Arathi S Nath: Import-Export License
Planning to start an import-export business? here’s how you can begin with.
The import-export license becomes mandatory to conduct this type of business. The tremendous growth of the global business has resulted in an increase in people choosing to commence different types of import-export business. This requires the obtaining of the import-export license, which is the basic and prior step to begin this business.
Procedure to obtain an import-export license have become more comfortable in the online format. Registration is the prior step that anyone, willing to start the import-export business in India, should go through.
Anyone dreaming of commencing import-export business should acquire a unique code known as IEC(import-export code)number.
Also Read: HOW TO FILE ONLINE CYBER COMPLAINT
Import-export code is a unique code of 10 digit number which is issued by the Directorate General of Foreign Trade(DGFT) to any person or company. It is a part of the ministry of Commerce and Industry. The license is very important to carry out such business in India smoothly.
A few essentials to be made ready before starting the procedure
- Identity proof
- Address proof,
- Bank details.
- Digital signature
Step 1: To begin the whole procedure, one must register and create an account with DGFT and login for further procedures.
Step 2:-After logging in, the applicant would be directed to his dashboard page. Select “APPLY IEC CODE”.
Step 2: Click the “START FRESH APPLICATION”.
Step 3: The applicant has to fill the form shown there which asks for basic details, firm details, branch details and then click SAVE AND NEXT option.
Step 4: Enter the information regarding the director/karta/proprietor/manager. And then click the “NEXT” option.
Step 5: Enter the bank details asked in the form.
Step 6: Enter the other details form, if any.
Step 7: Next is the declaration form after which the applicant can obtain the application summary.
Step 8: Once you have accomplished all the given steps. Now you have to file the application with DGFT via Digital Signature Certificate (DSC) And pay the import-export license fees for obtaining the import-export registration.
Step 9: After the approval of the application. You will receive the import-export registration code in a form of soft copy from the government.