IEC Code Registration
Want to start import or export business? Get your Import Export Code (IEC) easily with our help. Simple steps, fast service, and full support. Don’t wait—apply for your IEC Code Registration today and take your business to the next level!
Apply For IEC Code
- Documentation
- Application FIling
- Issuance of IEC Certificate
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IEC Code Registration – Overview
In today’s globalized world, businesses have access to a wide market beyond their local boundaries. International trade has opened up endless opportunities for companies looking to import or export goods. But before a business can engage in cross-border trading, it must comply with certain regulations set by the government. One such crucial requirement is obtaining an IEC Code Registration.
What is an Import Export Code (IEC)?
The IEC Code (Import Export Code) is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry in India. This code is mandatory for businesses and individuals involved in the import and export of goods. Without an IEC, you cannot send or receive goods from other countries, making it a vital document for international trade.
The IEC Code Registration essentially acts as an identification number for traders and business owners. It is required by Customs authorities, Export Promotion Council, and other government bodies when you carry out foreign trade activities.
Who Needs an Import Export Code?
Anyone involved in international trade needs an IEC Code. This includes:
- Individual traders
- Small and medium businesses
- Manufacturers
- E-commerce sellers sending goods overseas
- Exporters of services (in some cases)
Whether you’re a person, partnership, company, or LLP, if you are dealing in cross-border trade, you need an Import Export Code.
IEC Code Fees
(Professional Fee Rs. 1499+ Govt fee Rs.500)
- Documentation
- Application FIling
- Issuance of IEC Certificate
Documents Required for Import Export Code
- PAN card and Adhaar card of Proprietor/Partners/Directors
- Passport-sized photographs of Proprietor/Partners/Directors
- Email id and mobile number of Proprietor/Partners/Directors
- Proof of business address (e.g., rent agreement, utility bills)
- Bank account details (bank statement or cancelled cheque)
- Partnership deed or Certificate of Incorporation (for companies/LLPs) – If any
- PAN card of the applicant or business entity – if any
- GST Registration Certificate – If have
Important Note: Name and Date of Birth would be same on PAN card and Adhaar card
Timeline for issuance of IEC Certificate
You can usually get your IEC (Import Export Code) certificate within 1 to 2 working days after you submit your online application with all correct documents and pay the fee.
However, delays can happen if:
- Documents are incorrect or incomplete
- There are issues with verification
- Government portal is slow or under maintenance
To avoid delays, double-check all details before submission.
Steps to Apply for Import Export Code
Step 1: Check Eligibility
Any business involved in import and export of Good or Service needs to apply for an Import Export Code. Both individuals and companies can apply, as long as they meet the necessary requirements set by DGFT.
Step 2: Prepare Required Documents
To apply for the IEC Registration, businesses need to submit documents such as a PAN card, bank account details, business address proof, and a passport-sized photograph of the applicant.
Step 3: Apply Online
The application for the Import Export Code can be made online through the Govt portal. After filling in the details, upload the required documents and submit the application.
Step 4: Receive IEC Certificate
Once the application is processed, the IEC will be issued. This process is quick and usually takes 1 working days, making it easy for businesses to start international trading.
What is Validity of Import Export License
The IEC is issued as a 10-digit code by the Directorate General of Foreign Trade (DGFT) and is valid for the lifetime of the business entity. Once obtained, it does not require renewal in the traditional sense.
Although the IEC itself does not need to be renewed, it must be updated annually between April and June each years. This update is mandatory to ensure that all information associated with the IEC is correct.
Failure to update the IEC within the stipulated timeframe can lead to deactivation. A deactivated IEC prevents businesses from conducting import or export activities until it is reactivated through the update process.
Importance of IEC Code for Your Business
IEC (Importer Exporter Code) Registration plays a critical role in facilitating international trade. Whether you’re a small business or a large enterprise, having an IEC Code opens up numerous opportunities for global expansion and ensures compliance with legal regulations. Here are some key reasons why IEC Code Registration is important:
Mandatory Legal Requirement
If you wish to import or export goods and services, obtaining an IEC Code is a mandatory requirement by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, India. Without it, you cannot legally carry out international trade, and your shipments may be halted at customs.
Streamline Customs Clearance
The IEC Code acts as a business’s unique identifier in the international trade system. When you import or export goods, customs authorities require your IEC Code to verify the legitimacy of the shipment. It ensures smooth processing at customs and avoids unnecessary delays or penalties.
Facilitates Financial Transactions
An IEC Code (Import Export Code) is required for conducting international financial transactions, including the transfer of payments for imports and exports. You will need it to open a bank account for international trade purposes, ensuring smoother and faster payment processing.
Builds Credibility in Global Markets
Having an IEC Code enhances your business’s credibility, signaling to foreign suppliers, customers, and partners that you are a legitimate and reliable player in the global market. This recognition can help you establish trust with international clients, which is essential for successful cross-border trade.
Enhances Business Opportunities
With an IEC Code (Import Export Code), your business has the potential to expand beyond local markets, reaching international customers and suppliers. It opens the door to new business opportunities, helping your company grow and become more competitive on the global stage.
No IEC Code Renewal Required
One of the significant advantages of the IEC Code is that it has a lifetime validity, so once you’re registered, you don’t need to worry about renewals. However, it’s important to update your details with the DGFT if there are any changes to your business address or bank details.
Apply for Import Export Code Today!
At SetupFiling, we make the IEC registration process simple and quick. Our team takes care of all the paperwork, ensuring that you get your IEC code without any delays. Plus, we provide round-the-clock customer support to assist you throughout the process.
Frequently Asked Questions (FAQs)
1. What is an IEC Code?
Answer: IEC (Import Export Code) is a 10-digit unique code issued by the Directorate General of Foreign Trade (DGFT), India. It is required for businesses or individuals engaged in import or export activities.
2. Who needs an Import Export Code?
Answer: Any individual or business entity involved in importing or exporting goods or services in India requires an IEC Code. This applies to both commercial and non-commercial import-export activities.
3. What is the validity of the Import Export Code?
Answer: Once issued, the IEC Code is valid for a lifetime and does not need to be renewed. However, any changes to the business details must be updated in the IEC records.
4. How can I apply for an Import Export Code?
Answer: You can apply for an IEC Code by visiting the DGFT website, registering your account, filling out the IEC application form, submitting necessary documents, and paying the application fee.
5. What documents are required for Import Export Code Registration?
Answer: The documents required include:
- PAN card of the applicant or business entity
- Proof of address (utility bill, rent agreement, etc.)
- Bank account details (a canceled cheque or bank statement)
- Photograph (if required)
- GST registration certificate (optional but recommended)
6. Is there any application fee for IEC registration?
Answer: Yes, there is a nominal application fee for IEC registration. The fee is paid online during the application process.
7. Can I apply for an IEC Code if I am a non-resident Indian (NRI)?
Answer: Yes, NRIs can apply for an IEC Code as long as they are involved in import or export activities, and they meet the required eligibility criteria.
8. How long does it take to get the Import Export Code after application?
Answer: Once the application is submitted and the documents are verified, the IEC Code is generally issued within 3-7 working days.
9. Do I need an IEC Code if I am exporting services instead of goods?
Answer: Yes, the IEC Code is required for the export of both goods and services. It is mandatory for businesses or individuals engaged in international service trade.
10. Can I use one IEC for multiple business entities?
Answer: No, the IEC Code is issued to a specific individual or business entity. Each business entity involved in import/export must have its own IEC Code.
11. Can I apply for IEC without a GST registration?
Answer: While GST registration is not mandatory for obtaining an IEC Code, it is recommended, especially for businesses dealing with exports, as it allows them to claim tax exemptions under the GST regime.
12. How do I update my IEC details (e.g., business name, address)?
Answer: To update your IEC details, log in to your DGFT account and request modifications. Submit the necessary supporting documents, and the changes will be processed.
13. Can I use my IEC Code for both imports and exports?
Answer: Yes, the IEC Code is valid for both import and export activities, meaning a single IEC Code is sufficient for all cross-border trade activities.
14. What happens if I don’t have an Import Export Code?
Answer: If you do not have an IEC Code, you will not be able to legally import or export goods or services. Customs authorities will block the clearance of your shipments, and trade will not be permitted.
15. Is it mandatory to mention Import Export Code on shipping documents?
Answer: Yes, when you engage in any import or export activity, the IEC Code must be mentioned on relevant shipping and customs documents, such as the Bill of Lading, Airway Bill, or Export Declaration.
16. Can a company apply for IEC if it is in the process of setting up?
Answer: Yes, a company can apply for IEC registration during the incorporation process as long as it has its PAN card, address proof, and bank account details in place.
17. Can I get an IEC Code if I have a small business?
Answer: Yes, businesses of all sizes—whether small, medium, or large—are eligible to apply for an IEC Code if they plan to import or export goods or services.
18. Can I transfer my Import Export Code to another person or business?
Answer: No, an IEC Code is non-transferable. It is issued to the specific applicant or business entity and cannot be transferred to others.
19. Is the Import Export Code registration necessary for e-commerce businesses?
Answer: Yes, if your e-commerce business engages in selling goods internationally, you need an IEC Code for importing or exporting goods across borders.
20. What should I do if my Import Export Code is not working or gets blocked?
Answer: If your IEC Code gets blocked or is not functioning correctly, you should contact the DGFT office and address any issues regarding non-compliance or other registration concerns.
21. Is there any penalty for not obtaining Import Export Code?
Answer: Yes, failing to obtain an IEC Code when required can result in penalties, fines, and difficulties in clearing goods through customs. It is advisable to apply for the IEC Code before engaging in international trade.
22. Can I use Import Export Code for multiple bank accounts?
Answer: Yes, an Import Export Code can be linked to multiple bank accounts if you need to do so. However, you must notify the DGFT if you want to change the primary bank account details associated with your IEC.
23. Can a partnership firm apply for Import Export Code?
Answer: Yes, a partnership firm can apply for an IEC Code by submitting the necessary documents, including the partnership deed, PAN card, and proof of business address.
24. Do I need to renew my Import Export Code after some time?
Answer: No, the IEC Code is valid for life. You do not need to renew but annual updation is mandatory.
