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Import Export Code

Import Export Code

IEC is a 10-digit code that allows businesses or individuals to import/export goods/services. DGFT issues this code, and it is valid for a lifetime. It takes around 5-15 working days to generate the code after document submission and corrections. The code can be issued in either the individual or the company’s name and is valid for all its divisions, units, factories, and branches. It goes by many names, such as importer/exporter code, import/export license, IE code, IE license, and more.

Documents required for IEC Code

Sole Proprietorship

  • Digital photograph (3*3)
  • Copy of pan card of the proprietor
  • Copy of passport/voter id/driving license/UID
  • If the business is self-owned, then sale-deed
  • If the business is rented, then the rental/lease agreement

Partnership Firm

  • Digital photograph (3*3) of the managing partner
  • Copy of partnership deed
  • Copy of passport/voter id UID/driving license/PAN of the managing partner signing the application
  • Sale-deed, in the case of self-owned business
  • If the business is rented, then the rental/lease agreement
  • Bank Certificate as per ANF 2A/ Cancelled cheque bearing the blueprinted name of the applicant entity and A/c no.

LLP

  • Digital photograph (3*3) of the designated partner/director of the company signing the application
  • Applicant’s copy of pan card
  • Copy of passport/voter id UID/driving license/PAN of the managing partner/director signing the application
  • Sale-deed, in the case of self-owned business
  • If the business is rented, then the rental/lease agreement
  • Bank Certificate as per ANF 2A/ Cancelled cheque bearing the blueprinted name of the applicant entity and A/c no.

Trust

  • Digital photograph (3*3) of the secretary/chief executive/signatory applicant
  • Registration certificate of society/copy of the trust deed
  • Copy of passport/voter id UID/driving license/PAN of the managing trustee/chief executive signing the application
  • Sale-deed, in the case of self-owned business
  • If the business is rented, then the rental/lease agreement
  • Bank Certificate as per ANF 2A/ Cancelled cheque bearing the blueprinted name of the applicant entity and A/c no.
  • Legal Recognition: The Shop and Establishment license grants legal recognition to the business.
  • Acts as Business Proof: The license serves as proof of business registration, required for further business registrations in India.
  • Facilitates Bank Accounts and Other Formalities: The registration of Shops and Establishments is necessary for opening a bank account in the name of the business.
  • Platform for Raising Investment: The license helps entrepreneurs raise investments through loans or venture capital for the proposed business.
  • Government Benefits: The business can avail government benefits at different stages by obtaining the license.
  • Time-Saving: The online process of registration saves time and creates less hassle during operation.

Features of Import Export Code

  • Business Blast Off/ Business Boomer
    Want to take your business to the stars? Getting an IEC will allow you to sell your products or services on the global market.
  • Export Extravaganza:
    With your IEC in hand, your business can benefit from subsidies and perks for imports and exports from DGFT, Customs, and export promotion councils. It’s like a golden ticket to business success!
  • Forever Valid:
    Once you’ve got your IE Code Registration done and dusted, you can rest easy knowing that it’s valid for the lifetime of your business. No need to stress about renewals or expirations.
  • No Return files, No Problem:
    Unlike some other processes, IE Code doesn’t require you to file any returns or jump through hoops to maintain its validity. Easy peasy!
  • Individual Influence:
    Don’t have a business entity yet? No worries! Even as a solo entrepreneur or sole proprietor, you can get your very own IEC in your name. It’s like a superhero ID for your business endeavors!

Benefits of IEC Code

  • Want to take your business global? You can do it with online marketplaces like Amazon and Alibaba, but don’t forget to get your IEC code!
  • The Indian government loves exports so much, they refund any taxes you paid while exporting. They might even waive some import duties if you promise to export within a time frame. It’s like getting a reward for being a good trader!
  • Once you get your IEC code, it’s yours for life! No need to renew it every year like your gym membership. Unless your company winds up, then it’s time to say goodbye.
  • With IEC, there’s no paperwork or filing returns required. It’s just like having a PAN card, but for your business. No need to stress about compliance.
  • Don’t feel like leaving your desk? No problem! You can get your IEC code online without even putting on pants. Just make sure you’re wearing a shirt for the video call.