Import Export Code (IEC) Registration: A Step-by-Step Guide to Global Business Growth
Introduction
Going global with your business offers exciting possibilities, but the initial step that is unavoidable is the procurement of an Import Export Code (IEC). Registration is unavoidable for any company that is involved in foreign trade. Whether you are an entrepreneur, exporter, or importer, this article will walk you through the IEC registration, its benefits, and the documents required.
What is Import Export Code (IEC)?
The Import Export Code (IEC) is a 10-digit unique code that is granted by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, Government of India. It is a statutory requirement for individuals and companies who import and export goods or services.
Why is Import Export Code Registration Important?
IEC registration is required for firms that engage in foreign trade because:
Legal Requirement – Exporting or importing is illegal without an IEC.
International Expansion – It enables firms to extend to overseas markets.
Government Benefits – IEC holders can avail various government schemes and incentives.
Permanent Registration – IEC does not require renewal, thus the simplicity of compliance.
Who needs Import Export Code Registration?
The following categories must receive an IEC:
Proprietorship, partnership, and private limited companies dealing in import/export.
E-commerce exporters who engage in international trade.
People or companies importing and exporting goods for trade.
Documents Needed for Import Export Code Registration
To be eligible for IEC, you must:
PAN Card – Of the company or person.
Identity Proof – Aadhaar Card, Voter Card, or Passport (for self).
Business Address Verification – Lease document, lease deed, or utility bill.
Bank Proof – Bank certificate or canceled cheque for proof.
Digital Signature Certificate (DSC) – Required for electronic signing (if necessary).
Step-by-Step IEC Registration Process
To submit an IEC, the following should be done:
Click Here to access DGFT Website – Go to DGFT official website and click on ‘Apply for IEC.’
Register/Login – Register or log in using your credentials.
Fill Application (ANF-2A) – Give business details, PAN, and bank information.
Upload Documents – Scan copies of required documents.
Pay the Fees – Finish paying the fee online.
Submit the Application – Fill out your application and note the reference number.
Download Your Import Export Code – Once you have been cleared, you can download your IEC from the DGFT portal.
Benefits of IEC Registration
Expands Business Internationally – Offers access to global markets.
Hassle-Free Compliance – There are no renewals or frequent filings.
Government Schemes Access – Eligibility for incentives like MEIS and SEIS.
Available for Individuals – No business establishment is required for personal import/export.
When is Import Export Code Not Required?
IEC is not necessary in the following cases:
When goods are imported/exported for private use (not for resale).
When the services are exported without foreign exchange.
If the importer/exporter is eligible for certain government exemptions (e.g., government bodies, charities, etc.).
Conclusion IEC registration is required for those companies that aim to expand internationally.
It provides legitimacy, provides access to government incentives, and facilitates international business.
With the above step-by-step guide, register your IEC and expand your business worldwide.
For hassle-free IEC registration, get in touch with Legal Dalal – your trusted business compliance ally!
