Startup Current Account Eligibility Requirement

The eligibility for Startup Current Account in India includes that the entity type must be either Private Limited, Partnership, Limited Liability Partnership (LLP), or One Person Company (OPC). Furthermore, the entity should have been incorporated for less than 10 years from the date of its incorporation. It is essential for the entity to demonstrate the use of innovative technology, methods, or processes in its business operations. Additionally, the entity should strive towards adopting a scalable business model with significant potential for wealth creation. Lastly, a specific declaration must be provided in the MID (Merchant Identification Number) during the account opening process with HDFC Bank.

The eligibility for Startup Current Account online is determined by several factors. The entity type must be either Private Limited, Partnership, Limited Liability Partnership (LLP), or One Person Company (OPC). Moreover, the entity should have been incorporated for less than 10 years from the date of its incorporation. It is essential for the entity to demonstrate the use of innovative technology, methods, or processes in its business operations. Furthermore, it should aim to adopt a scalable business model with substantial potential for wealth creation. Additionally, a specific declaration is required in the MID (Merchant Identification Number) during the account opening process with HDFC Bank.

To be eligible for the Startup Current Account, the entity must have been incorporated for less than 10 years from the date of its establishment.