What is an Import Export License?
An import-export license is an authorization granted by the government to individuals or businesses allowing them to engage in the importation and/or exportation of goods and commodities across international borders. This license is a legal requirement in many countries and serves to regulate and control the movement of goods in and out of a country's territory. Import-export licenses may vary in terms of scope, duration, and the specific goods or products covered. They are typically issued by relevant government agencies responsible for trade and customs administration, and obtaining such a license is often necessary for businesses involved in international trade to comply with legal requirements and regulations.
Advantages of Import Export License
- Profit from government programs such as cheap customs duties, import and export subsidies, etc.
- Investigate the worldwide consumer base in international marketplaces.
- Lifelong registration validity without the need for renewal
- PAN-based registration application that is simple and entirely online
- Trade is permitted in abroad
Steps to apply for Import Export Code
- 1. Documentation
- 2. Visit the website of the Director General of Foreign Trade (DGFT)
- 3. Register yourself on the DGFT website
- 4. Conduct OTP-based Validation
- 5. Login and fill the application form
- 6. Issuance of IEC code and IEC certificate of registration
Required Documents for Import Export Code
- 1. PAN Card of the firm
- 2. Voter ID / Driving license / Aadhar card / passport as the ID proof of the managing partner
- 3. Sales deed / rent agreement / latest electricity bill / latest telephone bill as the address proof of the premises
- 4. Canceled cheque with the account number and name of the firm
- 5. Passport size coloured photograph of the applicant
- 6. Partnership deed / Registration Certificate of Society / Trust deed / Certificate of Incorporation, MoA & AoA / LLP Deed