IMPORTER EXPORTER CODE (IE CODE)
Export from and Import into a country plays a major role in keeping a balance for the growth of an economy. It helps to develop a business by entering into a new market meeting the overseas demand and ensures that the domestic market is able to meet its demands.
No export or import shall be made without an Importer Exporter Code (IEC) Number unless specifically exempted. IEC is a unique 10 digit code issued by DGFT – Director General of Foreign Trade, Government of India to Indian Companies and Individuals to enable them to carry on International Trade activities. An Individual or a company who wants to do international business can get an IEC. Individuals can use either the name of their proprietorship firm or their name directly to apply for IEC.
Application should be made by Company/applicant to the DGFT office under whose jurisdiction the registered office of the applicant comes. An Import Export Code Number allotted to an applicant shall be valid for all its branches/divisions/units/factories as indicated on the IEC Certificate.
Only one IEC would be issued against a single PAN number. IEC forms the primary document for recognition by Government of India as an Exporter/Importer. On the basis of IEC, companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc. The following documents are required for apply of Import Export Code, Bangalore:
• Copy of PAN (both side of PAN) of the Company/firm/LLP/Proprietor.
• Copy of PAN (both side of PAN) of the Applicant (Director/Partner/proprietor).
• Certificate from Bank – (in the specified format).
• Copy of MOA & AOA / partnership deed / LLP agreement.
• Color passport size photos of the applicant.
• List of Directors/partners.
• If an applicant is a non-resident Indian (NRI) and there is non-resident interest in the firm/company and non-resident investment with repatriation benefits in the firm it is mandatory to submit the scanned copy of RBI approval letter.
If you are an exporter and want Sun Shine Corporate Solutions to file an online application for IEC Bangalore through the online route, you will need to have net banking facilities with some selected banks. They are:
• Bank of India
• Central Bank of India
• State Bank of India
• Punjab National Bank
• Axis Bank
• Union Bank of India
You have a mission to start an international trading activity; SunShine Corporate Solutions is out here to help you develop your Export and Import Business.