IEC Registration
Do you want to bring goods or services into or out of India?
Get IEC now to begin your import/export business!
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What is IEC registration?
IEC stands for Import and Export code. It is a 10 digit number which has a lifetime validity. The IEC certificate is granted by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. One cannot import without first getting themselves registered for the IEC certificate. Even exporters can only take advantage of customs, export promotion and DGFT benefits if they have the IEC certificate.
Table Of Contents
An Overview
India has witnessed a huge growth in the export and import sector in recent years. Indian businesses are looking to expand their base from domestic to international markets, whereas multinational companies like Google, Amazon, Emirates, etc. are entering the Indian marketplace. An importer requires an IEC certificate to clear his shipment from the customs and also to make payment to the foreign party. Exporters use the IEC code to send shipments to foreign countries and receive payments from their foreign clients.
All types of business structures such as proprietorship, partnership firms, LLPs, Companies and charitable organizations are eligible to apply for IEC certificate. IEC certificate is not required if the goods or services imported or exported are for personal use or for traders who are registered under GST.
Related read: An Overview On GST And 5 Ways GST Impacts Your Business
Benefits
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Lifetime Validity
IEC is a one-time registration process. You are not required to renew your IEC certificate unless there are any changes in the business. -
Benefits from the government
Subsidies from Council of Export Promotion and Customs are available if you have an IEC certificate. Also, various DGFT benefits can only be enjoyed if you have the IEC certificate. -
Lesser compliances
IEC certificates helps in reducing the additional formalities in case of export and import and also reduces bureaucracy and frauds. -
Access to global markets
Entities cannot export goods or services without holding an IEC certificate. IEC certificate is a key to take the products or services to the foreign market & help businesses grow.
Documents Required
- PAN Card Of Applicant (Company, LLP, Trust etc.)
- Residential Proof Of All Director/Partner/Proprietor (Electricity Bill/ Rent Agreement/ Sales Deed)
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Identity Proof Of All Directors/Partners/Proprietors (Aadhaar Card/ Driving License/ Voter Id)
Type of Applicant Company Limited Liability Partnership (LLP) Partnership Firm Documents Required Certificate of Registration + MOA & AOA Certificate of Registration + LLP agreement Partnership Agreement
Related read: How To Choose Between A Private Ltd. Company And LLP?
- Cancelled Cheque Or Bank Certificate In From ANF – 2a(i)
- In case of a foreign investment in the entity, in addition to above documents following documents shall also be required
- Scanned Copy Of Report On Money Invested Filed With The RBI
- Scanned Copy Of Form FC-GPR
- If Specific Permission Granted To The Entity, Then Scanned Copy Of The Permission
How will we help you?
- Submit a service request by clicking here
- Our team will contact you with a simple checklist
- Fill in the checklist
- Submit the documents
- Documents shall be verified by our expert team
- Application for IEC is filed with the authority
- IEC certificate granted
- Throughout the process, our dedicated manager will keep you updated on the progress of the application.
FAQs
Once you submit your documents, we shall verify the documents and if everything seems proper we shall file the application. This normally takes 2-3 days. Once the application is filed, it normally takes 5-6 working days for the department to process the application & issue an IEC certificate.
IEC certificate is issued for a particular Pan No. So if all the branches have the same PAN number then you don’t need to separately get an IEC certificate for all the branches. Rather you can have the name of all the branches in the same certificate.
There is no compliance to be fulfilled after the registration of your IEC code.
Yes, you can update your IEC code by submitting all necessary documents to the authority.
Yes, you can make a request to the DGFT online to cancel your IEC certificate.
Speak to our experts who shall solve all your doubts.
Call us at +91 7738 066 334 or Mail us at info@indiacompanyincorporation.com
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