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This is very specific to an Indian startup scenario, is it legal or possible to do a self starter campaign or a kickstarter campaign as a startup registered in India. The customer base will be largely in US, India and perhaps rest of the world.

I am currently bootstrapping my startup and had spent some time a few months ago, trying to uncover whatever details I can about the very same question. Currently there are many grey areas in this field where laws have not yet been properly formulated in a comprehensive manner to take into account this new phenomenon in the world of funding. I am assuming you are asking this question for an unlisted, private limited company (meant for profit) and are specifically talking about equity-driven crowdfunding, and that you have registered your company following due procedures with the RoC.

There are certain issues with respect to FEMA and SEBI regulations, some clauses of the Indian Companies Act, etc. which affect your question's exact answer. I would be glad to discuss more details about the same over a call, and also in case my assumptions made above do not hold true.

Also, since you mention that you will be having overseas customers as well, don't forget to get an import-export code for the organisation, from the directorate general of foreign trade (if not done so already).


Answered 8 years ago

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