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Whether you want to import goods from China to India or export your goods to another country, you will need to have an IEC (Importer-Exporter Code) in the name of your business or firm. IEC is a 10-digit number allotted by the Directorate General of Foreign Trade, also known as DGFT. So, how to get an import-export license in India?
Types of Import Licenses in India
After procuring the 10-digit code issued by the DGFT, you can start international trade. Besides this, you do not need any special license to start an import-export business in India. The IEC is more than enough as a legal requirement to begin importing or exporting goods to and from the subcontinent. It’s even more relevant for new business ventures looking at global markets as a source of purchasing or selling of goods.
Since the import-export business aids in the overall development of a country’s economy, the Indian government has made the process of IEC application swift and easy. The Import-Export Code can be availed in less than a week and, due to the online process, applying for one is simple and fast. However, there are certain documents that you will be required to attach to the application form. Once the online process is completed, you will also need to visit the DGFT office.
You can find a DGFT office near your jurisdiction for further application submission according to your company’s location.
Required Documents and Process of Applying for IEC
As mentioned above, applying for the Importer-Exporter Code involves an online procedure. You can visit the official website and begin registration for IEC. Remember, the IEC license is issued for specific categories of goods, but you can increase the number of types by paying the applicable fees. Furthermore, you will need to register your company beforehand at the nearest airport or seaport, depending on your location.
Some basic requirements while registering for an IEC are a PAN card in your company’s name, a current account with a registered bank, and a Corporate Identity Number. Based on the type of company, you’ll require the following documents:
Proprietorship
- Passport-sized photograph and a PAN card of the applicant.
- Proof of identity in the form of an Aadhar Card, valid Driving License, or Voter ID.
- Proof of business like an electricity bill, sale deed, lease, or rent agreement with the NOC from the owner or other valid documents.
- You will also be required to produce a blank cancelled cheque in the name of the business. If not, a bank certificate will be necessary.
Partnership Firm
If you own a partnership firm, you will be required to submit passport-sized photographs of partners or directors and a PAN card in the name of the partnership firm to apply for an IEC license. ID proofs of the signed application signatory, proof of business, and a blank cancelled cheque are also mandatory.
LLP Company
In the case of an LLP Company, either public or private, passport size photographs and ID proof of the authorised signatory is required. Similar to other companies, an LLP must submit a PAN card under the company’s name, business proof, and a blank cancelled cheque in the name of the firm. Additionally, you will also need to submit the certificate of incorporation along with other documents.
According to the type of company, once you have all the necessary documents handy, you can begin the IEC registration process. Start with heading to the DGFT’s official website and click ‘Apply For IEC’. Once you start registering, you will be redirected to an online form that requires you to fill in the company’s name, contact details, email address, and an active mobile number of the applicant. Since the process is online, you are advised to keep a digital copy of all the required documents.
The DGFT website will send an OTP on the mobile number you have provided for further verification. Once you enter the one time password, the next page will require you to enter and submit documents related to your company. After successfully entering the name, PAN details, and other information, you will be redirected to the payment gateway page. An application charge will be asked, and you can make the payment via the electronic funds’ transfer method.
Once the payment is successfully transferred, you will be asked to share digital copies of all the documents mentioned in your application. After uploading the documents and clicking submit, the next and the final page will display an Ecom Reference Number with the name of your company and the location of the DGFT office which will handle your application request.
Take a printout of the page displaying your Ecom Reference Number. You will have to submit it to your nearest DGFT office having jurisdiction in your area. After completing the necessary formalities, your IEC number will be allotted two to three working days or a maximum within a week.
