In an era of fierce competition everybody would like to expand their business beyond the domestic market. Internet and technology have made doing business globally easier now a days. But before you start doing business worldwide there are some procedures and laws to follow and various registration and licence. One of such prerequisite is IEC (Import Export Code) licence when you Import into or Export from India. It also called Importer-Exporter Code.

Anyone starting an import/export business in the country requires the IEC code. It is issued by DGFT. IEC icegate code is a lifetime code of 10 digits. Predominantly importer merchants can not Import goods without import export Code and exporter merchant can not avail benefits of DGFT for Export scheme etc. without import export code registration.

Benefits of IEC Registration

Following are the benefits of IEC registration online in India:

Business Expansion:

• IEC enables business diversification by opening up opportunities for both exports and imports in India.
• Entrepreneurs and companies can explore new markets and expand their operations easily, without compliance burdens.

Government Benefits:

• IEC registration automatically grants businesses access to government benefits.
• It ensures compliance with various provisions related to imports and exports.
• Additionally, businesses may qualify for specific schemes aimed at supporting their growth.

Simplified Returns:

• Unlike other systems, IEC eliminates the need to file returns, reducing administrative obligations.
• Once assigned the code, businesses are not required to prove legitimacy of certification through return filings.

One-Time Registration:

• IEC registration is a one-time requirement, reducing the need for repetitive compliance procedures.
• Although essential for engaging in import-export activities, the licence does not require renewal.

Efficient Import and Export code Registration Online Processing:

• The IEC registration system operates entirely online, enabling quick and efficient processing.
• Applicants receive an OTP number during the initial registration, contributing to easy processing.

Government Authorisation:

• Exports from India under the IEC system guarantee compliance with DGFT requirements.
• This certification enhances a business's reputation in international trade, instilling confidence among buyers.

More Credibility:

• Holding an IEC code signifies a business's credibility and legitimacy in the icegate iec industry.
• It enhances the trust and confidence of international partners, suppliers, and customers.

Documentation Efficiency:

• The IEC system streamlines the documentation process for import-export transactions.
• It reduces paperwork, simplifies customs clearance, and expedites the flow of goods.

Eligibility Criteria for IEC Code Application in India

In India, the DGFT has specific requirements for obtaining IE code registration. The following entities are mandated to apply for importer exporter registration:

These are the essentials for IEC code apply online:

Validity of DGFT IEC registration

An import export code no. is valid for lifetime, meaning it remains applicable for all import and export transactions conducted by the entity. However, there is a need for renewal or updating the IEC every year to aid in providing long-term validity and convenience.

To update the IEC registration, follow the steps given under:

• Go to DGFT Web site and log into your account.
• Go to' Registrations' tab.
• From the main menu select 'Import/Export', then' Registration Details' from the sub-menu.
• Find the 'Update IEC Registration form' link under the IEC section on the 'Registration Details' page and open the Form.
• Provide the information asked for in the form accurately.
• When the form is completed, click the 'Submit' button.
• Your IEC registration will be updated after submitting the form successfully.

Docs Required for IEC Code Registration

The process of obtaining IEC registration involves visiting the portal DGFT and completing the necessary e-form. During the electronic filing, applicants are required to provide and upload detailed documentation. Following are the docs required for IEC code registration:

Sole Proprietorship:

Limited Liability Partnerships and Private Limited Company:

Partnerships:

Trust:

Hindu Undivided Family (HUF):

Cost of Registration for IEC Icegate Code in India

The government imposes a registration fee of Rs. 500 for the Import Export code, which can be conveniently paid through Electronic Fund Transfer (EFT) while submitting the IEC Application form online. Following the successful submission, the applicant will receive the IEC allotment letter containing a unique 10-digit code. This letter is then delivered to the applicant's address via a self-addressed envelope.

Once you have obtained the IEC code, you are eligible to initiate your import and export operations confidently.

StartupFino, with its team of trained professionals, assists you through the registration process in a convenient and hassle-free manner.

Procedure for IEC Registration

The following are the steps to register an IEC in India:

• Go to the DGFT's official Web site and select the 'Services' tab from the top menu and next select 'IEC Profile Management'.
• On the next page select' Apply for IEC'.
• Select ' Register' and fill in the details.
• Ask for One time password and Enter the OTP that you received. Then select the' Register 'button.
• A notification with a temporary password will be sent to the user upon successful OTP validation. This password can be changed at the DGFT website.
• Log in with the registered username and password to the DGFT Web site.
• Log in to the Dashboard and click' Apply for IEC'. If a draft Application has already been saved, select either the 'Start Fresh application' or' Proceed with Existing application' button.
• Complete the application form in ANF 2A format and indicate required Information in the General information section.
• Choose the checkbox under the declaration area to accept the terms & conditions.
• Review the application Summary and sign the application with a digital signature certificate.
• Confirm information and pay for the application.
• After the payment is processed, the page will take you to the DGFT Web site and a receipt. A user can also download the receipt for their records.

Why Choose StartupFino for Import and Export Code Registration?

StartupFino is a company that specialises in offering complete services to apply import export licence and IEC code registration online. We can help you with everything, from providing advice in the initial phase to ensuring that you meet all the necessary requirements.