IE CODE (Import Export Code) REGISTRATION

What is IE Code (Import Export Code)

Import Export Code (IEC) is a 10-digit code required for businesses that engage in international trade. It is issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry. IEC is mandatory for any import/export activity and is a crucial document for clearing customs and availing benefits from the government. Fastlegal provides hassle-free IEC registration services, ensuring compliance with all regulations, and streamlining your international trade operations. Let us help you expand your business globally with our expert guidance and support.

Importance Of the IE Code (Import Export Code) Registration

To open a current account, the following documents are required;

• Enables International Trade: IEC is mandatory for businesses to engage in import/export activities, enabling easy access to international markets.
• Government Benefits: IEC enables businesses to avail various government benefits, such as subsidies, duty exemption, and more.
• Faster Customs Clearance: IEC ensures smooth customs clearance, reducing operational costs and minimizing delays in shipment clearance.
• Facilitates Bank Transactions: IEC is required for businesses to make international transactions, facilitating ease of doing business.
• Establishes Credibility: Having an IEC adds to a business’s credibility, establishing trust among customers and stakeholders.
• Increased Revenue: With IEC, businesses can expand their customer base and increase revenue, as it enables access to global markets and facilitates international transactions.

Checklist for IE Code Application

• PAN Card: The business must have a valid Permanent Account Number (PAN) issued by the Income Tax Department.
• Bank Account: The business must have a current account with a bank authorized by the Reserve Bank of India (RBI).
• Authorized Signatory: The business must have an authorized signatory who can sign the IEC application on behalf of the company.
• Business Registration: The business must be registered with the appropriate authority, such as the Registrar of Companies (ROC) or the Registrar of Firms.

Documents required for IE Code Registration

• PAN Card: A copy of the PAN card is mandatory for IEC registration, as it serves as proof of identity and address.
• Business Registration: The business must provide a copy of the registration certificate issued by the Registrar of Companies (ROC) or the Registrar of Firms.
• Bank Account: A copy of the bank statement of the current account held by the business with an authorized bank must be provided.
• Address Proof: A copy of the address proof of the business, such as the electricity bill or lease agreement, must be provided.
• Authorized Signatory: A copy of the authorized signatory’s ID proof, such as the Aadhar card or passport, must be provided.
• Digital Signature Certificate (DSC): The IEC application must be signed using a valid DSC.