Documents Required for Udyam Registration

What is Udyam Registration?

As already declared by the Union Ministry of Micro, Small and Medium Enterprises (MSME), vide the Notification Dated 26th June, 2020, the new process of Classification and Registration of enterprises is starting form 1st July, 2020, An enterprise for this purpose will be known as Udyam and its Registration Process will be known as ‘Udyam Registration.

Who is Eligible for Udyam Registration?

Any person who intends to establish a micro, small, medium enterprise may file online udyam registration.

What are the Documents Required for Udyam Registration?

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The Online Udyam Registration application process is based on self-declaration, and there is no further requirement to upload any documents, certificates, papers, or proofs.

The user will only need to provide their 12-digit Aadhaar Number, Pan Card and Bank Account details of Business for the registration process.

There is no need for physical documents or any soft copies. The overall process just needs details about your business.

Udyam Registration Process

The Following simple 3 step procedure is to be followed:

An MSME needs to apply for online Udyam Registration in Udyam Registration Portal.
On successful submission of application, the enterprise will be assigned ‘Udyam Registration Number’ (i.e., permanent identity number).
On completion of the registration process, the enterprise shall be issued a ‘Udyam Registration Certificate’.

Benefits of Udyam Registration

Easy Bank Loan upto 1 Cr without Collateral/ Mortgage.
Udyam Registration is the proof of Proprietorship.
Udyam Registration can be used to get current account for business.
Special Preference in Procuring Government Tenders
1 percent Exemption on interest rate on Bank Overdraft (OD)
Concession in Electricity Bills
Protection against the delay in payment from Buyers
Tax Rebates
Special 50 percent discount on Government fees for Trademark and Patent
Fast Resolution of Disputes
Government recognition.