Import Export code registration | IEC BTHAWK

Import Export Code Registration

 

IEC (Import Export Code) is a commercial code issued to the individuals operating business at the international level. It is provided to facilitate the host traders to commercialize with foreign individuals. It is 10 digits in size and is issued on the PAN number either of the individual or the Business.

IEC is issued by the Director-General of Foreign Trade. IEC for every host (domestic) trade start and or expand business on the international lands; as it is becoming very social among people to include several foreign cultures in their lifestyles, modern businesspersons who aspire of the foreign trade have to opt for this code on a mandatory basis.

Benefits of IEC (Import Export Code) Registration-

  • Domestic traders can expand their business at the international level; as a result, the line of products enlarges within the host country.
  • Individuals don’t have to file annual returns.
  • Traders enjoy a smooth working mechanism with fewer complications in the operations.
  • Subsidies and policies framed by the government could be availed with full benefits.

IEC (Import Export Code) Registration is required in the situation-

  • The bank needs IEC when the importer sends money abroad.
  •  It is required by the bank when an exporter receives money in foreign currency directly into his bank.
  • The customs port needs IEC when an exporter has to send his shipments.
  • The customs authorities need IEC when an importer has to clear his shipments.

Documents required for IEC (Import Export Code) Registration

The following documents are required for IEC code registration-

  • Pan cards copy of individual, company, or firm.
  • Aadhaar card, voter id, or passport copy of an individual.
  • Cancel cheque copies of current bank accounts of an individual, company, or firm.
  • Rent Agreement or Electricity Bill Copy 
  • Address (IEC certificate can be delivered by registered post.)

Contact “BTHAWK Team” for IEC (Import Export Code) Registration.

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