IEC Registration

IEC Registration

In the age where technology is bringing the world closer and globalization made the industries more compatible, it's reasonable for a business to expand its horizon to the international route. It not only gives the new market to explore but also gives a competitive edge over the peers. However, it is not that easy road to go global. Certain documentation and certification are required before selling your stuff to other countries. IEC (Import Export Code) license is one of such mandatory document that is required for either exporting or importing.

IEC Stands for IMPORTER EXPORTER CODE. It is issued by the DGFT (Director General of Foreign Trade) and it is mandated that any person without an Importer-Exporter Code (IEC) number shall make no export or import unless specifically exempted. IEC doesn't require any renewal or filing once it's issued. Thus, it is advised to most companies to get IEC that is dealing in import/export, whether they need it at the moment or not.

In order to obtain IEC certain guidelines should be followed:

1. First and foremost the application for obtaining IEC Number should be made online at DGFT website http://dgft.gov.in in the prescribed form ANF 2A.
2. Second, in case of proprietorship firm the documents required are digital photograph, PAN Card, Copy of Passport (first & last page)/ Voter’s I-Card/ Driving License/ UID (Aadhar Card), Address Proof (Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case-office, is rented/ leased; or latest electricity/ telephone bill and Bank Certificate as per ANF 2A(I)/ Cancelled Cheque bearing pre-printed name of applicant and a/c no.
3. Finally once the documents are in place then apply it online as it is mentioned in ANF 2A.

Application fee is also required to be paid electronically using net banking or debit/ credit cards. Applicants with digital signatures would sign the application with their digital signature and submit the same online.

In case the applicant does not possess a digital signature, then he would be required to take a print out of the filled up application (without attachments), sign the same and submit it to the concerned RA, either by Post or at the counter.

Note: The fee for new IEC or amendment in existing IEC is Rs. 500/.

IEC gives you certain advantages such as no filling of returns, easy processing and renewal not required as it is a one-time process, hence in order to expand the business, one should go for Import/Export Code.

Document Required

Documents Required for Obtaining IEC Registration are:

1. Identity and Business Proof
2. Identity and Address Proof of the Individual
3. Cancelled Cheque Copy