Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

An entity would cease to be a 'startup' upon expiry of: a) 5 years from the date of its incorporation/ registration, OR b) If its turnover for any of the financial years has exceeded INR 25 crore; OR Startups would be required to intimate DIPP of any such cases within a period of 21 days. Read More

Posted on 20 Jul 2016 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Start-up India benefits are for Private Limited Company or Registered Partnership Firm or Limited Liability Partnership. A foreign national, NRI and PIO can register itself through MCA or Registrar of Firms using the existing processes and subsequently register itself on the Startup India portal and mobile app as a “Startup” to avail the benefits Read More

Posted on 22 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Yes, a partnership firm is eligible for all the benefits except tax incentives which are provided to a recognised startups. Read More

Posted on 22 Feb 2017 | 1 Answer

Harini S | Legistify

Harini S
Answered on 05 Mar 2019

You can register a private Limited Company with 3 co-founders under Indian Companies Act. There are pros and cons of each business model. To register your private limited company with 3 co-founders, you need to first sign a co-founder agreement. A co-founder agreement is a legal document which lays down the terms and conditions between co-founders of a startup regarding how the business will be operated between them. The co-founders agreement is a written agreement which provides insurance in case there is any dissonance between the co-founders. READ: Co-Founders Agreement in India You can consult a good startup lawyer in India, who will guide you in the procedure of registering you private limited company and the charges occurs.Read More

Posted on 05 Mar 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

No, however if required the applicant shall be liable for the payment of a fee of five thousand US dollars [or its equivalent in Indian rupees] for expenditure as may be required for inspection or visit of the manufacturing premises. Read More

Posted on 21 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 11 Nov 2019

A partnership deed will work only if you register the business as a Partnership firm. If you're starting an LLP, an LLP agreement is needed. However, if you're starting a company, a co-founders agreement is required.Read More

Posted on 12 Aug 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

An entity (Private Limited Company or Registered Partnership Firm or Limited Liability Partnership) shall be considered a “Startup” – a) Upto 5 years from the date of its incorporation/ registration, and b) If its turnover for any of the financial years has not exceeded INR 25 crore, and c) It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. The entity should not have been formed by splitting up or reconstruction of a business already in existence. A proprietorship or a public limited company is not eligible as startup. A one-person company, being a private limited company is entitled to be recognized as a 'startup'. Read More

Posted on 22 Feb 2017 | 1 Answer

Sakshi Yadav | Legistify

Sakshi Yadav
Answered on 28 Sep 2019

While company registration, the most frequent question asked in “Whether one can register a company for multiple businesses?” The answer is yes, however it depends whether the activities are related or not. The company may carry on more than one activity at the consent of the member. Consult a business law lawyer for more in-depth details.Read More

Posted on 23 Sep 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Yes, an existing company can be registered as a start up if it fullfills the criteria for being recognised as a start up. An entity (Private Limited Company or Registered Partnership Firm or Limited Liability Partnership) shall be considered a “Startup” – a) Upto 5 years from the date of its incorporation/ registration, and b) If its turnover for any of the financial years has not exceeded INR 25 crore, and c) It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. The entity should not have been formed by splitting up or reconstruction of a business already in existence. A proprietorship or a public limited company is not eligible as startup. A one-person company, being a private limited company is entitled to be recognized as a 'startup' Read More

Posted on 22 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

To oversimplify, Currently you can't raise funds in exchange for equity if you're a pvt company by offering equity to the general public. Nor by way of loans from individuals who are not your shareholders. But wait for a little while,SEBI's crowdfunding regulations are in the pipeline and those might help people in situations similar to yours. Read More

Posted on 10 May 2016 | 1 Answer