What is Udyam Registration?
Udyam Registration, also known as MSME Registration, is a new process of registration for Micro, Small and Medium Enterprises launched by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. It replaced the earlier process of Udyog Aadhaar Memorandum (UAM) registration.
The registration process is fully online, paperless, and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME. The primary objective is to simplify the registration process for businesses and to provide them with a unique identity number, the Udyam Registration Number, and a certificate.
Who is eligible for Udyam Registration?
Benefits of Udyam Registration
Registering your MSME opens up a world of opportunities and benefits for your business.
Avail collateral-free loans from banks and financial institutions under various schemes.
Get special preference in procuring government tenders and contracts.
Receive concessions on electricity bills by making an application to the electricity department.
Protection against delayed payments from buyers and right to get interest on delayed payments.
Get subsidies from NSIC and avail benefits of credit rating for your business.
Reimbursement of charges for obtaining ISO certifications.
Get exclusive consideration for participating in international trade fairs.
Enjoy a significant waiver in fees for patent and trademark registration.
Documents Required for Udyam Registration
The Udyam registration process is simplified and requires minimal documentation, which is primarily for verification purposes.
- Aadhaar Card of the applicant.
- PAN Card of the individual or the company.
- Bank Account details of the business.
- Mobile number must be linked with the Aadhaar card.
- A valid Email ID for communication.
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