How to Apply for Udyam Registration Certificate?

 MSME Udyam Registration Certificate is one of the most essential certificates if you are the owner of any enterprise or business which is not yet developed into a large scale business. MSMEs (Micro, Small and Medium Enterprises) are one of the most integral parts of our economy. They are an important part of the business world and various industrial sectors across the country.

There are many benefits and benefits of registering your company or business as an MSME and obtaining an Enterprise Registration Certificate. The best part is that most of the businesses can take advantage of this registration, such as the manufacturing industry or even the service sector. There are many benefits of registering as an MSME (enterprise), including better taxation, better business setup and better credit facilities.

To ensure that your business qualifies as an MSME, there are various eligibility requirements that you need to check and know the registration process thoroughly before trying to register for the certificate. Since most of the business owners are not aware of these requirements and procedures, we are here to help you with this detailed guide about MSME Enterprise Registration Certificate.

Let us find out what exactly is an enterprise registration certificate, which businesses qualify as MSME, what benefits a business gets after obtaining an enterprise certificate, and how to register for the certificate.

Eligibility for MSME (Udyam) Certificate

To qualify as a micro, small or medium enterprise, your business must have an investment amount and annual turnover that is less than the minimum threshold for each enterprise.

To be more precise, here are the exact figures you would need to qualify your business as an MSME –

Micro Enterprises – To qualify as a micro enterprise for MSME registration, your business should have an investment amount of less than Rs. 1 crore and annual turnover less than Rs. 50 million.

Small Enterprises - To register your businesses as MSMEs to successfully qualify as a small enterprise, your business should have an investment amount of less than Rs. Annual turnover of less than Rs 10 crore and Rs. 50 crores.

Medium Enterprises – The largest and largest enterprise in this list, to qualify as a medium enterprise for MSME registration, you must ensure that you have an investment of less than Rs. 50 crore and annual turnover up to or less than Rs. 250 crores.

If your business is eligible for any of the above requirements, you can sign up for MSME registration immediately without any problem.

What are the documents required for Udyam Registration Certificate?

If you wish to register to apply for MSME certificate, there are certain documents that you need to collect with you to do so. These documents are-

Filled application form with all required personal and business details and passport size photographs.

• KYC documents for applicant verification such as Voting Card, Aadhar Card, Driving License, or Utility Bill containing your address.
• PAN card for business use.
• Certificate of business establishment.
• Income documents like income certificate.
• All necessary and required bank details.
• All bank statements for the last six months.
• Rent or lease agreement, if applicable.
• NOC is given by the landlord.
• Any other necessary document that the Bank may consider important.

After gathering all these documents with you, all you have to do is visit the specified website and file for the Enterprise Registration Certificate.

How to apply for Udyam Registration Certificate?

The process to apply for MSME Industry Registration Certificate is straightforward and does not require much effort from you.

All you have to do is visit https://udyamregisteration.org/  and register as a new user there. Make sure to have your Aadhaar and PAN card on hand as the website first asks for their number for verification of your account.

After filling your Aadhaar and PAN details you will be asked to validate each of your card numbers by entering the OTP received on your phone number.

The next thing you need to do is to check the type of business organization or enterprise you have in your business as well as the business PAN number that you have linked to your business accounts.

Once the verification is done, the website will ask you to fill in your personal details in the form and the details of the business or industry you are running. Make sure you check everything thoroughly, as a mistake could result in your form being sent back to you.

After you fill out your form, the website will verify your phone number or email you with a final OTP and send your form for verification by the agency. The verification process may take some time, so be patient during the process

Once your form is verified by the authorities and they are satisfied with it, you will be duly informed, and your MSME enterprise certificate will be issued, which you can download from the website.

Benefits of Udyam Registration Certificate

There are many benefits of having an Enterprise Registration Certificate which makes it worth your while for your business and enterprise. These benefits are -

Provides the facility of availing loans at low interest rates.

Helps you to get government tenders for your business.

Helps you to get business license, business approval and account registration easily.

Compensates you for all the amount you spend on ISO certificates.

This significantly reduces the overall cost of setting up your company or filing for a patent.

Companies registered under MSME certificate get tariff, tax and various subsidies on capital.

Your company can get a subsidy of 15% if you import fully automatic machinery under your bank loan.

Your company is fully exempted from all direct tax laws.

Conclusion

As you can see, there are many benefits associated with obtaining an Enterprise Registration Certificate, but it is essential that you know the eligibility requirements and documents required to obtain an Enterprise Registration Certificate. We hope this article was insightful for you.