Get Instant Online UDYAM Registration

UDYAM Registration

Udyam Registration, also recognized as MSME Registration, signifies the revamped method for enrolling Micro, Small, and Medium Enterprises (MSMEs), which was introduced by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. Alongside this initiative, the Ministry also updated the MSME classification criteria.

Under the Udyam Registration system, enterprises are termed 'Udyam,' and the registration process is referred to as 'Udyam Registration.' Upon successful MSME registration, businesses receive a permanent registration number and a recognition certificate.

At FinLeg, we understand the importance of securing Udyam Registration swiftly and seamlessly for your business. Our dedicated team of experts is well-versed in the intricacies of MSME registration. We are committed to simplifying the paperwork and compliance requirements, ensuring that your business enjoys the full spectrum of benefits and recognition associated with Udyam Registration. Choose FinLeg for a hassle-free journey towards official MSME certification. We are here to support you every step of the way.

How Udyam Registration can benefit your business:

• Access to Loans and Credit: Udyam-registered MSMEs enjoy access to collateral-free loans and credit facilities from banks and financial institutions.
• Government Subsidies and Schemes: Eligibility for various government subsidies and schemes, including the Credit Linked Capital Subsidy Scheme (CLCSS) and Interest Subsidy Scheme for MSMEs.
• Tax Benefits: Avail of income tax exemptions and deductions as a Udyam-registered MSME.
• Priority in Government Procurement: Gain priority status in government procurement tenders.
• Streamlined Industrial Licenses and Approvals: Easily obtain industrial licenses and approvals from the government.
• Reimbursement of ISO Certification Fees: MSMEs can get reimbursement for ISO certification fees.
• Protection Against Delayed Payments: Protection against delayed payments from customers.
• Free Online Courses and Training: Access free online courses and training programs on various business-related topics.
• Market Linkages and Export Opportunities: Access market linkages and export opportunities through government initiatives.
• Enhanced Credibility and Brand Image: Udyam Registration enhances credibility among investors, partners, and customers, projecting a professional image.
• Simplified Compliance: Streamlined compliance requirements make it easier for MSMEs to operate legally.
• Access to Government Forums and Networks: Participate in government forums and networks to explore new opportunities and collaborate with other businesses.
• Entrepreneurial Support: Avail of support and handholding services from government agencies and incubation centers.

To initiate the Udyam Registration process, following documents and details are required:

• Aadhaar Number
• PAN Card
• Business Information (name, address, type, contact details)
• Bank Account Details (account number, IFSC code)
• Investment Details
• Industry Classification
• Employee Information
• Other Supporting Documents (if applicable)
• Email and Mobile Number

UDYAM Registration for Existing MSME Business Enterprises

For established MSME (Micro, Small, and Medium Enterprises) operating in India, there's a significant shift from the previous registration system to a more streamlined process. This updated online registration mandates the submission of essential documents such as the Aadhaar Number, PAN Card, existing MSME registration particulars, and other pertinent business details. The objective of this transition is to ensure that existing MSMEs are in sync with the new regulatory landscape, thereby enabling them to capitalize on special preferences in government procurement, secure collateral-free loans from financial institutions, access tax incentives, and benefit from various subsidies.

Through the official portal, businesses receive support and guidance to navigate this transition seamlessly. It's imperative for existing MSMEs to adhere to potential deadlines associated with this transition to avoid forfeiting these privileges and to remain compliant with the revised regulations. This proactive approach fosters sustained growth and alignment with government policies, ultimately facilitating a conducive business environment for MSMEs to thrive.

Entities that can apply for UDYAM Registration

Udyam Registration welcomes a diverse array of entities and individuals interested in establishing micro, small, or medium-sized enterprises (MSMEs) across India. The eligibility criteria encompass:

• Proprietorships: Individuals operating businesses independently.
• Hindu Undivided Family (HUF): Business entities formed by members of a Hindu Undivided Family.
• Partnership Firms: Businesses owned and managed by multiple partners.
• One Person Company (OPC): Single-member companies.
• Private Limited Companies: Companies with limited liability and multiple shareholders.
• Public Limited Companies: Publicly traded companies or other limited liability entities.
• Producer Companies: Companies primarily involved in producing, procuring, and marketing agricultural produce.
• Limited Liability Partnerships (LLPs): Partnerships offering limited liability protection to partners.
• Any Association of Persons: Groups of individuals or entities uniting for a common purpose.
• Co-operative Societies: Societies formed by individuals sharing common economic and social objectives.

These entities and individuals can leverage Udyam Registration to formalize their ventures and avail themselves of various benefits and support structures offered by the government.

Criteria for Micro, Small, and Medium Enterprises

To qualify for Udyam registration, your enterprise must adhere to the following criteria:

Investment Criteria

• Microenterprise: The investment in plant and machinery or equipment should not exceed one crore rupees.
• Small enterprise: The investment in plant and machinery or equipment should not exceed ten crore rupees.
• Medium enterprise: The investment in plant and machinery or equipment should not exceed fifty crore rupees.

Turnover Criteria

• Microenterprise: The turnover should not exceed five crore rupees.
• Small enterprise: The turnover should not exceed fifty crore rupees.
• Medium enterprise: The turnover should not exceed two hundred and fifty crore rupees.

When to Consider Udyam Registration?

While applying for MSME Udyam Registration is not compulsory, it is highly recommended for entrepreneurs. Registering your business under MSME soon after establishment allows you to access a range of government benefits and support programs tailored for small and medium-sized enterprises.

Frequently Asked Questions (FAQs)