Import Export CodeLegal Notice

Starting a Business Importing Goods from China

While India-China relations stay frozen, New Delhi continues to remain engaged with Beijing on issues related to market access, even as the government is also looking at ways to reduce dependence on Chinese products in critical areas.

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You do not need a special Import-Export License in India to do business with China. You just need an import-export licence with an IEC to do business with China or any other country in the world. If your business is new, that IEC is your 10-digit PAN. In this article, we will tell you in detail about how to obtain an import-export license online and the documents required for an export-import license.

What Is an IEC?

IEC stands for import-export code and is also known as an import-export license in India. The IEC is a 10-digit number that allows the DGFT (Directorate General of Foreign Trade) to any Indian business entity that seeks to do international trade from India. However, to ensure ease of doing business, the Government of India recently said that your 10-digit PAN card will suffice as an IEC number.

Prerequisites for IEC Application in India

You need to keep in mind the following points before applying for an import-export licence in India-

  1. You need to choose your products carefully. The import-export license is issued for the specific category of product for which you apply. You need to pay an additional fee if you want an IEC for additional product categories
  2. You need to register your company if you have not done so already. Also, choose an appropriate name while registering. If you are a new firm looking to do an import-export business, you may consider names ending with ‘Exports’ (such as ABC Exports).  Post-registration, you will receive a TIN (Taxpayer Identity Number) and a CIN (Corporate Identity Number)
  3. Obtain a PAN in the name of your company
  4. Open a current account with a registered bank before you apply for IEC online
  5. You will need a bank certificate if you are unable to provide a cancelled cheque bearing your account number and the name of your business.

GET IEC CODE

Documents required for an Import-Export License

Here are the documentation criteria for IEC online application

A) If you are a proprietorship business:

  1. PAN of the applicant
  2. Passport-sized photograph of the applicant
  3. ID proof (any one from PAN card, voter ID, passport, driving license, and so on)
  4. Proof of business address (any one from rent/lease agreement, sale deed, electricity bill, owner NOC, and so on)
  5. Bank certificate or a cancelled cheque showing the name of the account holder and the account number

B) If you are a partnership business

  • Passport-sized photograph of the partner/director
  • PAN in the name of the partnership firm
  • Identity proof (any one from PAN card, voter ID, passport, driving license and so on) of the managing partner who is the signatory on the application
  • Proof of business address (any one from rent/lease agreement, sale deed, electricity bill, owner NOC, and so on)
  • Bank certificate or a cancelled cheque showing the name of the account holder and the account number

C) If you are an LLP or company (both private & public)

  • Passport-sized photograph of the partner/director who is the signatory on the application
  • PAN in the name of the company/LLP
  • Identity proof (any one from PAN card, voter ID, passport, driving license, and so on) of the authorised signatory
  • Proof of business address (any one from sale deed, electricity bill, rent/lease agreement, owner NOC, and so on)
  • Certificate of incorporation
  • Bank certificate or a cancelled cheque showing the name of the account holder and the account number

How to Apply for an Import-Export License Online

Here is the step-by-step process to apply for an IEC online-

STEP 1: Visit the online portal of DGFT. Click on the ‘Apply for IEC’ tab

STEP 2: You will be prompted to an online form where you will need to fill up your details (Name, mobile number, email ID, etc). An OTP will be sent to your mobile number. Enter the OTP in the space provided and click the ‘Submit’ button.

STEP 3: On the resulting page, you will need to submit details related to your business such as establishment date, PAN, account details etc. After completing, click ‘Submit’ to proceed

STEP 4:   In this step, you will need to pay the requisite IEC application fee. You can make the payment through an electronic fund transfer

STEP 5: After successful payment, you will need to upload the digital copies of the documents required

STEP 6:  In this step, you will be asked to submit the completed IEC application form. On successful submission, an Ecom Reference Number will appear on the screen

STEP 7:  Take a print of the completed IEC application form. You need to submit it to the DGFT office having jurisdiction in your area

STEP 8:  On successful verification of your credentials, your IEC will be issued within 3 to 7 days.

Vakilsearch will smoothly execute the import-export license online registration process for you. Our dedicated representatives will file the IEC application on your behalf. Post the submission; we would be doing the necessary coordination with the DGFT for expediting your application. We will ensure you receive your import-export licence in just a few days.

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