Should we get registered under STPI?

Review (Director) (41 Points)

08 November 2009  

Hi All,

We are in the process of incorporating a company. Our company would deal in export of software/software services to individual /entities abroad. Since we will be dealing in 100% exports, we are contemplating to get it registerd under STPI scheme which has been extended till 2011.

I have some questions regarding the same:

  1. In your opinion, what should be the minimum turnover of the company that is aiming for STPI? (In understand there is no official word from government but given the hassles registration brings with it, I am asking this question)
  2. What is the minimum employee strength for registering under STPI? ( I couldn't find such info on mca.gov.in)
  3. Is it mandatory to have an office set up for STPI? If yes, any cost effective workarounds? (like Virtual office etc)
  4. We are based in Bangalore, any idea on what is the average time duration it takes for a company to get registered under STPI bangalore?
  5. Given that we are starting with an authorized capital of 100,000INR, what shall be the total cost for set up ( I would appreciate a break-up in terms of STPI fee + CA fee)
  6. What are the pros and cons of registering a company under STPI?

Thanks
Ankur Jain