How to Startup in Kerala
Government of Kerala has been adhering to the Startup Definition as defined by the Government of India and has issued Government order for the same vide order G.O.(Rt)No.43/2019/ITD dt 26.02.2019 with respect to the revised startup definition by Government of India.
An entity shall be considered as a startup:
Upto a period of ten years from the date of incorporation/ registration
(if it is incorporated as a private limited company as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2018) in India.
Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees
Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation
* an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Startup'
Process of registering a Startup
- PAN Card issued by the Income Tax department as an Identity proof.
- One address proof.
- Two Passport Size photo.
- Document evidencing payment of fee.
- Memorandum and Articles of Association.
- Copy of agreement if any, which the proposed company wishes to enter into with any individual for appointment as its managing or whole-time director or manager.
- Form 18.
- Form 32 (except for section 25 company) & Form 29 (only in case of public companies).
- Power of Attorney from subscribers
- Letter from Registrar of Companies making names available
- No objection letters from directors/promoters
- Requisite fees either in cash or demand draft
- Aadhaar card
- In general A partnership deed has to be created with a mutual understanding between the partners.
- The deed has to be printed on a stamp paper of Rs. 500.
- Payment of stamp duty
- The document has to be signed by all the partners with witnesses on the last page.
DCAP account selected.