After liberalisation in 1991, the Indian Markets were open to foreign investment. Along with such opportunities, Indian businesses were also allowed to invest in other countries.
Apart from securing investment, businesses in India were allowed to carry out the process of import and export. The Government of India, Ministry of Commerce and Director General of Foreign Trade (DGFT) made it easier for businesses by introducing the Import Export Code Certification.
At following instances the IE Code would be required:
When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
When an importer sends money abroad through banks then it’s needed by the bank.
When an exporter has to send his shipments then it’s needed by the customs port.
When an exporter receives money in foreign currency directly into his bank account then submission of IEC is required by the bank.
Documents for Import Export Code Registration
(3*3) Digital Photos of the Applicant
PAN details of proprietor
Unique Identification, Voter ID, Passport and Driving License of the applicant
If the business is owned, then respective sale deed must be provided
Copy of Lease Agreement, if the premises is let out
Nine Digital Photos of the Applicant
Partnership Deed Copy
PAN Card
Unique Identification, Voter ID, Passport and Driving License of the applicant
If the business is owned, then respective sale deed must be provided
Copy of Lease Agreement, if the premises is lent out
Bank Certificate in the form of ANF 2A
(3*3) Digital Photos of the Applicant
PAN Card Copy
Unique Identification, Voter ID, Passport and Driving License of the applicant
If the business is owned, then respective sale deed must be provided
Copy of Lease Agreement, if the premises is lent out
Bank Certificate in the form of ANF 2A
Certificate of Registration of the Trust
Copy of the Trust Deed
(3*3) Digital Photos of the Applicant (Managing Trustee)
PAN Card Copy
Unique Identification, Voter ID, Passport and Driving License of the applicant
If the business is owned, then respective sale deed must be provided
Copy of Lease Agreement, if the premises is lent out
Bank Certificate in the form of ANF 2A
(3*3) Digital Photos of the Applicant i.e the Karta of the HUF
PAN Card of the Karta
Unique Identification, Voter ID, Passport and Driving License of the applicant (Karta)
If the business is owned, then respective sale deed must be provided
Copy of Lease Agreement, if the premises is lent out
Bank Certificate in the form of ANF 2A