What is FIEO Registration
FIEO is the acronym of Federation of Indian Export Organization. Ministry of trade and commerce and private trade and Industry jointly instituted FIEO in 1965. The main functioning of the Organization is to promote international trade and is responsible for representing and assisting entrepreneurs and exporters in a foreign market. Thus, FIEO is working actively to extend and enhance India's market and exports.
The Organization represents the interest of govt. Recognized exporting firms viz. Export House/Star Export House/Trading House. FIEO is not only involved in promoting the export of merchandise but also involved in promoting the export of services.
After registering with FIEO, an exporter has double advantages of getting benefits under the foreign trade policy.
Membership of FIEO
The membership rules of FIEO are governed by the Government of India’s Foreign Trade Policy and Memorandum and Articles of Association of FIEO. According to the foreign trade policy, an exporter needs to get the Registration- cum –Membership Certificate (RCMC) for availing the benefits provided to the Exporter under this policy. For Registration, FIEO has been recognized as Export Promotion council by govt.
Documents Required for FIEO Registration
- PAN card
- List Of Partner and Directors
- Memorandum of Association and Article of Association
- Current Bank account
- Four passport size photograph
- Type of Exporter
- Company Formation Certificate
How to apply for RCMC?
The Exporter, who wishes to obtain the RCMC, has to make an application declaring his main line of Business to Export Promotion Council.
- If the business line is not covered by Council, RCMC in respect thereof to be obtained from FIEO.
- In the case where Exporter is dealing in various product categories which are not registered with EPC and mainline business is yet to be settled, the Exporter has to obtain the RCMC from the federation of Indian Exporter Organization (FIEO).
Application to obtain RCMC
Exporter obtaining RCMC can provide an application in the specified format as given in appendices register and can become a member of EPC.
For the purpose of becoming the member, the following documents are required to submit.
- Application for Registration –cum- Membership, providing the business line information.
- A self-attested copy of the Importer and Exporter Code (IEC) number.
- Bank Statement of the applicant.
- SSI/IEM certificate, where the applicant is in the business of manufacturing.
- Declaration in relation to the export and import effected during precedent FY.
- A copy of Memorandum and Article of Association in case companies and where partnership firms are applicant than partnership deed needs to be submitted.
Validity of RCMC
The RCMC shall be deemed to be valid from 1ST April from the licensing year and shall be valid for five years.
Benefits of FIEO Registration
- FIEO registration enables Exporter to get the useful information to expand his/her business globally.
- E- Portal provides facilities to Exporter to run a free online store for six months.
- Exporter registered with FIEO get instant 10% discounts on domestic and international flights.
- FIEO allows its member to engage in Export promotion programs like seminar, workshops and certification courses.
The Export Promotion Council may de-register the Exporter for a specific span of time for violating the conditions of Registration after proving reasonable opportunity to defend them.