In India, an Import Export Certificate (IEC) is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT) that is mandatory for businesses engaged in import and export activities. It is also known as an Importer Exporter Code (IEC) or simply an Export-Import (EXIM) Code. The IEC is a registration number that identifies businesses engaged in cross-border trade. It is required for obtaining various licenses and permits, opening a bank account, and availing of export incentives and benefits.
The process for obtaining an IEC in India involves submitting an online application through the DGFT portal or submitting a physical application to the nearest regional office of the DGFT. The application must be accompanied by necessary documents, such as proof of address, proof of identity, and bank account details.
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Overview of IEC (Import and Export Certificate):
The Importer Exporter Code (IEC) is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is a mandatory requirement for businesses or individuals involved in importing or exporting goods and services.
Why IEC is Needed: IEC serves as a key document for businesses engaging in international trade. It is required for:
Eligibility for IEC: Any individual or business entity that wants to engage in importing or exporting goods and services can apply for IEC. There are no restrictions on the type or size of the business.
Benefits of IEC: Having an IEC offers several advantages:
Process of Obtaining IEC:
Documents Required for IEC:
Time Frame for IEC Issuance: The entire process of obtaining IEC, from application submission to issuance, typically takes around 2 to 7 working days, depending on the completeness of documents and the processing time by DGFT.
Why Hire Lawtech for IEC Process:
By choosing Lawtech for your IEC application, you benefit from a streamlined and hassle-free process, allowing your business to smoothly engage in international trade activities.
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