1. The start-up must be registered as a Private Company, LLP or Partnership Firm.
2. The start-up should not be formed out of splitting or reconstructing of a existing business.
3. Not more than 5 years must have elapsed since incorporation.
4. To be eligible startup under this scheme, it must not have an annual turnover of more than Rs. 25 crores in any of the past 5 years since its incorporation.
5.The start-up must be working towards innovation, development, deployment or commercialisation of a new product, process or service driven by technology or intellectual Property.

1. Easy application: Government of India has launched a mobile app and a website for easy registration for startups. Anyone interested in setting up a startup can fill up a simple form on the website and upload certain documents. The entire process is completely online.
2. Startups will enjoy 80% reduction in cost of filing patents.
3. 10,000 crore rupees fund is set-up by government to provide funds to the startups as venture capital.
Tax holiday for 3 Years
4. Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).
5. Seven new Research Parks will be set up to provide facilities to startups in the R&D sector
6. Startups shall be allowed to self-certify compliance (through the Startup mobile app) with 9 labour and 3 environment laws (for list of white industries which are eligible under self-compliance – click here” )
7. People investing their capital gains in the venture funds setup by government will get exemption from capital gains. This will help startups to attract more investors.
8. In case of exit – A startup can close its business within 90 days from the date of application of winding up
9. Government has proposed to hold 2 startup fests annually both nationally and internationally to enable the various stakeholders of a startup to meet. This will provide huge networking opportunities.

You can start a Private Limited Company with any amount of capital. Though the fees must be paid to the Government of India for issuing a minimum of shares worth INR. 1 Lac. This amount is treated as an authorized capital fees during the registration of the company. There is no requirement to show the proof of capital invested during the registration process.

1. It provides creditability to business in the eyes of financial institutions, suppliers and potential clients.
2. It is easier for companies to get loans at favorable terms from banks or convincing potential clients while entering into deals.
3. Limited Liability: It is the status of being legally responsible only to a limited amount for debts of a company.

This is a certificate issued by the Registrar of Companies House to document the incorporation of the company. The certificate will record the company name, number and the date the company is incorporated.

Yes Of course, a NRI or Foreign National can be a Director in a Private Limited Company after obtaining Director Identification Number. However, at least 1 Director on the Board of Directors must be a Resident of India.