Udhyog Aadhar Card Registration
Accounting is a premier accounting firm which provides taxation, accounting and bookkeeping services in the Greater Toronto Area.
What is Udyog Aadhar?
Recently to boost small-scale businesses in the country, the Government has started the Udyog Aadhaar Registration process. Before this, if you wanted to start a business and get MSME or SSI registration, you had to go through a long process of paperwork.
You have to fill only 2 forms: Entrepreneur Memorandum-I & Entrepreneur Memorandum-II instead of 11 different types of forms that were required earlier.
The Udyog Aadhar Registration is an online process which is free of cost. Industries registered with Udyog Aadhar are entitled to receive the benefits of several government schemes such as subsidies, easy loan approvals and more.
UAM (Udyog Aadhaar Memorandum)
Udyog Aadhaar Memorandum is the registration form where the MSME certifies its existence and also provides mandatory information such as the owner’s Aadhar details, bank account details and other information.
After the submission of this form, an acknowledgement form is sent to the registered email address of the applicant that consists of the unique UAN (Udyog Aadhaar Number).
As it is a self-declaration form, there is no need for any supporting documentation.
Note: Supporting Documents are not needed, but any state or central authority can ask for any specific documentation as proof of the information that is provided in the UAM form
Udyog Aadhaar Registration Process
- SME (Small and Medium Scale Enterprises) owner has to fill the one-page form that he can fill either online or offline. For online registration, the applicant has to visit the official website: www.msme.gov.in
- If an applicant wants to register for more than one industry then they need to opt for individual registration
- In this form, the MSME is required to self-certify its existence with details of the business activity, bank account details, employment & ownership details along with other information
- During the registration process, the individual has to provide his self-certified certificates
- There is No registration fee that has to be paid for this process
- After filling and uploading the details and all required documents, the registration number will be generated and mailed to the registered email address given in the UAM which will contain unique Udyog Aadhaar Number [UAN].
Benefits of Udyog Aadhar Registration
- Benefits of all government schemes such as easy loans – loans without any guarantee and subsidized rates of interest and others
- Financial support in order to participate in foreign expos where they can showcase their products & services.
- The applicant will also be eligible for various subsidies from the government.
- Registration will facilitate hassle-free opening of the current account for the business.
- Allow the business to apply for government micro-business loans and other related beneficial financial schemes.
With more than two lakhs registered businesses in the MSME category, the industry is moving towards becoming systematized and organised with maximum benefits for entrepreneurs.