MSME Registration is the official process of registering a business under the Ministry of Micro, Small, and Medium Enterprises (MSME) of the Government of India. It provides formal recognition and helps businesses avail a range of government benefits like easy loans, subsidies, protection against delayed payments, and more.
Simple Registration Process
MSME registration is required for micro, small and medium sized enterprises to avail various incentives provided under the MSMED Act.
What is MSME Formation?
MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. MSME Enterprises are typically more labour intensive than large corporates and provide tremendous employment potential at a very low capital cost. MSME also share a major portion of industrial production and exports in India and play a pivotal role in the development of industrial economy.
Therefore, to promote and develop MSMEs; the MSMED Act of India facilitates promotion and development of enterprises through many incentives, schemes and subsidies. To obtain the benefits under MSMED Act, MSME Registration is a must and proprietorship firms, partnership firms, LLPs, Private Limited Company’s and Public Limited Companies can register.
Documents Required for MSME Registration
For Individual / Proprietorship
- PAN card ID proof and address proof of Individual
- Date of Commencement of Business
- Name of Business
- Bank Details – Copy of cancelled cheque or first page of Pass Book or first page of recent bank statement with latest transaction summary.
- Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc in the name of applicant or in case the premises is rented, Rent Agreement.
- List of goods or services in which dealings
- Aadhar number should be linked with mobile number to get OTP
For the Company/ LLP
- PAN of Business Entity
- Scanned copy of Notarised Rental Agreement in English
- PAN of all the directors/Designated Partners
- Date of Commencement of Business
- Date of Commencement of Business
- Bank account proof i.e first page of company’s current account statement
- E-mail/ Mobile No.
- Commodities and services in which dealing
- Aadhar number should be linked with mobile number to get OTP
- MOA/ AOA (optional)
- Proof of place of business
- In case of rented/leased premise- copy of rent agreement and electricity bill in the name of owner
- In case of owned premise- Electricity bill