IEC REGISTRATION

Import Export Code, commonly abbreviated as IEC is the first registration required for the business entities who are dealing in Importing or exporting goods and services from India. Import Export Code is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT). It is a passport for import and export business. IEC is required by importers to clear customs and shipment and to transfer money to foreign banks. Exporters require IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.

Why register for IEC?

• The IEC registration helps traders open the doors to venture into the global market, including registration in online e-commerce operators.
• Businesses can avail of government schemes like Merchandise Export from India Scheme (MEIS), Service Export from India Scheme (SEIS), and others from Customs and Export Promotion.
• No compliance requirements pos registration and hence maintaining the business is relatively simple.
• The process of obtaining IEC is not tedious and can be obtained with minimal, basic documents.

The detailed procedure for registration of IEC:

To get your Import Export license online, you will need to do the following simple IEC registration procedure.

1) The online IEC application form in the format Aayaat Niryaat Form no. 2A is filed with the Directorate General of Foreign Trade. Alternatively, it could also be done offline at the Regional office of DGFT.
2) All the required documents, including bank details and DSC, have to be submitted.
3) Next, the Import-Export code will be allotted and the application will be processed further.
4) Once the documents and application are verified by the authorities, the import-export license will be granted as a soft copy to the entity.

DOCUMENTS REQUIRED

• Sole Proprietorship

• Digital photograph (3*3)
• Copy of pan card of the proprietor
• Copy of passport/voter id/driving license/UID
• If the business is self-owned, then sale-deed
• If the business is rented, then rental/lease agreement

• Partnership Firm

• Digital photograph (3*3) of the managing partner
• Copy of partnership deed
• Copy of passport/voter id UID/driving license/PAN of the managing partner signing the application
• Sale-deed, in the case of self-owned business
• If the business is rented, then the rental/lease agreement
• Bank Certificate as per ANF 2A/ Cancelled cheque bearing the blueprinted name of the applicant entity and A/c