Business Aadhaar, also known as Udyog Aadhaar, is a unique 12-digit identification number assigned to business entities. It is issued by the Ministry of Micro, Small, and Medium Enterprises (MSME) of the Indian government to recognise and support Small and Medium Enterprises (SMEs).
In August 2020, the ministry announced changes to the existing Udyog Aadhaar Memorandum and introduced a new registration system for SMEs, known as Udyam Registration. This transition aims to streamline the registration process and provide better benefits to registered businesses. Keep reading to explore the step-by-step process for migrating from Udyog Aadhaar to Udyam Registration.
Why do companies need to update their old Udyog Aadhaar?
Udyog Aadhaar provided MSMEs with various benefits such as subsidies, loans, and exemptions, but its registration process had certain limitations. It was time-consuming, and required much documentation, with a greater scope for errors leading to rejection.
Conversely, the streamlined Udyam registration is an entirely online and paperless process requiring absolutely no documentation or proof. Upon registration, the MSME gets a certificate and a unique permanent identification number that allows it easy access to credit, subsidies, and government schemes.
MSMEs wishing to continue availing of the benefits must migrate from Udyog Aadhaar to Udyam registration.
Procedure to migrate Udyog Aadhaar to the new Udyam Registration
The process of Udyog Aadhaar to Udyam migration is a hassle-free one. You can complete it online via the official government portal at zero cost. Just follow these simple steps:
- On https://udyamregistration.gov.in/ click on the ‘for those already having registration as UAM’ option.
- Supply your Udyog Aadhaar Number or UAN when prompted and verify it using either your previously provided mobile phone number or e-mail address.
- Once the system authenticates your provided information, you will receive your e-certificate or Udyam Aadhaar certificate.
Important documents required for migration
The following essential documents are required for migrating from Udyog Aadhaar to Udyam Registration:
- PAN card and Aadhaar card
- Business address proof
- Copies of sale and purchase bills
- Partnership deed / Memorandum of Association (MoA) and Articles of Association (AoA)
- Copies of licences and machinery purchase bills
- Details of previous registration
- National Industrial Classification (NIC) code
- Current business activities
- PAN number and total investment made in the business
- Owner’s current address and bank account details
Conclusion
Migrating from Udyog Aadhaar to Udyam Registration is a straightforward process that enables businesses to access enhanced benefits. To begin, businesses must visit the official Udyam Registration portal, select the migration option for those already registered under Udyog Aadhaar, and enter their Udyog Aadhaar Number. A verification step via mobile number or email ensures account security. Upon successful authentication, a notification prompts businesses to revisit the portal to complete the process. Once the Udyam Certificate is issued, enterprises become eligible for various benefits, making this transition a vital step in maximising the advantages of Udyam Registration.
