- This IEC is a 10 digit code which is required for every import and export business in India. It is issued on the basis of Pan of an entity.
- This IEC is necessary in case a person wants to expand his or her business internationally by selling and importing to other countries and from other countries respectively.
- This IEC is mandatory without this no one could indulge in trade i.e. export and import. IEC is issued by the Director General of Foreign Trade (DGFT). This code is required by importers to clear customs and shipment.
- There are various situations where IEC is required. When an importer has to clear his shipment from the custom, the customs needs it; when an importer sends money abroad through bank the bank needs it; when an exporter has to send his shipment then it is needed by the customs port; when an exporter receives money in foreign currency directly into bank account then it is needed.
- An individual or company who wants to do international business can get an IEC.
- Pan card of the company (no need in case of sole proprietor)
- Applicant’s PAN and Aadhaar card, driving license, voter id
- Incorporation certificate partnership deed
- Address proof of the company or location (electricity bill, rental agreement or sale deed)
- Banker certificate or copy of cancelled cheque of the account in the name of the company.
- Go to DGFT Website
- Click service tab –> online IEC Application
- Enter PAN details
- One time password will be generated
- Fill the entity details, branch details, director or partner details
- Upload the scanned copy of documents
- Payment to be made online and an E-com number will be displayed. Then click submit and generate IEC Certificate.
- 10 to 15 business working days
- Helps in expansion of business to global level by adding e – commerce operations to venture.
- Fulfills obligation of import – export business
- There is no need for renewal the business entity could use import – export code registration for lifetime.
- End to End support for the registration procedure
- Speedy procedure
- Save your time
- Well defined systematic approach
- Complete online procedure
- Track your application status