Top 5 Business Licenses and Permits in India

Government agencies issue business licenses as permits for individuals or companies to conduct business as per government rules. A company often requires multiple business licenses which are issued by various government agencies.

The type of license may differ as per the nature of the business. Here in this article, the top 5 business licenses in India are given below.

1. Insurance Broker License

Insurance brokers can be a company or an individual which represents Insurance companies. For a company the person can be a direct broker, a reinsurance broker or a composite broker. The Insurance Broker License is provided to individuals or firms who have the knowledge of insurance related laws and insurance products. Anyone who wants to become an insurance broker must take a license from the Insurance Regulatory and Development Authority of India.

The procedure to get a Insurance Broker License

• The applicant must fill an application by mentioning the type of insurance broker license. 
• Fill the application FORM-B Schedule I of IRDAI regulations. 
• Attach the documents mentioned in FORM-C Schedule I of IRDAI regulations.
• Finally submit the application with fees. The fees will vary on the type of insurance broker
  • Direct Broker - Rs. 25,000
  • Reinsurance Broker - Rs. 50,000
  • Composite Broker - Rs. 75,000

The fees should be paid online or through Demand Draft (DD) in favor of IRDAI of India, Hyderabad. The insurance license which is issued by IRDAI would be valid for 3 years from the date of issue. Any insurance broker cannot run a proper insurance broker business without the certified license. 

2. Legal Metrology Certificate

Metrology is a science of measuring. Legal Metrology helps provide for the control of measurements and measuring instruments. Legal Metrology falls under the category of Department of Consumer Affairs. The basis of day to trade practice should be transparent between consumer and trader. 

As per the metrology act 2009, a person who is involved in the sale or distribution of packaged goods such as import, and export of consumer food items. A legal metrology license is also known as Legal Metrology Packaged Commodity (LMPC) License.

A Process to Get a Legal Metrology License

1. An applicant must fill an application with important documents. There are three type of application:
   •  Form LM-1 for manufacturer license
   • Form LR-1 for Repairer License
   • Form LD-1 for Dealer License
2. Submit the documents to the authority. 
3. A Local Senior Inspector will verify the documents, once all the steps will complete, pay the fees and get a license.

An LMPC license needs to be updated every one year or five years. The validity may differ. According to Legal Metrology Rules 2011, the renewal application must be submitted 30 days before the expiry of the original document.

3. TEC Certification

Telecommunication Engineering Center (TEC) assists the Government of India's Department of Telecommunications (DoT) to develop and implement the different standards and policies regarding emerging technologies. 

As per the complexity and structure of the product the license will differ such as General Certification Scheme and Simplified Certification Scheme. Below is the process to get TEC certificate:

The Procedure to Get TEC Certification in India

1. An applicant first needs to register on the MTCTE portal.
2. Upload all the required documents with application. The changes will not be done once the documents are uploaded.
3. TEC will check the documents, and in case of any change and requirement it will be communicated to the applicant.
4. Pay the fees, and select the Conformity Assessment Bodies (CAB) test. 
5. After the test, submit the report and read the online undertaking about the information uploaded is correct. 
6. The test will be reviewed and TEC will grant a license if the product is as per the standards.

4. VNO License

Virtual Network Operator (VNO) is an internet service reseller who sells high quality network and management services to other networking companies that don’t have their own telecom setup. 

However, VNO is the same as ISP but on a smaller level. The Department of Telecommunication Delhi issued a VNO license. The validity of the license is 10 years and after that it can be renewed.

The Procedure of Getting a VNO License

1. An individual cannot apply for the license. A company, Private Limited Company, a Sole Proprietorship or Partnership company can apply for the VNO license.
2. Select the VNO category:
   • Class A License: Valid in PAN India.
   • Class B License: Valid within a metro India
   • Class C License: Valid within a secondary switching area
3. Analyze cost and set your budget as per the category. Fill the form, and pay the fees of Rs. 15,000 through DD or pay order on account officer of DOT.
4. Once all the documents are checked and they are satisfied with it, they grant a Letter of Intent.
5. Lastly, fill the non-refundable fees and submit the document. You get the unified license under Unified License. 

5. EPR Certificate

Extended Producer's Responsibility (EPR) certificate is mandatory for all Manufacturers and Importer of product for E-waste management. The EPR importers and manufacturers of electronic products have been given the responsibility to control E-waste by the products after the expiry date.

The importers/ manufacturers have to provide documentary evidence to manage the E-waste. Along with this they need a certificate, and all the steps to apply are given below. 

A Process to Get a ERP Certificate in India

1. Understand the requirements to get a certificate by reading an EPR certificate format.
2. Fill the application form with all the required documents. 
3. Submit the form to the CPCB office along with the certificate cost. 
4. Central board will check the online application and if found any discrepancy it will convey.
5.  Once all the details and documents are satisfied, the EPR certificate will be granted.

Conclusion

Remember, when you are applying for a license there are specific details that need to be filled carefully and this is where an expert can help you. Before applying for any license and certificate get in touch with our experts to apply correctly and remove the chances to get your application rejected.

People also read: How to start a currency exchange business in India?

Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.