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Navigating the Legal Landscape: A Guide to Starting an Edtech Company in India

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Navigating the Legal Landscape: A Guide to Starting an Edtech Company in India

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The education technology (edtech) industry in India is rapidly growing, with a projected market size of $1.96 billion by 2021. The increasing availability of the internet and mobile devices, along with the government's push for digital education, has made it easier for edtech startups to reach a wider audience. However, starting an edtech company in India also comes with its own set of legal obligations and registration processes. This article provides an overview of the legal considerations for edtech startups in India, as well as the registration process for starting an edtech startup in India.

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Legal Obligations for Edtech Startups in India

Compliance with Data Protection Laws: Edtech startups in India must comply with the data protection laws of the country, including the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, and the Personal Data Protection Bill, 2019. These laws require edtech startups to protect the personal data of their users, including information such as names, addresses, and contact details.

Compliance with Education Laws: Edtech startups must also comply with the education laws of India, including the Right to Education Act, 2009, and the National Policy on Education, 1986. These laws outline the responsibilities of education providers, including the provision of quality education and the protection of student rights.

Compliance with Intellectual Property Laws: Edtech startups in India must also comply with the intellectual property laws of the country, including the Copyright Act, 1957 and the Trademarks Act, 1999. These laws protect the rights of creators and owners of original works, including educational materials, software, and other forms of content.

Compliance with Labor Laws: Edtech startups in India must also comply with the labor laws of the country, including the Minimum Wages Act, 1948 and the Payment of Bonus Act, 1965. These laws outline the rights and responsibilities of employers and employees, including minimum wage requirements, overtime pay, and other forms of compensation.

Compliance with Competition Laws: Edtech startups in India must also comply with the competition laws of the country, including the Competition Act, 2002. These laws prohibit anti-competitive practices such as price fixing, bid rigging, and other forms of collusion.

Registration Process

In order to launch an Edtech business in India, it is important to go through a series of legal steps and compliance measures. The first step is to incorporate the business as a Private Limited Company, Partnership firm, or Limited Liability Partnership. This process involves obtaining a Certificate of Incorporation/Partnership registration, PAN, and other necessary compliance requirements.

Once the business is incorporated, it must then be registered with Start-up India by creating a profile on the website and filling out the necessary forms. This registration grants access to various acceleration, incubator/mentorship projects, and other resources such as the Learning and Development Program, Government Schemes, State Policies for Start-ups, and pro-bono services.

After registering with Start-up India, the next step is to obtain Department for Promotion of Industry and Internal Trade (DPIIT) recognition. This recognition enables access to advantages such as high-quality intellectual property services and resources, relaxation of public procurement norms, self-certification under labour and environmental laws, easy company winding, access to Fund of Funds, tax exemption for three consecutive years, and tax exemption on investment above fair market value.

In order to obtain DPIIT recognition, the business must fill out the 'Start-up Recognition Form' and submit it along with necessary documents such as the Incorporation/Registration Certificate of the start-up, details of the Directors, proof of concept like pitch deck/website link/video, patent and trademark details, PAN Number.

Other areas to consider when launching an Edtech business in India include patents, trademarks, and/or design registration, funding, self-certification under employment and labour laws, and tax exemptions. By following these steps correctly, the launch of an Edtech business in India can be successful.

FAQs

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A Guide to Starting an EdTech Company in India

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The education technology (edtech) industry in India is rapidly growing, with a projected market size of $1.96 billion by 2021. The increasing availability of the internet and mobile devices, along with the government's push for digital education, has made it easier for edtech startups to reach a wider audience.

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Best M&A law firm in India | M&A Lawyers

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Best M&A law firm in India | M&A Lawyers

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KSK is amongst the best M&A law firm in India. We help you find Mergers &Acquisitions attorney near you to provide Mergers & Acquisitions Advice.

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Mergers and Acquisitions (M&A) is a branch of corporate law that focuses on companies that buy or merge with other companies. KSK is recognized as one of the best M&A law firm in India. Our M&A lawyers advise clients on the drafting, negotiation, and performance of contracts for the sale of corporate assets, as well as on the financing required for mergers and acquisitions. An M&A transaction is one of the most intricate events for a company, with both internal and external impacts.

Client engagements at KSK are designed to develop long-term organizational collaborations, with frequent input in industry projects and supervisory links. The advice is then tailored to the client's structural culture and risk profile and reinforced and fostered at every level so that the problems may be addressed as per each client's unique perspective. A potentially complex M&A deal may involve numerous government and regulatory touchpoints, and knowledge of the business or sector is essential for classifying barriers and issues.

Our attorneys at KSK, have a wealth of expertise working on transactions involving regulated industries and publicly traded firms, as well as overcoming significant regulatory hurdles. Years of experience have contributed to KSK's unrivalled industry proficiency. We play a critical role for international corporations looking to buy existing businesses in India, as well as Indian companies looking to acquire enterprises within or outside of India, by providing a broad variety of services, including regulatory assistance.

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Best M&A law firm in India | M&A Lawyers

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Mergers and Acquisitions (M&A) is a branch of corporate law that focuses on companies that buy or merge with other companies. KSK is recognized as one of the best M&A law firm in India. Our M&A lawyers advise clients on the drafting, negotiation, and performance of contracts for the sale of corporate assets, as well as on the financing required for mergers and acquisitions.

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Best Real Estate Law firm in India | Real Estate Law

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Best Real Estate Law firm in India | Real Estate Law

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Are you looking for best Real Estate Lawyers in India? KSK is amongst the best real estate law firm in India with expert real estate lawyers in India.

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King Stubb and Kasiva's ("KSK") being one of the top Real Estate Law Firms in India offers myriad of transactional and advisory services. Our commercially driven and pragmatic approach enables us to deliver practical, apt legal support that is tailor-made for our clients. The team at KSK, comprised of the top real estate lawyers in India is well-versed in a range of real estate structures and has extensive experience in handling complex projects in the real estate sector.

We are a team of specialist real estate lawyers who understand the unique regulatory issues of the real estate sector and are particularly experienced in issues pertaining to infrastructure, education, and hospitality sectors. At KSK our primary focus is to present the client with an integrated outlook on their issue and equip them to make an informed decision ensuring the growth of opportunities and investments in the real estate sector in India and beyond.

Our well-established network of experts and local knowledge combined with our extensive experience in all aspects of property law includes real estate acquisition for residential, commercial and industrial development, due diligence, investments, financing, RERA advisory , REITs and services in connection with developing, buying, selling and leasing property. We represent and advise a plethora of property developers and owners, investors, contractors, hotel operators, educational institutions and financial institutions. Our expertise in regulatory requirements and evolving enforcement landscapes in the industry ensures clients are on top of their compliances and governance requirements.

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Best Real Estate Law firm in India | Real Estate Law

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King Stubb and Kasiva's ("KSK") being one of the top Real Estate Law Firms in India offers myriad of transactional and advisory services. Our commercially driven and pragmatic approach enables us to deliver practical, apt legal support that is tailor-made for our clients.

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Best Company Secretarial Services law firm in India

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Best Company Secretarial Services law firm in India

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KSK is one of the best company secretarial services law firm in India. We provide advisory on Corporate laws, SEBI, FEMA, FDI and others.

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As a seasoned company secretarial services provider, King Stubb and Kasiva provides compliance and advisory services in company law matters, Securities and Exchange Board of India (SEBI) matters , and various other corporate laws, commercial and legal document types , and also assists in setting up a business in India. KSK offers a comprehensive range of corporate secretarial services to helps businesses safeguard their interests at every step.

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Professionals at KSK are acknowledged experts in all areas of company secretarial practice and company law with an extensive client base of exceptional depth and quality. The firm specializes in providing consultancy on corporate secretarial matters to both small and large companies. We not only provide a range of insights but also take care of all the unfamiliar procedures, obligations , and administrative details that even help in setting up a business in India.

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Best Company Secretarial Services law firm in India

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As a seasoned company secretarial services provider, King Stubb and Kasiva provides compliance and advisory services in company law matters, Securities and Exchange Board of India (SEBI) matters , and various other corporate laws, commercial and legal document types , and also assists in setting up a business in India.

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Best FDI law firm in India | FDI in India

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Best FDI law firm in India | FDI in India

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KSK is amongst the best FDI law firm in India. We help you find foreign direct investment attorneys near you to provide advisory on FDI in India.

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Best labour and employment Law firm in India | labour and employment law

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Best labour and employment Law firm in India | labour and employment law

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Looking for expert legal advice on labour and employment law in India? KSK is amongst the best labour and employment law firm in India specializing in employment law in India, from drafting employment contracts to handling disputes and litigation.

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King Stubb and Kasiva is a prominent labour & employment law firm in India and is renowned for its meticulous attention to detail and profound knowledge of all critical aspects of managing human resources in India, encompassing a broad range of industries. Labour and employment law in India can be complex and constantly changing and KSK's team comprising of experienced employment lawyers in India work regularly with clients in various sectors, including IT/ITES, Banking and Finance, FinTech, Hospitality, Automotive, Pharmaceutical, and many others to address their simple and complex legal issues pertaining to employment law.

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King Stubb and Kasiva is a prominent labour & employment law firm in India and is renowned for its meticulous attention to detail and profound knowledge of all critical aspects of managing human resources in India, encompassing a broad range of industries.

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Best Information Technology Law Firm in India - Ksandk

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Best Information Technology Law Firm in India - Ksandk

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KSK is a leading Information Technology Law Firm in India and has a team of highly experiences lawyers that specializes in Cyber Law and Data Protection Laws.

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For the last two decades, technology has been the driving force behind the Indian economy. The use of gadgets has eased the lives of every individual. This digital penetration has, in turn, resulted in the misuse of the internet such as data theft, impersonation, breach of privacy, cybercrimes, etc. This led to the need of having a comprehensive set of regulations to protect the interest of every individual and corporation. For this, the Information Technology Act 2000 was introduced by the Indian government.

It was further amended by various sets of rules to strengthen the data protection regime in India. Further, The Indian Computer Emergency Response Team (CERT-In) is designated as the nodal agency to handle various cyber incidents and take emergency measures for their containment by the Information Technology (The Indian Computer Emergency Response Team and Manner of Performing Functions and Duties) Rules 2013 (IT Rules, 2013).

People and businesses can voluntarily report cyber security events and concerns to CERT-In and ask for support and assistance with technical issues as well as other types of support.

KSK as an excellent Information Technology Law Firm in India is well-equipped in assisting clients across the globe with respect to various aspects of information technology such as:

1. Internet regulatory landscape

2. Internet of Things

3. E-commerce

4. Data protection

5. Transactions

6. FinTech

7. Cryptocurrencies

Through services like an Information Technology Law Firm in India:

1. Drafting agreements pertaining to information technology.

2. Assistance in acquiring various clearances and licenses.

3. Assistance in taxation-related issues in the IT domain.

4. Transactional support.

5. Regulatory compliances.

6. Privacy litigation.

Approach at KSK
Information technology services are here to stay for a very long time. There have been numerous developments in this domain in recent times.

The most important one is the introduction of a new data protection bill in India, which is in the process of being finalized. Once the same gets enforced, it will open the path for a wide array of legal compliances, which are yet unknown to the majority of people. Hence, there is a need for lawyers to keep themselves updated with the ongoing developments and deliver solutions to problems from diverse sectors.

At KSK, as an Information Technology Law Firm in India, we have developed a niche in this area, and have assisted several Indian and global companies with complex matters on information technology. We combine our extensive knowledge of the regulatory framework to provide effective solutions to cross-jurisdictional issues in a time-bound manner.

FAQs

India will put aside the present Personal Data Protection Bill 2019 that has been in development for almost five years and does not adequately meet the needs of the nation's shifting technological landscape and instead design a brand-new privacy law. The Joint Committee of Parliament evaluated the 2019 Bill after it had been first developed by a group under the direction of retired Supreme Court Judge BN Srikrishna. It only provided its final recommendations and a new form of the Bill in November 2021.

There is a rise in fintech start-ups in India in the last few decades. Hence, the regulatory landscape for the fintech space is constantly evolving. The following are some of the existing sets of regulations that are extremely important for any fintech company: Payment and Settlement Systems Act (2007), Guidelines regulating P2P Lending Platforms, NCPI Regulations regarding UPI payments, NBFC Regulations, Regulations governing Payment Banks, and Regulation of Payment Intermediaries by the RBI.

The domain of software agreements is extremely vast and complicated. However, we have tried to list some of the most common agreements that are quintessential for any company: a) Software License Agreements such as shrink-wrap agreements, click-wrap agreements, browse-wrap agreements, and end-user license agreements ("EULA") b) Software Development Agreements such as Agile contracts, Waterfall contracts, etc., and c) Cloud Computing Services Agreement such as Saas, platform, and computing resources.

The dispute resolution mechanism for disputes involving cyber laws is a bit complex.

It starts with the Adjudicating officer as mentioned in the IT Act, 2000. Post that, it moves to the Cyber appellate tribunal, as provided in Section 58 of IT Act, 2000. Clause (2) Section 58 provides that the Cyber Appellate Tribunal shall have the same powers as a civil court under the Code of Civil Procedure, 1908. Further, a person who is aggrieved by the Cyber Appellate Tribunal's judgment or order may appeal it to the high court within sixty days of obtaining notice of the tribunal's decision or order on any factual or legal issue arising out of such order, according to Section 62 of the IT Act, 2000.

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HOW CAN WE HELP?

The Firm has a team of lawyers who hold expertise in Information Technology Law and is in position to provide you with unrivalled expertise on your Information Technology Law assistance needs.

LITIGATION

The Litigation Team of the firm predominantly involves catering to the needs of Indian and Multinational clients

REGULATORY

We regularly represent corporate and individual clients before state and central administrative agencies

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Best Information Technology Law Firm in India - Ksandk

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For the last two decades, technology has been the driving force behind the Indian economy. The use of gadgets has eased the lives of every individual. This digital penetration has, in turn, resulted in the misuse of the internet such as data theft, impersonation, breach of privacy, cybercrimes, etc.

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Business Setup in India | Setting up a company in India

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Business Setup in India | Setting up a company in India

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Looking to set up a business in India? KSK can help. With our expertise in Indian regulations and strong network of partners, we make it easy to incorporate and manage your business in India. Contact us today to learn more.

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Banking Law in India | Best Banking and Finance Law firm in India

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Banking Law in India | Best Banking and Finance Law firm in India

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Looking for expert legal advice on banking law in India ? KSK is amongst the best banking and finance law firm in India specializing in providing practical solutions to a range of banking law matters.

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Recognized amongst prominent banking & Finance law firms in India, King Stubb & Kasiva (KSK), specializes in providing legal advice and services related to finance, securities and banking law in India. We have a team of experienced finance and banking lawyers in India who are well-versed in various aspects of financial transactions and regulations. We provide a wide range of services to our clients, including advice on lending, investment, financing, and regulatory compliance.

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Banking Law in India | Best Banking and Finance Law firm in India

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Recognized amongst prominent banking & Finance law firms in India, King Stubb & Kasiva (KSK), specializes in providing legal advice and services related to finance, securities and banking law in India. We have a team of experienced finance and banking lawyers in India who are well-versed in various aspects of financial transactions and regulations.

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KSK provides NRI Legal Services in India representation to NRIs in matters, including property disputes, succession certificates, power of attorney.

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The need and significance of specialized NRI legal services have significantly increased owing to the increase in the number of migrations and business expansions in India. King Stubb and Kasiva has a specialized legal wing with experienced lawyers from across the nation to cater to the required NRI legal services. This legal wing is equipped to deal with the legal matters for the NRIs and provide effective solutions and representation wherever necessary bearing in mind the challenges of travel and communication faced by our NRI clients.

The team at KSK is experienced to offer honest dealings with full accountability. We are a team of top-notch professionals spread across India who adopt a modest and client-centric approach in our dealings. We offer legal assistance to NRI clients in all kinds of property matters, dispute matters, setting up business in India and other essential legal services. Comprised of a team of experienced lawyers and advocates for NRI issues, we diligently guide our clients providing the best NRI Legal services in India.

KSK's PAN India service model with offices in New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kochi, Kolkata, Pune and Mangalore and with 120+ professionals, we have gained the trust of our clients on seamless management of disputes across sectors and practice areas and our team is well equipped to assist NRI clients with all their needs irrespective of the geographical location of matter of disputes.  We ensure our clients need not invest their efforts in travelling and follow-ups to manage their disputes, as we proactively guide them with the necessary inputs and other requisites requirements.

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The need and significance of specialized NRI legal services have significantly increased owing to the increase in the number of migrations and business expansions in India. King Stubb and Kasiva has a specialized legal wing with experienced lawyers from across the nation to cater to the required NRI legal services.

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Property disputes in India are often very complex and involve various laws including the local laws where the property is located hence the services of expert property dispute lawyers becomes very pertinent under these circumstances. Property Dispute lawyers at King Stubb and Kasiva are proficient and experienced to assist in complex disputes to ensure favorable outcomes in a less-time consuming manner.

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With our experience in property law, we also guide our clients in the process of verification title, checking the revenue records, verifying the authenticity of the documents related to succession and inheritance, dealing with property of power of attorney holder, and/or checking of lien on the property through mortgage or pledge. Known for its best property dispute lawyers in India, KSK focuses entirely on client interest with cost effective measures, quick turnaround time and an ethical approach. Our legal advisors are also fully capable and competent to assist the NRIs in all legal matters pertaining to their properties in India.

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Property disputes in India are often very complex and involve various laws including the local laws where the property is located hence the services of expert property dispute lawyers becomes very pertinent under these circumstances. Property Dispute lawyers at King Stubb and Kasiva are proficient and experienced to assist in complex disputes to ensure favorable outcomes in a less-time consuming manner.

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Are you wondering about how to get your startup registration process completed in India? This article will help you to delve deep into the startup registration process in India.

Startups can be registered through various methods in India, one of the most important being under the Startup India Scheme and registration. The process of startup India registration is governed by the Startup India Scheme which was launched on the 16th of January, 2016 as an invitation and incentive to investors with an entrepreneurial spirit, innovators, and entrepreneurs to develop their ideas into reality and get their startup registration process in India completed without much hassle and get recognized by the Government of India.

The aim of the Startup India Scheme was to develop the Indian economy into a thoroughly supportive and holistic startup ecosystem and help with startup registration and ease the startup registration process. The scheme has also aimed to and impacted positively the ease of doing business index in India. Through promoting and enabling the knowledge exchange mechanism, innovation infrastructure and relaxing norms for the business houses planning to register startups in India, the scheme has played a great role in the business ecosystem development in the country.

Startup India Scheme has also facilitated startups to garner international market support and develop connections between international markets and Indian startup companies, paved the way for tax exemptions, and has also created an online platform to facilitate shareholders to develop business connections and develop holistically.

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Types Of Companies Under the Companies Act, 2013

There are various types of companies as enumerated under the Companies Act, 2013 which are as follows:

1. One-Person Company - this type of company, as the name suggests, has only one member in the company who may also be fulfilling the tasks of the director of the company. This type of company has been defined under Section 2(62) of the Companies Act, 2013. However, another person may be added to the company as the nominee of the company's sole existing member. Only a natural Indian Citizen can start an OPC or one-person company and only one OPC can be started per person. The benefit of this type of company is that delays in decision-making can be avoided as only one person takes all the decisions pertaining to the company and a higher degree of autonomy is vested with the director or member.

2. Public Limited Company - A public limited company is a company which has designated its shares in the open market for sale to the general public. A higher level of authority and sanctions are imposed upon such companies and thus it has a greater burden of responsibility.

3. Private Limited Company - According to the Companies Act, 2013 Private Limited Company is a company which does not have any onus to offer shares to different outside members and the holdings of the company remain with a select group of people. The shares may be placed through a private placement of shares and are often not guided by SEBI rules.

4. Cooperatives - Cooperatives are those companies which are regulated by a set of members who act as decision-making authorities of the company. They run the business according to their set of by-laws and thus decision-making is fair and accountable to each other.

5. Unlimited Company - An unlimited company refers to a company which is not limited by the liability of shares or holding of a member into the company. The members can also be held accountable personally for the debts of the company in case the company runs into debts or fails.

6. Partnership Firm - a partnership is a result of individuals who come together to form an agent-principal relationship between them and are governed under the Indian Partnership Act, of 1932.

7. Sole Proprietorship - As the name suggests, a sole proprietorship is a form of business owned by a single person. It is the simplest form of business structure as a single person holds the sole identity and control of the proprietorship.

Procedure For Registering A StartUp In India

There are various steps to be followed for registering a startup in India along with the requisite documentation framework and with help of startup lawyers in India which are as follows:

Step 1: Incorporation of Business - In order to register a startup, the first task revolves around the incorporation of the startup either as a private limited company, partnership firm, or other categories as mentioned above.

Step 2: Registration with Startup India website - The second step revolves around registering the company with the Startup India website wherein the pertinent details like name, mobile number, stage of a startup website, email address etc., need to be submitted on the portal. After the above step is completed, the startups are eligible for availing benefits of various government schemes, state policies, R&D Programs and other facilities.

Step 3: Getting DPIIT Certified - The third step involves getting DPIIT Certification so that it gets enabled to enjoy the benefits of various relaxations like public procurement norms, high-quality intellectual property services, tax exemption for three consecutive financial years and investment opportunities. The recognition can be obtained using the above website.

Step 4: Applying for recognition - Applying for recognition is necessary where you need to fill in the details in the "Startup Recognition Form" such as authorized office address, details of directors, officials and partners, activities of the concern and self-certification.

Documents Required For Obtaining Recognition

The documents required for obtaining recognition are as follows:

Entity Details

PAN Number

Full Address

Authorized Representative Details

Directors / Partners Details

Incorporation/registration certificate

List of accomplishments/awards/recommendations

Authorization letter of representative of the company, Partnership or LLP

Patents and Trademarks

Startup Activities

Self-Certification

Any other documentation as may be required

After completing all of the above steps, the startup obtains the recognition number within two days of the submission of requisite documents. However, in case there is a discrepancy in documentation, the fine involves 50% of your paid-up capital or Rs. 25,000/-, whichever is higher.

FAQs

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Ultimate Guide For StartUp Registration Process In India

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Are you wondering about how to get your startup registration process completed in India? This article will help you to delve deep into the startup registration process in India. Startups can be registered through various methods in India, one of the most important being under the Startup India Scheme and registration.

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Foreign Company Registration in India - General Process

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Foreign Company Registration in India - General Process

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The setting up process for foreign companies in India is a daunting task. Tedious bureaucratic procedures and the cost of compliance for foreign company registration in India.

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How can a foreign company establish a business in India? Several foreign companies have decided to establish themselves in India owing to India's potential and fast-increasing market. Efforts have been made over the years to make it easier to start a business in India and to encourage international entrepreneurs. The Companies Act 2013 defines a foreign company in India as any corporation or body corporate that was formed outside of India and conducts business in India, either directly or through an agent, physically or virtually. There are 2 ways to foreign company registration in India:

1. For a temporary establishment, create a liaison, project, or branch office.

2. For a permanent establishment, incorporate a private limited under the Companies Act or a limited liability partnership under the Limited Liability Act, 2008

In addition, for foreign companies' registration in India, a minimum of two people and an Indian address are required. Such foreign companies in India must have at least 2 shareholders and at least 2 directors. 1 of the directors must be an Indian citizen and resident. In this circumstance, NRIs or foreign nationals may own the entire stock of the corporation. The company's registered office must be located in India, and the city in which the corporation establishes its registered office will also decide the applicable legal jurisdiction.

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The other essentials for a foreign company to start a business in India are as under:

The General Process

As the first step for a foreign company registration in India, determine if Foreign Direct Investment ("FDI") is permissible via the automatic route or the government route. If the industry in which the business will operate permits 100% FDI through the automatic route, the company only needs to notify the RBI of its foreign direct investment. The majority of industries in India take the automatic route.

Secondly, having a local presence in India is strongly recommended, but if the company is not yet ready to open a branch or subsidiary, it can still do so by hiring an agent or wholesaler. A regional strategy must be considered from a strategic standpoint. If your product or service has a wide market appeal, look for local reps and distributors.

The general procedure for establishing a foreign company in India:

Selecting the form of Company

For a foreign company registration in India, one should first define the Business Plan. Depending on the business operations plan, the best appropriate Business entity option to start the business in India must be chosen.

Documentation

To establish a foreign company in India, every document signed outside of India, or a copy of a document generated outside of India, must be notarized and certified by the Indian Embassy in the relevant nation under the Hague Convention. Further stages will necessitate the following documentation:

Passport

Identity Proof

Registered Office Address Proof

Memorandum of Association

Articles of Association

Director Identification No.

Digital Signature Certificate

Board Resolution for Trademarks purposes

Authorization letter for Foreign Body Corporate

Authorization letter for execution of Company Incorporation Documents

Formal Application

For foreign companies' registration in India, applications for Private Limited Companies and Limited Liability Partnerships must be filed with the Ministry of Corporate Affairs' Registrar of Companies.

The Reserve Bank of India must receive an application for a branch or liaison office. Following RBI approval, the entity must be registered with the Registrar of Companies.

Obtaining Registration

Following business registration by a foreign company in India, they can open a bank account, hire staff, and begin operations. To begin hiring personnel, the company must first obtain additional registrations such as professional tax, shops and establishments, and goods and services tax.

Final Words

India receives significant FDI and private equity investments as its one of the world's fastest-growing economies. Foreign firms and foreign nationals continue to see India as a favorable investment destination owing to its second-largest population and quantity of skilled IT workers. It is pertinent to note that after a company is registered in India, the Indian Director can help the company open a bank account in India. The corporation must notify the Reserve Bank of India of its FDI after opening the bank account.

A legal or accounting specialist in India completes the simple method for reporting FDI input into an organization. The business would be operational and in compliance with all Indian requirements after the FDI reporting is completed.

Numerous factors must be considered before deciding on a course of action for launching a business in India, including due diligence of Indian partners, exit strategies, Indian laws and regulations, and operational considerations such as connectivity, employment, state-specific regulations, and so on. The best way for a foreign company to enter the Indian market is also determined by characteristics unique to that company, such as the extent of its operations, expansion plans, and commercial goals.

FAQs

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Foreign Company Registration in India - General Process

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How can a foreign company establish a business in India? Several foreign companies have decided to establish themselves in India owing to India's potential and fast-increasing market. Efforts have been made over the years to make it easier to start a business in India and to encourage international entrepreneurs.

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A guide for foreign nationals to start a business in India

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A guide for foreign nationals to start a business in India

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Are you a foreign national looking to start a business in India? This guide provides an overview of the key regulatory requirements, key considerations and practical tips to help you get started.

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India is one of the fastest-growing economies in the world with a population of approximately 1.4 billion[1]. India serves as a favourable destination to start a business in India due to its business- friendly policies. According to the World Bank's 2022 report on ease of doing business, India was ranked 63 among 190 countries [2] . In the last few years, India has opened multiple avenues and has provided schemes for foreigners to invest in the Indian economy. Such avenues have attracted large foreign direct investments and this inflow is increasing every year.

The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India regularly updates it's consolidated policy framework for Foreign Direct Investment (FDI) in India. The Indian Government is also encouraging foreign nationals to invest in start-ups, small businesses and MSMEs. The Indian Government has also carried out structural changes to the laws which permit foreign direct investment in India and therefore the procedure for setting up business in India by foreign companies and foreign national have been significantly simplified.

Foreign nationals and companies can set up businesses in India in various ways. This article will provide an extensive guide on how to set up a company in India.

Table of Contents

Different ways in which foreigners can start a business in India

There are different types of business structures in which a foreign company can opt to establish a business in India. Foreign companies can decide depending on the nature of their business and other affecting factors as to which type of business structure would be beneficial for them. Here are a few options for setting up a business in India:

Company under registered under the provisions of the Companies Act, 2013
A company incorporated under the Companies Act, 2013 is the most preferred route for doing business in India. The other option available is a Limited Liability Partnership (LLP) firm. Depending on the capital the Foreign National intends to invest, the intended nature of the business and the resources available in India to manage the business; a foreign national may either opt for a for incorporating a Company or forming a LLP. While the LLP structure is easy to form and maintain in terms of compliances, however, when it comes to tapping into funding and allocability of shares to the investors, a company would be more advantageous.

Private Limited Company: The fastest way to set up a business in India is through registering as a Private Limited Company (PLC). Almost all sectors (except for few prohibited sectors) can welcome Foreign companies to set up business in India via FDI (either through the Automatic Route or through the Government Route) A PLC must have at least two shareholders and can have a maximum of fifty shareholders. A Private Limited Company must have a minimum paid-up capital of Rs. 100,000..

Public Limited Company: A Public Limited Company must have at least 7 (seven) shareholders. There is no upper limit on the number of shareholders of a public company. A public company must have a minimum paid-up capital of Rs. 500,000.

If the company has a foreign shareholding, the foreign citizens should bring their contribution to the share capital by transferring from their foreign bank account through normal banking channels and through the same banking channels, the foreign nationals may also receive their annual dividends/profits, if any. A foreign national can act as Director / Managing Director / Whole-time Director / Manager of
an Indian company.

2. Other Permissible Structures

1. Liaison office: A foreign company has the option to set up a liaison office (also known as Representative Office) for all liaison activities in India. A foreign company will bear all the expenses of a liaison office. A Liaison Office can undertake only liaison activities in India i.e. it can act as a channel of communication between the Head Office (established abroad) and parties in India. The Liason Office is not allowed to undertake any business activities in India and cannot earn any income/profits in India.

2. Branch office: Branch offices are allowed to be set up in India with specific approval from the Reserve Bank of India (RBI) for companies that are incorporated outside Indiaand are engaged in manufacturing or trading activities.

3. Joint Venture: A foreign company, to form a joint venture in India, will have to connect with a local partner, in the respective location as to where the business is to be established. The foreign company and the local partner will sign a Memorandum of Understanding (MOU), which outlines the basis for the joint venture agreement.

4. Wholly-owned Subsidiary: An Indian company will become a wholly-owned subsidiary of the foreign business when it makes a 100% FDI investment in it. A foreign company can make a 100% FDI to register its business in India.

5. Project Office: A foreign company can set up a project office in India to execute projects given to them by Indian companies. However, to establish such a project office foreign company is required to obtain approval from the Reserve Bank of India (RBI).

Apart from a Liaison Office, all other structures mentioned herein are permitted to remit back to the Foreign investors any profits earned through the proper banking channels in accordance with the laws in India pertaining to foreign exchange. It is to be noted that while remitting funds, subject to the aforementioned laws pertaining to foreign exchange, the amounts to be remitted must be submitted to the bank along with Form A -2 (to be submitted to the bank by the applicant/remitter). The applicable withholding taxes, may also be applicable while remitting funds to Foreign investors.

What are the documents required for foreigners and applications to authorities for
registration in India?

There are several ways for setting up a business in India by a foreign company. Each such form of business requires different documents and formalities for registration. To get a foreign company registered following documents are required:

1. Process for Joint Venture

MOU states the basics of a joint venture agreement.

Foreign companies and local partners shall negotiate and discuss all the terms of the joint venture agreement. The said agreement must be consistent with domestic and international law.

The MOU that would be signed by the parties in a joint venture should contain essential clauses such as a dispute resolution clause, clauses that elaborate on the holding of shares, Governing law clause, clauses pertaining to the transfer of shares, confidentiality clause, non-compete, non-solicit, ownership of developed intellectual property, etc.

2. Process for a Company

As per the Companies Act, 2013, a minimum of two shareholders will be required and the Directors will have to be appointed. All directors have to apply for DIN and procure digital signature certificates.

For the reservation of name, an application through e-form RUN ("Reserve Unique Name") will have to be applied. Additionally, an application through SPICe+ e-form will have to be filed along with the MOA and AOA of the Company. By filing the SPICe+ e- form the company would be registered. A wholly-owned subsidiary would also receive Professional Tax Registration, a Bank Account, Shops and Establishment Registration, GST number, Employees Provident Fund registration, and Employees State Insurance Registration along with a PAN and TAN by filing AGILE-PRO-S form.

Lastly, the ROC online fees and stamp duty as per the authorized capital of the company will also have to be paid during the incorporation process.

3. Process for Liaison Office

The foreign company must have a profit-making record and net value should not be less than USD 50,000 to set up a liaison office in India.

Application to establish a liaison office to the Foreign Exchange Department through a designated Authorised Dealer Category-I Bank (AD) [3].

It should file the English version of the certificate of incorporation/registration or MOA or AOA.

Latest audited balance sheet attested by the Indian Embassy or Notary Public

The RBI will give the liaison office a unique identification number

Obtain a PAN from Income Tax Authorities and all the expenses should be met entirely through inward remittances of foreign exchange.

Get approval from the IRDAI (Insurance Regulatory and Development Authority).

4. Process for Branch Office

The foreign company should be engaged in trading or manufacturing activities and have a net value of not less than USD 1,00,000 in its home country.

Forward the application to establish a liaison office to the Foreign Exchange Department through a designated Authorised Dealer Category-I Bank (AD).

File the English version of the certificate of incorporation/registration or MOA or AOA.

Latest audited balance sheet attested by the Indian Embassy or Notary Public.

RBI will give the branch office a unique identification number [4].

The foreign company has to obtain PAN from Income Tax Authorities

Approval from the Reserve Bank of India (RBI) under FEMA 1999 and approval from the Insurance Regulatory and Development Authority (IRDA).

Conclusion

The Indian government has taken several efforts to increase foreign investments in India. These efforts have been a success as FDI in India is increasing every year. India is a relationships- driven society with multiple business opportunities. Commerce and trade in all forms are encouraged by the government. India's rank in the ease of doing business has also improved in the last 5 years. If you are an NRI/Foreign National looking to start a business in India, take advantage of established law firms providing incorporation services in India in order to ease the process of setting up in India and doing business in India.

FAQs

[2] https://economictimes.indiatimes.com/news/economy/indicators/india-jumps-to-63rd-position-
in-world-banks-doing-business-2020-report/articleshow/71731589.cms?from=mdr
[3] https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10404

[4] https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10404
[5] https://www.mca.gov.in/Ministry/pdf/SecondAmndtRules_02022021.pdf
[6] https://dpiit.gov.in/sites/default/files/pn5_2012_2.pdf

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Start a business in India - Guide for foreign nationals

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India is one of the fastest-growing economies in the world with a population of approximately 1.4 billion[1]. India serves as a favourable destination to start a business in India due to its business- friendly policies. According to the World Bank's 2022 report on ease of doing business, India was ranked 63 among 190 countries [2] .

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Moonlighting is often thought of as working a second job in addition to one's primary job. While this is certainly one type of moonlighting, it is not the only type. In fact, moonlighting can refer to any type of work that is done outside of one's primary job. This could include freelance work, consulting, or even running a side business.

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Overall, moonlighting can be a great way to earn additional income and to pursue one's passions. However, it is important to be aware of the legal implications before getting started.

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