- 1 International Trade always fascinates you?
- 2 How to get started with Import Export Business?
- 3 What exactly is the 10 digit “IEC” number? And what are its benefits?
- 4 What are the documents required to Get IEC Code in India?
- 5 What is the Procedure to Get Import Export license?
- 6 How many days it takes to get Import Export License?
- 7 What is the Cost of getting IEC Code ?
- 8 Need Help? Please fill below form to Get in touch
International Trade always fascinates you?
These days it has become really easy to get good global trading opportunities. Global trade is on the rise and all thanks to Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India for making it easier to start an Export Import Business in India and Get an IEC Code.
How to get started with Import Export Business?
The DGFT (Director General of Foreign Trade) issues a unique 10 digit Alpha numeric (IEC) number to any bonafide person/ company starting any International Import and Export of Goods or Services by any Manufacturer, Trader or Service Provider with a view to maintain the unique identity of an entity.
What exactly is the 10 digit “IEC” number? And what are its benefits?
The unique 10 digit alpha-numeric number is to be called as an “Importer-Exporter Code”. It is also known and recognized as the “Import Export License” . An IEC will be equal to Permanent Account Number which is also known as “PAN” and will be allotted separately by the DGFT based on an application. This 10 digit alpha-numeric number a.k.a., Importer-Exporter Code (IEC) is mandatory for the startup of any kind of import and export business/ trading on a global or International level. Without an IEC it is impossible to commence any type of trading with the neighboring countries or with any entity outside India. In short, this number works as a license for International Trading.
What are the documents required to Get IEC Code in India?
Documents for IEC Code in case of Proprietorship Firm
1. Passport size photograph of the applicant.
2. Copy of Permanent Account Number PAN card (personal)
3. ID proof (passport / voter id / driving license / aadhar card)
4. Bank certificate OR cancelled cheque with printed name of applicant and bank a/c number.
Documents for IEC Code in case of Partnership Firm
1. Passport size Photograph of Managing Partner.
2. PAN card copy of partnership firm.
3. ID proof (passport / voter id / driving license / aadhar card / PAN of managing partner whose signature is on application.
4. Bank certificate OR cancelled cheque with printed name of Applicant Firm and bank a/c number.
Documents for IEC Code in case of LLP or Company(both Pvt. Ltd & Limited)
1.Photograph of Partner or Director who is signing the IEC application form
2. PAN card copy of applicant LLP or company
3. ID proof (passport / voter id / driving license / aadhaar card / PAN of partner or director whose signature is on application)
4. Certificate of incorporation
5. List of directors
6.Bank certificate OR cancelled cheque with printed name of Company and bank a/c number.
Documents for IEC Code in case of Registered Society/Trust
2. Copy of PAN card of the applicant entity.
3. ID proof (Copy of Passport/Voter’s I-Card /UID (Aadhar Card)/Driving Licence/ PAN (any one of these) of the
4. Secretary or Chief Executive/Managing Trustee signing the application.
5. Address proof (sale deed for self-owned; or rental / lease agreement + electricity bill or telephone bill)
6. Registration Certificate of the Society / Copy of the Trust Deed
7. Bank certificate OR cancelled cheque with printed name of Registered Society or Trust and A/C No.
Note: All the copies should be self-attested/ certified except the photograph on the bank certificate which should be attested by the banker of the applicant.
What is the Procedure to Get Import Export license?
To obtain IEC, an application in the Aayaat Niryaat Form 2A (ANF 2A) format, accompanied with the required documents and application fees Rs. 500/- should be made to the Regional Authority of the Directorate General of Foreign Trade (DGFT) in the area where the registered office of the company is located. Submitting of Application to wrong DGFT Branch Office will lead to rejection of IEC Application.
Initially the applications were tendered physically with the Regional Director General of Foreign Trade Office. But vide Policy Circular No. 10 (RE-2010)/ 2009-14 DATED 31ST December, 2010, feature for Online Application for IEC Code has been given to the applicants w.e.f. 01.01.2011 at the DGFT website (http:/ /dgft.gov.in) to reduce the Transaction cost and time for the application. Please note that there is no offline procedure to apply for IEC Code, it has to be compulsorily made online.
1.In order to get IEC Code Online, you are required to visit DGFT web site at http://dgft.gov.in
2. Click on “IEC Online Application” option.
3. You will be asked to enter a valid PAN, after you enter the details of pan and press enter, you will be directed to the IEC Main Menu
4. To create a new IEC Application, select “Create” option from the “File” menu. System will generate and exhibit new “ECOM Reference No.
5. On clicking the “OK” button the user is forwarded to the “IEC Master” Screen for updating of party details.
6. After you fill the form completely, upload the required documents and move forward towards payment section
7. Click on the EFT button to make the online payment of fee.
8. Fill the IEC Fee amount in Indian Rupees (RS- 500). After selecting bank and filling the amount, click on OK button to submit it.
9. After the payment has been done Bank will generate BID number which can be used for future reference to the bank.
10. Click on Close button. The status message will be displayed on the screen whether the transaction was successful or not.
11. Once all the documents are submitted properly, they are verified once again with the help of the digital signature: a digital code which is generated and authenticated by a public key encryption, which is attached to an electronically transmitted document to verify the present contents in the documents and the applicant’s/ sender’s identity. And once the verification is successful the Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India issues the Importer Exporter Code (IEC) against the name of the applicant and his firm/ company.
This is all you required to do to fill your online IEC application form and get the 10-digit code from DGFT.
Note: Only one IEC number is issued against one PAN Card.
How many days it takes to get Import Export License?
The dispensation of IEC applications is assumed to be completed in two working days, which means you can get it in 3 days or a week at most.
What is the Cost of getting IEC Code ?
Government Fees for IEC Application is Rs. 500. Professional Fees for IEC Code is in the range of 2000 to 2500 only.
So get your IEC Code Registration done today for the issuance of your unique 10 digit Importer-Exporter Code (IEC) number and start your own International trading venture.
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