The importer-exporter code (IEC) is an essential business identification number that is required for exports or imports. IEC Number is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce.
No export or import shall be made by any person without obtaining an IEC unless specifically exempted. But in the case of services exports, IEC will not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. Where services or technology are imported or exported, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies.
An import-export code is basically a unique 10-digit code that is necessarily required for every Import/Export business owner in India. Importers require an IEC to clear customs and shipment along with transferring money to foreign banks. Exporters require an IEC for the purpose of sending the shipment and receiving money from foreign banks. No importer/exporter can operate in India without getting the IEC, in brief.
Eligibility for IEC Code Registration
Any type of business incorporation, sole proprietorship, partnership, private limited firms, or charitable institutions involved in imports and exports of goods and merchandise, irrespective of the size, may obtain import-export code registration. But an IEC is not required to import/export goods for personal consumption, which are not connected with trade, manufacture, or agriculture. No business registration is required.
Documents required for IEC code
1. Photocopy of PAN Card of an Individual or Firm or Company
2. Individual voter ID or Aadhar card or passport copy
3. Individuals’ companies or firms cancel cheque copies of current bank accounts.
4. Copy of the Rent Agreement or Electricity Bill Copy of the Premise.
Why Choose YKG Global for IEC Registration?
1. Expert Guidance – Our expert will assist you in navigating DGFT requirements and foreign trade policy benefits.
2. Seamless Process – Smooth registration for all business types, from sole proprietorships to companies.
3. Comprehensive Support – Aiding with customs clearance, international payments, and export incentive benefits.
4. Quick Documentation – Effective handling of all required documents, ensuring a hassle-free process.
