- Software Technology Parks of India is an Autonomous Society set up by the Ministry of Electronics and Information Technology (Meit), Government of India in 1991, with the objective of encouraging, promoting and boosting the Software Exports from India.
- The Software Technology Park (STP) scheme is a 100% export oriented scheme for the development and export of computer software using data communication links or in the form of physical media including the export of professional services.
- The major attraction of this scheme is single point contact service to the STP units.
- STP units are exempted from payment of corporate income tax upto 2010.
- All the imports of Hardware & Software in the STP units are completely duty free.
- Import of second hand capital goods is also permitted.
Following entities have become STPI
- An Indian company A Subsidiary of a Foreign Company
- A branch office of a Foreign Company
- In order to become certified member unit under STP scheme, approval from the competent authority is required. The following steps are involved for obtaining approval:
- An application in the prescribed format for registering and establishing a STP unit is to be submitted to the local office of the Software Technology Parks of India.
- The application should have the details of the Software Project in terms of strengths, area of expertise, marketing arrangement, business plans, means of finance.
The following STPI registration processes are followed while applying for registration.
- Application form in the prescribed form
- Memorandum of Association
- Article of Association
- Detail of the project and business plan
- Complete details of the CEO of the firm
The following rules and regulations should be adopted while filing for STPI registration in India
- Complete Company Profile
- Capital Structure
- An estimation of Capital Goods Requirements
- Export Earnings
- Different Areas of Expertise
- Foreign Collaborations.