IEC Registration - An Overview

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.

When will there be requirement of IE code?

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

Sole Proprietorship

• (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

Partnership

• 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

Limited Liability Partnership (LLP) and Private Company

• (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

Trust

• 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

Hindu Undivided Family (HUF)

• (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