What is the Process of IEC Registration?



IEC Registration is required by any individual who wants to start his/her import-export business in
India. In these times of cut-throat competition where every person wants to take their business next
level by taking it to the international market, but in this process, a business needs various
registrations and licenses. IEC Registration license is an essential prerequisite when an individual is
thinking about the import or export business in India.

Overview of IEC Registration


IEC registration certificate is issued by the Directorate General of Foreign Trade (DGFT). DGFT is an
agency of the Ministry of Commerce and Industries; DGFT is conscientious for governing laws about
the foreign investment and foreign trade in India. If a company wants to expand its business through
indulging in the activities of import and export must obtain IEC registration issued by DGFT.
Import Export Code is a ten-digit code issued by DGFT, the primary purpose of IEC registration is to
ensure that the foreign trade activities are monitored and regulated by the concerned authorities.
The Reserve Bank of India has made it obligatory to provide Import Export Code (IEC) for all the
traders at the time of payment transfer. IEC registration is also essential for traders to gain certain
benefits provided by the Government of India.
Benefits of IEC Registration

Necessary Documents Required for IEC Registration
 The owner of the Import Export Business has to submit his/her PAN Card or the company’s
PAN Card.
 Latest Bank Account Statement of the company or of the owner of the company.
 The owner of the company has to submit a canceled cheque.
 Driving License of the owner has to be submitted.
 The owner has to submit a certified copy of the Aadhar card or Voter ID card.
 The owner has to submit the Certificate of Incorporation of the Company, and in case if the
company is a partnership firm, then the Partnership Deed must be submitted.
 The owner of the company has to submit an address proof of the registered office. Address
proof document can be any utility bill such as electricity bill, telephone bill, etc. and in case if
the office is on rented premise than the rental agreement and No Objection Certificate
(NOC) from the landlord.
Procedure for IEC Registration

To start an Import Export business in India, it is necessary to obtain IEC registration. It is valid for the
lifetime of the business. Import Export Code can be obtained by visiting the official website of the
Directorate General of Foreign Trade (DGFT).
Step by Step Guide for IEC Registration:

Step 1


The first step is to visit www.dgft.gov.in the official website of the Directorate General of Foreign
Trade. On the left-hand side of the screen, quick links will be available; now, the applicant has to
click on the option 'Apply for new Import Export Code/Modify existing Import Export Code.'

Strep 2


After clicking on the quick link, now on the next page, the applicant has to provide details of his/her
PAN Card and then click on the 'Search' option.

Step 3


After the applicant clicked on search, the applicant will be directed to a new page where the
following detail has to be submitted:
 The applicant's name, as mentioned on the PAN Card.
 Date of birth of the applicant or the date of Incorporation of the company if the PAN card is
of the company.

 Captcha Code.
After mentioning the details, the applicant has to click on 'Submit.' The applicant has to submit the
required information correctly, or else it can lead to authentication failure.

Step 4


In this step, the status of PAN verification is done; if the details provided by the applicant are
accurate and valid, a message will appear on the screen mentioning that the PAN has been verified.
Now the applicant has to click on 'Proceed.'

Step 5


In this step, the applicant has to login for a fresh IEC application. The applicant has to provide a
mobile number and E-mail address. On the right-hand side of the screen applicant has to submit
Captcha code and after that click on ‘Generate OTP.’

Step 6


The applicant will receive an OTP on the provided mobile number and E-mail address.t
Then Enter OTP and then click on ‘Submit’ Button.

Step 7


After submitting the OTP successfully, a 20 digit number will appear on the screen. The applicant has
to provide the following details on the right-hand side of the screen:
 Name of the Entity
 Address of the Entity
 PIN code, District, State from where the entity is operated.
 The E-mail address and mobile number as submitted earlier.
 Name on PAN card.
 Date of Incorporation Nature of the business.
 Activities of the business
 Bank Account number
 Account-holders name
 Details of the Applicant
After mentioning the above-asked details, the applicant has to click on 'Update and Save.'

Step 8


In this step, the applicant has to provide branch details of the company. The applicant must provide
the following details:

 Branch SI. Number.
 Branch address.
 6 Digit PIN code.
Then  click on the Add button.

Step 9


In this step, the applicant has to provide details regarding the Directors, Partners, etc. Details are as
follows:

After mentioning the details, click on ‘Add.’

Step 10


In this step, the applicant has to upload documents in PDF or GIF format. Documents such as
canceled cheque, bank certificate, Address proof, partnership deed, MoU are uploaded. The size of
the document must be 5MB.

Step 11


After the documents are uploaded, the applicant has to submit the fees and has to verify the fee
payment.

Step 12


Before the final submission, the applicant must review the application for any mistakes. After the
application review, click on the print application.

Step 13


In the final step of the process, the applicant has to submit the application by clicking on 'Submit.'
The applicant can submit the application by using DSC.
For checking application status applicant has to provide PAN number.
Conclusion

In this new era of E-commerce, the local businesses see it as an opportunity of growth by taking the
businesses to the global market; for this purpose, IEC registration plays an essential role. Import
Export Code, once obtained by the organization, will be valid through its existence, and it is not
required any renewal.


What is the Process of IEC Registration? What is the Process of IEC Registration? Reviewed by shockeyshop on August 20, 2020 Rating: 5

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