Procedure to get Import-Export License in India
Posted on: 23/Jul/2019 3:30:44 PM
Here is a step-wise procedure to Setup a Business in India with Import-Export License:
- Choose your products. The Import Export Code (IEC) will be granted only for the product category you apply for. You can seek IEC for additional categories, but you will have to pay an additional fee for each category.
- Decide your company name, if you have not registered a firm as yet. New firms that are planning to do export-import business should consider names ending with Exports (for example Ramsay Exports).
- Register your firm, if it’s not already registered.
- Apply online for IEC - Importer Exporter Code with DGFT, and pay a fee of Rs. 250 through electronic money transfer.
- EDC Registration - Register your export company with the nearest port ( Airport and/or Seaport)
List of Documents Required for IEC Application
The exact documents required vary slightly based on whether your business is a proprietorship, partnership, LLP or company. Here’s the list of documents required for each one.
1. Proprietorship :
Photograph (3×3); PAN card copy; ID proof (passport / voter id / driving license /Aadhar card); Address proof (sale deed for self-owned; or rental / lease agreement + electricity bill or telephone bill); Bank certificate (see below) or cancelled cheque with printed name of applicant and bank a/c number.
2. Partnership :
Photograph (3×3) of managing partner; PAN card copy of partnership firm; ID proof (passport / voter id / driving license /Aadhar card /PAN of managing partner whose signature is on application); Address proof (sale deed for self-owned; or rental / lease agreement + electricity bill or telephone bill); Bank certificate (see below) or cancelled cheque with printed name of the applicant firm and bank a/c number.
3. LLP and Company (both public and Pvt. Ltd.) :
Photograph (3×3) of partner or director who is signing the IEC application form; PAN card copy of applicant LLP or company; ID proof (passport / voter id / driving license / Aadhar card / PAN of partner or director whose signature is on application); Certificate of incorporation; Address proof (sale deed for self-owned; or rental / lease agreement + electricity bill or telephone bill); Bank certificate (see below) or cancelled cheque with printed name of the applicant firm and bank a/c number.
Bank Certificate for IEC Application Form
One very important requirement for IEC application is a bank certificate. This certificate is required only if you cannot provide a cancelled cheque bearing the name of the applicant entity and bank a/c number. In case you do need it, you can ask your bank to give you this certificate. Download and print out this sample format of the bank certificate, and take it to your bank to get it signgned and stamped from them.
