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Dreamunicus is one of the leading online legal service provider. We have 50,000+ satisfied clients today at Dreamunicus. Created by the Industry leader, Dreamunicus provides a dedicated team of professionals for each client who ensures that the work is done within the time frame.

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Some Important Government Schemes For Start-Ups In India

Dreamunicus offers the following services from their experts to boost your business.

Venture Capital Scheme

This Scheme is for financial support in the form of an interest-free (0%) loan provided by the SAFC (Small Farmer’s Agri-Business Consortium) to qualifying projects to fulfil the shortfall in the capital requirement for the project implementation.

100% Tax Exemption u/s 80-IC of the Income Tax Act:

The eligible Start-ups with strong execution in their plan and possible innovation to benefits the public at large can apply for 100% tax subsidiary for 10 years.

EPCG Scheme:

The Zero Duty EPCG Scheme is for exporters of electronic products. This EPCG Scheme allows the import of capital goods or products for pre-production, production, and post-production.

Small Business Innovation Research Initiative (SBIRI):

This Scheme of the Department of Biotechnology (DoB), Ministry of Science & Technology, was launched in 2005 to boost PPP or Public-Private-Partnership efforts in the country.

STP Scheme or Software Technology Park Scheme:

This Scheme is a 100% Export Oriented Scheme for the development & export of computer software, including the export of professional services using communication links or physical media.

PRISM Scheme:

Promoting Innovations in Individuals, Start-ups & MSMEs Scheme aims to support individual innovators, which will enable them to achieve the agenda of comprehensive development.

Different Types Of Companies In India

Private Limited Company Registration:

Private Limited Companies in India are best for businesses that require Private Company Registration as private entities. In this type of company, a group of shareholders distribute the liability amongst themselves to help protect their personal assets. The total capital of this type of business is the total of all the shares held by each member of the company. Also, the business & personal assets of the members are considered separate, allowing for better security & protection. The shares of such type of company cannot be publicly transferred or traded.

LLP:

LLP stands for Limited Liability Partnership is a new & different type of Company in India. LLPs are flexible legal & tax entity that allows partners to benefit from economies of scale by working together while also reducing their liability for the actions of other partners.

OPC or One Person Company:

One Person Company is a company registered by a single person. Before the enforcement of the Companies Act, 2013, a single person or individual could not establish a Company. If a person or an individual wanted to establish their business, then they could opt only for a sole proprietorship as there had to be a minimum of 2 directors & 2 members to establish a company. According to Section 2(62) of the Companies Act, 2013, a Company can be formed with just one Director & one Member. It’s a form of a Company where the compliance requirements are lesser than that of a Private Company.

Public Limited Company:

A Public Limited Company is the best suited business structure for entrepreneurs who are planning for large scale business operations in India. To register a Public Limited Company there should be a minimum of 7 members & there is no such limit on the maximum number of shareholders for commencing a Public Limited Company.

Benefits Of Startup Company Registration

Limited Liability Protection to Directors Personal Assets:

Numerous times startups need to borrow money & take things on credit. In case of normal partnerships, Partners personal savings & property would be at risk in case business is not able to repay its loans. In a Pvt. Ltd. Company, only investment in business is lost, and Directors’ personal assets are safe.

Easy to Sell:

Pvt. Ltd. Company is easy to sell, very less cost & documentation is required for selling a Private Limited Company.

Easily Attract Employess:

For startups putting together a robust team & keeping them for long time is a challenge, due to confidence attached to Private Limited Structure, it’s very easy to hire people and motivate them with corporate designations & stock options.

Easy to get Loans and Raise Funds:

Private Limited Company enjoys wide options to raise funds through bank loans, Venture Capitalists, Angel Investors in comparison to One Person Companies and Limited Liability Partnerships.

Give Better Image & Credibility in the Market:

Pvt. Ltd. Company is very popular business structure. Corporate customers, Government Agencies & Vendors prefer to deal with Private Limited Company instead of proprietorship or normal proprietorship.

Company Registration Work Flow

Name Approval:

Based on the Name and trademark search we will apply for Name Approval from MCA (Ministry of Corporate Affairs )

DIN (Director Identification No):

As per the Companies act we need a minimum of two (2) Co-founders to register a company and hence at least one must be a resident of India.

Registered office Selection:

As an Entrepreneur, you can select your current residence as a Registered office for the proposed company whether it’s rented or owned by you does not matter.

Incorporation Form Filling to MCA:

After you upload all documents on the website or upload via the Corpbiz Mobile app, We will file the Incorporation form to the MCA and within 3-4 Days you will receive an Incorporation certificate, PAN, and TAN

Bank account Opening:

We have tie-ups with a Leading scheduled bank in India. Our network partner will connect you in your city and they will help to open the bank Account.

Purchase Annual Compliance Package:

You can purchase an annual compliance package to meet the regulatory requirement of India and our team of CA/CS will continuously be in touch with you. You can track company compliance, tax filing status, and many more by using the Coprbiz Mobile app.