business set up a solution that redeems you of all the pains involving the approvals, registration of authorities and helps you establish a business in the shortest possible time. Rajput Jain & Associates share considerable experience in assisting entrepreneurs who successfully have worked for both Indian and offshore clients. Drafting of Memorandum of Association and Article of Associations for the new company set up, completion of the company registrar’s legal requirements, Registration under GST, SEZ registration, Assistance in the opening of the liaison office, Project office/ Branch office, wholly-owned subsidiary, etc.

Benefits of Startups under the startup India scheme

  • Compliance regime based on self-certification
  • The objective of a compliance regime based on self-certification is to reduce the regulatory burden on startups. This self-certification will apply to laws like payment of gratuity, contract labor, employees provident fund, water, and air pollution acts.
  • Startup India hub
  • A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding.
  • Simplifying the startup process
  • A startup will be to able to set up by just filling up a short form through a mobile app and online portal.  A mobile app will be launched on April 1 through which startups can be registered in a day. There will also be a portal for clearances, approvals and registrations
  • Patent protection
  • The government is also working on legal support for fast-tracking patent examination at lower costs. It will promote awareness and adoption of Intellectual Property Rights (IPRs) by startups and help them protect and commercialize IPRs.
  • Funds of funds with a corpus of Rs 10,000 crore
  • In order to provide funding support to startups, the government will set up a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years. The fund would be managed by private professionals drawn from the industry while LIC will be a co-investor in the fund. The credit guarantee fund for start-ups would help the flow of venture debt from the banking system to start-ups by standing guarantee against risks.
  • Credit Guarantee Fund
  • A National Credit Guarantee Trust Company is being envisaged with a budgetary allocation of Rs 500 crore per year for the next four years.
  • Exemption from Capital Gains Tax
  • Currently, investments by venture capital funds in startups are exempt from this law. Now, the same is being extended to investments made by incubators in startups.
  • Tax exemption for startups
  • Income tax exemption to startups announced for three years
  • Tax exemption on investments above Fair Market Value
  • Startup fests
  • Innovation core programs for students in 5 lakh schools. There will also be an annual incubator grand challenge to create world class incubators
  • Launch of Atal Innovation Mission
  • Atal Innovation Mission started to give an impetus to innovation and encourage the talent among the people
  • Setting up of 35 new incubators in institutions     
  • PPP model being considered for 35 new incubators, 31 innovation centers at national institutes
  • Setting up of 7 new research parks
  • The government shall set up seven new research parks – six in IITs, one in IISc with an initial investment of Rs 100 crore each.
  • Promote entrepreneurship in biotechnology
  • Five new bio clusters, 50 new bio incubators, 150 technology transfer offices, and 20 bios connect offices will be established.
  • Innovation focused programs for students
  • There will be innovation core programs for students in 5 lakh schools.
  • A panel of facilitators to provide legal support and assist in the filing of patent application
  • 80 percent rebate on filling patent applications by startups
  • Relaxed norms of public procurement for startups
  • Faster exits for startups

We also provide services of opening and operating a bank account in India with all the major international banks. Our personal tax and financial planning are aimed at maximizing business growth and minimize bills regarding tax. We help you achieve cost-effective fiscal compliance and guide you through the important areas to be conquered for a successful business set up in India. We act as a single contact for all the compliances and services necessitated by foreign investors to establish a business in India.  

Disclaimer: The content of this post isn't considered to be professional or legal advice, We aren't responsible for any damages arising from your access to the location content & must not be relied on or used as a substitute for legal advice from a lawyer professional in your jurisdiction. CARajput is among India's big digital compliance services platform which committed to helping people have started & developed their businesses. We had started with the goal of creating it easier for start-ups to start out their business. Our main aim is to assist the businessman with applicable laws & regulations compliance and providing support at each & every level to make sure the business stays compliant and growing continuously. For any query, help or feedback you may in touch on singh@carajput.com or Call or what’s-up on 9-555-555-480

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