Import Export Code Registration - an Overview

An import export code is a unique 10-digit code that is required for every import/export business owner in India. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and needs no filing or renewal. IEC is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require their IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the 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 government schemes like the Merchandise Export from India Scheme (MEIS), the 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.

Documents Required

The documents required for an IEC registration are relatively easy to get together. Only a few documents are required, which are listed below.

  • PAN card of the company (not applicable in case of the proprietor)
  • Applicant's PAN and Aadhaar card (driving license/Aadhaar/voter ID)
  • Incorporation certificate/partnership deed
  • Address proof (electricity bill/rent agreement/sale deed of the office location)
  • Copy of canceled cheque leaf/banker certificate of the current account in the name of the company.

Eligibility

Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with import and exports of goods can register for import-export code, irrespective of the size. However, an IEC is not required for import/export of goods for personal use, which are not connected with trade, manufacture, or agriculture. There is no need for a business set up.

 
     
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