If you move your address, it can make it easier to update your Udyam certificate. Actually, your Udyam certificate will not be considered invalid, but having a certificate with an old address can confuse you when applying for loans, confirming details with your bank, and government tenders. And MSME owners often forget to update their address. So this article is actually for all those MSME owners who don’t modify and update udyam certificate.
What Happens When Your Business Address Changes but Your Udyam Certificate Is Not Updated?
If you haven’t updated your Udyam certificate with your new details, it will state your old address, confusing the MSME/ Udyam Registration system.
If you have moved your unit and have updated your electricity accounts, rental agreement, etc., but not your Udyam certificate.
This can confuse when confirming your details with your bank or government department/organization.
You may experience:
- Address inconsistency.
- Extra checks when applying for loans.
- Address confusion.
- Lengthy checks on your tender documents.
- Confusion when updating documents.
Whilst your Udyam certificate will not be considered invalid, it’s always best to ensure your details are up to date.
Overall, your MSME certificate will have an old address, causing some issues with documents.
Can an Outdated Address Affect Your MSME Benefits?
It depends on the scheme.
If you have moved your workshop and are looking to apply for a government scheme, there may be a discrepancy: like you have given your new address, your Udyam certificate will still have your old address. This could cause the department to ask questions and request extra documentation.
You may experience some issues with your MSME benefits, but you won’t lose out completely.
It is advised to check your certificate before applying for any benefits. These include:
- Financial support.
- Credit.
- Priority sector lending.
- Government procurement.
- Business development schemes.
And any other facilities requiring a Udyam registration.
The RBI has explained how the Udyam Registration Certificates are used to identify what category of MSME you fall into for Priority Sector Lending.
Overall you won’t lose out, but you may have some clarification needed.
What Problems Can Arise During Business Loan Applications?
Banks typically want to confirm a few details about you; these include:
- Who you are, that means applicant identity
- Your business
- Financial Records
- Your address
Having an old address can cause some confusion.
If you own a small business and have moved your wholesale grocery business to a new market, you may have updated some of your documents but forgot to update your Udyam certificate.
This can cause some confusion.
They may ask you to update your documents.
To avoid any confusion, make sure the following details are consistent:
- Udyam Registration Certificate
- Loan application
- GST details
- Business proof of address.
- Bank details and any other documents match.l
Just because you have an old address on your certificate doesn’t mean you will be turned down by the bank; they will base their decision on their lending criteria. Overall, having an incorrect address can cause some extra checks and documents. Making sure all your business details match can avoid any unnecessary delays.
Can having an incorrect business address affect Government Tenders?
Yes, it can cause some issues with your documents.
Government departments and procurement will want to confirm your business registration to make sure you are eligible and to confirm what you have provided. If you have an old address on your Udyam certificate, you may need to provide clarification.
If you are a contractor and have moved your registered business address from Bokaro to Jamshedpur and still have an old Udyam certificate to apply for a tender, and they require the details to match, you may need to provide clarification.
Depending on the tender terms, you may experience some issues, but no one will be disqualified.
Before applying for a tender, ensure:
- Your Udyam certificate has your new address.
- Your tender application has your business details.
- Your proof of address is updated.
- The tender requires any geographical details.
Overall, having an old address can cause some issues with confirming your tender documents. Make sure you check what is required.
How Can You Update Your Business Address in Udyam Registration?
You can update your current registration via the Udyam Registration Portal. You do not need to reapply for a new Udyam Registration.
- First, visit the Udyam Registration website.
- Click on Update Udyam Registration. Then fill out the Update Udyam Registration form.
- Enter your Udyam Registration Number and all the details that are required.
- Update your business address.
- Choose either to verify via mobile or email and enter your OTP.
- Submit the application.
Make sure you enter your new address, including:
- Flat/Door No
- Building Name
- Road
- Village/Town
- District
- State
- Postcode
If your factory or other business unit has moved, make sure you check your address.
Once submitted successfully, make sure your details have been updated. For this, download Udyam annexure certificate PDF to review the updated details.
What Should You Check Before Updating Your Udyam Address?
Often, people get confused between their official address and factory address.
For example, if your business is registered in Patna but your manufacturing unit is in Gaya. You have only moved your factory, so you may accidentally update your office address.
Make sure:
- Your address is correct.
- Check if you need to update your plant/unit.
- Know your district and postcode so you can enter them correctly. Entering them incorrectly can be confusing.
- Check if you need to update your GST details.
- Have your registered mobile number and email address to complete verification.
- Have the correct documents to hand. For example, an updated rental agreement, electricity bill, and proof of address.
As it’s a self-declaration process, you typically won’t need to upload any documents.
Overall, make sure you know what address you need to update, check your business and unit details, and have the correct documents.
What Mistakes Should You Avoid When Updating Your Address?
- Do not reapply for a Udyam registration. If you have a valid Udyam number for your business, use the update option.
- Do not leave any details blank. Make sure you don’t miss any postcodes, district names, and road names.
- Do not update any extra units. If your factory/warehouse or other unit has moved, make sure you check if you need to update.
- Do not enter different addresses. Make sure you know what address to enter.
- Do not share your OTP. Make sure you verify securely.
- Do not download your existing Udyam certificate. First, update it, then download and save your updated Udyam certificate.
Overall, make sure you are using your current registration, entering correct details, and updating any relevant addresses. Save your updated certificate.
What Should You Do After Updating Your Udyam Certificate?
- Once you have updated your Udyam certificate, make sure to check any other documents that may have your old address and update your address in those documents as well.
- Download your update ned Udyam certificate.
- Check your GST registration, bank details, invoices, licenses, and any other relevant registrations. Update using the correct official process.
- If you have applied for a loan/tender using your old certificate, make sure to contact the relevant institution/authority and ask whether you need to provide the updated document.
- Save your old certificate along with your updated certificate. It can be useful to have it on hand in case you need to provide any clarification.
- Remember, your Udyam certificate will not automatically update your address on other government databases; these will need to be updated separately.
Overall, download your updated certificate and check your details. Update any relevant business documents.
Conclusion
Moving your business is a natural part of growing your business. Just make sure you don’t forget to update your Udyam Registration Certificate. Having an old address can cause some confusion when applying for loans, confirming details for government tenders, etc.
Whenever you move your office, shop, factory, or registered business unit, make sure to check your certificate. Use the update option for your current registration and enter your correct details. Download your updated certificate.
This simple process can ensure your business details are consistent.
FAQs
1. Should I update my Udyam certificate?
If your registered business address has changed, then you should update your certificate. This will ensure your details are consistent.
2. Will my Udyam registration be invalid?
No; however, you may experience some issues using it.
3. Can I update my Udyam certificate address online?
Yes, use the update option on the official Udyam portal. Complete verification, update your address, and submit.
4. Should I reapply for a Udyam registration?
No, just update your current details.
5. Can I update my factory address?
Yes; however, if you have only moved your factory/plant, make sure to check and update the correct unit. Do not update your official business address.
6. Do I need to upload proof of address?
Typically, Udyam is a self-declaration process, so you won’t need to upload any documents. However, make sure you have valid proof of address.
7. How can I download my Udyam certificate?
Go to the official Udyam portal. Go to your registration and click Print Certificate. Make sure your new address is showing, and save.