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Obtaining an IEC is the first and foremost requirement before starting import-export business in India. IEC is mandatory, in case of import or export of goods in India; whereas in case of services or technology, IEC is required in only limited circumstances when import/export is in specified services or of specified technologies for which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc. IEC is not required in case import export is of goods of personal use or is by any government ministries or departments, or charitable organizations.
Bengaluru has always been a city of titles owning its name in every fields and streams. The name itself excites the community as the city is full of positives that dominate or blur the few negative aspects. Bengaluru is the first city to get its own logo in India, followed by the world famous cities like London, New York, Melbourne, Paris and more. As it is well known that the city is of various industries that make the city as a leading contributing factor to the country’s economy. Owing to its wide range of industrial opportunities, the city is witnessing a tremendous growth in the field of import and export. Thus, Import Export Code Registration Bengaluru is required for anyone who is starting up an import or export business in Bengaluru. To obtain the same, initiate the IEC online application Bengaluru through Company Vakil where the registrations are affordable and hassle free.
Apart from the above mentioned documents, some other mandatory requirements for IE Code Registration Bengalauru are-
Export and import also helps businesses to get access to international markets. For this, the Import Export Registration Bengaluru is the main requirement to enter into international market as it would supports the growth and development of the business. Following are the advantages of IE Code Registration Bengaluru for a business.
Import Export Code Registration Bengaluru is a completely online process.
Import export Code is unique 10 digit code issued by the Director General of Foreign Trade to Indian Companies.
IEC is issued by Director General of Foreign Trade and its regional offices that are established all over India.
IEC registration in India is a primary document for recognition of importer or exporter in India. It also enables the company to obtain various benefits from DGFT.
Yes, an IEC application online Bengaluru can be modified any number of times till it is submitted for processing.
No, as IEC is a primary document required by an importer or exporter in India.
It normally takes 2 days for processing of the application. But for cancellation of the IEC application online Bengaluru, it takes 15 working days.
NRI has to obtain a prior permission from RBI or FIPB and follow the same procedure.
Yes, duplicate IEC be issued by paying a fee of Rs. 200 in the form of demand draft along with FIR filed in the police station having jurisdiction and an affidavit.
Only one IEC can be issued from one PAN number.
Digital Signature is mandatory as it is used to validate online document submission.