What is Import Export Code

Import Export Code or IEC is a unique ten-digit number issued by the Director-General of Foreign Trade (DGFT) and the Ministry of Corporate Affairs. Any Indian business entity that wants to deal with the import and export business in the foreign marketplace should obtain an Import Export Code. 

It is seen as a modern and beneficial business appliance for its utilization and work procedure. An IEC has lifetime validity and it works as the gateway of foreign business and trading expansion. 

Eligibility Criterion

Be it a partnership, proprietorship, or corporate who wants to conduct international business, must have IEC. It does not depend on the size or annual revenue of the company.

When do We need IEC registration in India?

• If the nature of the business is related to Import & Export, then IEC is required.

• When your business is looking for advantages from DGFT, Customs, and the Export Promotion Council. 

• Any business that needs shipment clearance 

• If the industry is sending money outside the country, record transactions bank order to submit IEC license to validate the business authenticity.

• Any exporter that receives money from a foreign country as a part of the transaction must have IEC 

Now the question arises of how you can obtain IEC or the best procedure for applying for IEC.

Applying for IEC Online

The best way to apply for an IEC code is through Online Legal India™. It is an online platform with IEC experts to guide you for every step without your physical appearance. They are also awarded by AsiaOne for India's Largest Brand for Online Legal Service.