In this article, we will explain everything about IEC online registration, its importance, eligibility, benefits, and the easy online process to get your IEC code for your import-export business. We’ll use simple words so anyone can understand.
What is an IEC Code?
IEC (Import Export Code) is a 10-digit identification number issued by the Director General of Foreign Trade (DGFT), Government of India. This code is necessary for businesses or individuals who want to start import and export activities from India.
Without an IEC, no importer can import goods into India and no exporter can export goods out of India. It is a unique business identification number, which remains valid for the lifetime of the business.
Why is an IEC Code Required?
The IEC code is required for several important reasons:
- To Import Goods: Without an IEC, you cannot legally import goods or products from other countries into India.
- To Export Goods: Without this code, no one is allowed to export goods or services from India.
- To Receive International Payments: For businesses providing export services, an IEC code is required to receive foreign currency in their bank account.
- To Clear Customs: The IEC code is needed at customs ports while importing or exporting goods.
- To Avail Government Benefits: Many export promotion schemes and benefits are available from the government only for businesses with a valid IEC code.
Who Can Apply for an IEC Code?
The good thing is that any individual, company, partnership firm, LLP, or organization engaged in the import or export of goods and services can apply for an IEC code.
The following are eligible:
- Individuals (as a proprietor)
- Sole proprietorship firms
- Partnership firms
- Limited Liability Partnership (LLP)
- Private Limited Companies
- Public Limited Companies
- Trusts, Societies, HUF, and other legal organizations
There is no minimum turnover limit to apply for an IEC code. Even if you want to start a small import-export business, you must have an IEC.
Benefits of Having an IEC Code
Getting an IEC code brings many advantages:
- Legal Requirement: It is compulsory for all importers and exporters in India.
- Easy International Trading: Helps businesses import and export without restrictions.
- No Renewal Needed: Once issued, the IEC remains valid for a lifetime.
- Open International Markets: You can expand your business globally with a valid IEC.
- Get Export Incentives: Many benefits, tax exemptions, and schemes are available for IEC holders.
- Simple Process: It’s a one-time, easy, and online application process.
- Acts as a Business Identity: The IEC serves as the official business identification for international trade.
Documents Required for IEC Code Application
To apply for an IEC code, you need to submit the following simple documents:
For Individuals or Proprietorship:
- PAN Card of the individual
- Aadhar Card or copyright or Voter ID
- copyright-size photograph
- Cancelled cheque or bank certificate
- Address proof of the business (electricity bill, rent agreement, or property papers)
For Partnership Firms:
- PAN Card of the firm
- Partnership deed
- PAN, Aadhar of the partners
- Address proof of the firm
- Cancelled cheque of the firm’s current account
For Companies:
- PAN Card of the company
- Certificate of incorporation
- PAN, Aadhar of directors
- Board resolution for IEC
- Address proof of the company
- Cancelled cheque of the company’s current account
Easy Way to Apply for IEC Code Online
The process to get an IEC code is simple and completely online through the DGFT (Directorate General of Foreign Trade) website. Follow these easy steps:
- Visit the IEC Portal – Open the official IEC registration website on your browser.
- Fill in the Application Form – Enter your business name, type, PAN number, and other required details carefully.
- Submit the Application – Review all the details to ensure accuracy before submitting the form.
- Pay the Registration Fee – Make the payment online using net banking, credit/debit card, or UPI.
- OTP Verification – Enter the OTP sent to your registered mobile number or email for authentication.
- Processing & Approval – The concerned authority will verify your details and process the application.
- Receive Your IEC Code – Once approved, the IEC code will be sent to your registered email within 1-2 business days.
Things to Remember While Applying
- The IEC code is valid for a lifetime and doesn’t need renewal.
- IEC is required only for commercial trading. Personal use import-export may not need IEC.
- Always keep your business PAN, bank account, and address updated.
- Apply with accurate information as wrong details may lead to rejection.
- Keep your mobile number and email active for updates and OTP verifications.
What Happens After Getting the IEC Code?
Once you receive your IEC code, you can:
- Import goods by showing the IEC code at customs
- Export goods to foreign buyers
- Receive international payments through your bank account
- Apply for government export benefits and schemes
- Participate in international trade fairs, exhibitions, and deals
Note: Update IEC code in easy steps with Our Portal
Conclusion
Getting an Import Export Code (IEC) is the first and most important step in starting your import-export business. The good news is that the process is now completely online, easy, and quick. You can apply from your home or office using your mobile or computer.
This article has explained the importance, eligibility, benefits, required documents, and a step-by-step online application process for IEC in simple words. If you follow these easy steps carefully, you can get your IEC code in just a few days.
Whether you are an individual, a small business, or a big company, having an IEC opens the door to global markets and new business opportunities.