STPI Registration: Documents, Procedure & Time Taken - Bizfoc

Introduction

According to the Income Tax Act of 1961, the STPI registration is required to promote the tax reliefs to other countries in terms of exports. The government of India has established the STPI in order to enhance the export of software and hardware at duty free and at 100% claim on depreciation provision.

Under the Digital India Initiative, STP organisation has implemented two schemes that help to promote IT-startups and software industry ecosystem- Software Technology Park (STP) and the Electronics Hardware Technology Park (EHTP) scheme. A total of 62 units STPI centres/ sub-centres are operational across the country, out of 54 centres are in Tier II and Tier III cities. In this article, we’ve provided you complete insights on how to register your STPI, you need to collect the documents, validity, eligibility criteria and time taken.

What is STPI Registration?

The full form of STPI is Software Technology Parks of India. The STPI registration is the document that helps to encourage the exports of software in India on duty free trading. STI registration helps to promote computer software and other related IT related products in a product, the government has implemented this registration under the rule of STPI.

Benefits of STPI Registration

Here are the benefits of STPI registration which are as follows:

• Free importing duty is offered under STPI when hardware and software of computer.
• STPI units to secure a total 100% Foreign Direct Investment (FDI) through automatic route.
• After the 5 years of usage, STPI units can claim over 100% depreciation on capital goods.

STPI Registration Eligibility

Here’s the eligibility criteria for STPI registration before applying for registration:

Documents for STPI Registration

Here’s the list of documents required for STPI registration:

• SOFTEX Form
• Master Service Agreements (MSA) and other Forms of Services Agreement
• Details of the Foreign Collaborator
• Copy of the Rent Agreement
• Certificate of Incorporation in case of the Company
• Articles of Association and Memorandum of Association (AOA and MOA)
• Copy of Memorandum and Article of Association
• Board Resolution for setting up the Non-STP Unit and persons authorized to sign.
• Promoter / Director Profile/Partner Profile
• Copy of IEC, Copy of PAN, Project report / Company profile
• Copy of Lease / Rental Agreement on legal paper
• Copy of Form 32/Dir. 12
• Copy of Form 18/INC 22
• Copy of Bank Certificate with AD code mentioned

STPI Registration Fees

Details of fees for STPI registration are as follows:

STPI Registration Process

Here’s the step-by-step procedures for STPI registration, which are as follows:

• Step 1: Consult in Bizfoc Teams: If you want to register under STPI registration, for the requisite procedures or to investigate, enquire or have a simple doubt, you can contact our professional experts. Our Bizfoc professionals will help you overcome all your doubts, inquiries or any investigation regarding STPI registration via communications or just a call away.

• Step 2: Collect Required Documents: On deciding, you need to collect all the documents for registration to at least proceed with obtaining STPI registration, including documents such as the SOFTEX form, balance sheet, GST registration, etc.

• Step 3: Submit the Application and Pay Fees: After ensuring that you’re satisfied with the answers regarding your concerns, you pay the registration fees along with the application. For filing the application, you don’t need to fill out the application on your own. You will receive complete assistance for filing your online application form from our team of experts, who will guide you with the required details as needed.

• Step 4: Verification and Approval: Once your application is submitted to the concerned authorities, they will verify your documents. If any errors or discrepancies are found, they will address them. If no issues are found, they will approve your application.

• Step 5: Issuance of STPI Registration: After the application is scrutinized by the regulatory authority, they will issue the STPI Registration in the name of the concerned applicant.

Validity and Renewal of STPI Registration

The validity of STPI registration lasts for 3 years from the date of issuance. For renewal of STPI Registration, an applicant needs to apply before the expiration of the registration.

Time Taken to Obtain STPI Registration

The time taken to obtain STPI registration takes around 10-15 days from the date of application.

Why Choose Bizfoc for STPI Registration?

Here are the top five reasons why you should choose Bizfoc for registering themselves under STPI registration Online:

• Hassle-free procedures
• Cost-effective solution
• Respond to all your queries and doubts via communication mediums
• Free assistance of experts
• Proven success

We, the team of Bizfoc experts, will help you to overcome any issues via communication mediums regarding STPI registration online. You can either contact us via email or by direct phone call to get connected with our experts without any hesitation. So, for registering under the STPI registration for trading material or capital goods, get free assistance today to proceed with your application successfully through hassle-free procedures.

Conclusion

STPI registration is an important document to export software and hardware to other countries. This registration helps businesses to benefit from duty free exports, 100% FDI, and the ability to claim up to 100% depreciation. For obtaining STPI registration, you need to gather the required documents, understand the eligibility criteria, and follow the procedures. For ease in obtaining STPI registration, it is advisable to consult with an expert advisor to ensure the certificate is issued with the support of a competent expert team.

Frequently Asked Questions