Import Export business has started gaining its importance from the last few years, and today, the numbers of International traders are increasing in India. In order to start your own Import Export business, you need to get the Import Export License, which is only possible after successful registration of the Import Export Code (IEC). With this blog, we will clear your concept regarding IEC and IEL, the two important documents for initiating your EXIM business.
How to register for IEC Code?
In order to start your EXIM business in India, you need to apply for the Import Export Code. For the same, you can either take help from a professional EXIM expert or academy OR can visit https://online-iec.org for registering the same. The registration form asks the EXIM owner to enter the correction information about the organization, PAN number of the business (you need to register it if you haven’t), date of incorporation, Entity address, etc. The form also asks you to attach the address copy of your EXIM entity along with the bank certificate or cancel cheque. You can make the payment for the IEC registration online. Once the process is executed, you will receive the IEC certificate or Import Export license via mail.
Why do you need an Import Export License?
Without the Import Export Code or License, you cannot begin your trade. It is one of the most vital requirements for any EXIM business owner in India. In short, it is the key to start your own EXIM business and begin your journey towards the most profitable segment in India. Irrespective of the product, you are willing to import or export outside of/from India, you cannot begin the trade without an Import Export License.
What are the major benefits of registering IEC?
The first benefit is literally gaining your license for beginning your EXIM trade. With it, it helps your business with International networking and expansion. It helps your brand in getting global exposure. Also with the successful registration for the Import Export Code, your business gets easy customs clearance and other legal benefits for the effortless trade. Once the IEC code is registered with the government of India, the EXIM business owner doesn’t need any filing of returns or renewal. In fact, the entire processing is quick, and you receive the Import Export License within 15 days from the date of application.
Impexperts is the world of Import Export, helps keen entrepreneurs to start their EXIM business in India with proper guidance and documentation. They also help with first International Trade to boost your confidence and on field experience. Contact us on +91 9211066888 for more information.
- How To Export Coconut From India To Other Countries? - 27-01-2023
- Coconut Import: Which country imports Coconut from India? - 25-01-2023
- How do I Export Readymade Garments? - 20-01-2023