Overview of 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 government 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.
The FIEO works as an indicative for all the Indian businessmen who are involved in export-import market. With the help of FIEO registration, FIEO regulates all export related organizations in India. Thus, it acts as a partner for the Government of India in promoting India’s exports. FIEO registration helps the businessmen to expose multiple benefits such as global exposure, thorough guidance on key areas of global trade such as Foreign Trade Policy (FTP) and various concessions to MSMEs.
Types of Membership for RCMC Registration under 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 government.
There are two kinds of membership for the registration of RCMC under FIEO:
- Ordinary Membership
The name here itself signifies that the membership is the basic membership and this form of membership will be for organizations that have recently entered into the export and import business.
- Associate Membership
The associate membership is for the organizations that have previously been in the export and import business over a long period of time. The charges imposed for the associate membership is more on the basis of the fee in additional to the nominal rate of GST.
What are the Services of FIEO?
The activities of Export Promotion of the Federation of Indian Export Organizations (FIEO) are as given below:
- FIEO proposes an e-bulletin weekly to keep the trader’s updated with the worldwide developments that are affecting country’s foreign trade-related information and international trade as well.
- Free Service Online is accessible on the Indian Trade Portal, which is a knowledge platform for MFN Tariffs, Preferential Tariffs, SPS/TBT, and Rules of Origin of 65 countries, Import statistics of 87 countries and India’s contribution in the imports.
- The council has two more chat services on the FIEO website to clarify the queries on Corporate Legal Affairs, Arbitration, International Agreement, Technology Transfer, Patents, Trade Marks, Brand Management, Copyright, and related topics and to clarify the queries on quality standards.
- Press clippings on issues related to international trade are available on FIEO’s website.
- FIEO had started FOREX Services which includes Spot rates, Forward rates, Forward Calculator, FOREX Matrix, Pivot Points, LIBOR Rate, Historical Data, Currency Source, and Chart
What are the Benefits of FIEO Registration?
- Global Exposure
FIEO registration gives the exporters a proper guidance related to international exposure.
- Guidance Via Online Chat
FIEO registration holder exporter has the access to necessary guidance through online chat on issues like FTP &aamp; corporate laws etc.
- Free Online Business
Portal like e-bay provides convenience to run free online stores to FIEO Members for 6 months & Amazon provide the same offer for 3 months.
- Subsidy On Air Travel
FIEO registration helps the exporters to avail the benefit of 10% discount on all domestic & international air-tickets.
- Easy And Affordable Credit Rating
One of the prominent credit rating agencies CRISIL allows 10% discount on credibility analysis services for FIEO exporters.
- Compliance with the Government
An organization or company that has taken this registration then it will be mandatory for them to comply with the rules and laws of the Government.
- Updates from FIEO
Besides getting various forms of concessions from FIEO, updates concerning the foreign trade policy in India would also be granted. Any individual, who wants to avail different benefits from FIEO but does not go for RCMC certificate, has the option to still register as individual exporter.
What are the Eligibility Criteria for RCMC registration?
The applicant should adhere the following criterion while applying to the FIEO for getting the RCMC certificate:
- Merchandiser (Merchant) or Exporter
The applicant has to make sure that the business executed is the exports and imports business. This is one of the most important necessities for setting up an export business in India. Besides this the exporter has to guarantee that they have made an application for the Import Export Code (IEC) with the concerned authority. The authority for the IEC is the DGFT (Director General of Foreign Trade).
- Declaration of the focal Line of Business
The merchant or exporter has to state their main line of business. For example, if the major line of business is tea and coffee then the relevant consent of the Coffee and Tea promotion board must be received. If the products are not included in any export promotion board or any other authority then the assent must be given by the FIEO for exporting the same.
- Consent from Board of the FIEO
The applicant has to make sure that the relevant consent is received from the FIEO or the particular board. If there is no particular board for the respective product, then the applicant would have to apply to the FIEO for receiving the consent. The FIEO must give its sanction for the same.
Documents Required to obtain RCMC/FIEO Registration
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.
A copy of Memorandum and Article of Association in case companies and where partnership firms are applicant then partnership deed needs to be submitted.
According to the Foreign Trade Policy, an exporter is required to get a Registration-cum-Membership Certificate (RCMC) for profiting different advantages under the Policy. For enrollment purposes, FIEO has been perceived by the Government as an Export Promotion Council.
Validity of RCMC/FIEO Registration
The RCMC shall be deemed to be valid from 1ST April from the licensing year and shall be valid for five years.
RCMC Registration under Export Promotional Council
India has total number of 26 Export Promotion Councils and 9 commodities board. EPC and Commodities Board are responsible to issue RCMC. Central government has given them the authority to issue RCMC to the exporters. Every EPC and the commodities board in India classify itself on the basis of type of products.
Implication Related to Change in Constitution of Business of RCMC Holder
- If there is an adjustment in possession, constitution, name or address of an exporter, it is compulsory for the RCMC holder to imply the change to the enrolling authority with a month from the date of such change. Enlisting authority acknowledges defers that are made on merits.
- Exporter outfits quarterly return/subtleties of the fares of various products to the concerned enrolling authority. In any case, the status holders likewise send quarterly come back to FIEO in the configuration that is indicated by FIEO.
Registration Procedure for FIEO Registration
How to apply for Ordinary Membership for the RCMC registration?
There are two kinds of membership under the RCMC registration system. If the applicant is applying for the ordinary membership then compliance with the following steps have to be considered:
- Go to the website of the FIEO
The first step for the merchant and exporter is to proceed online to the website https://www.fieo.org/index.php. The applicant will have the option to either click on the tab of membership. Then click on “how to apply for RCMC registration”. Besides this the application can be downloaded from the FIEO website from the download tab.
Click on Application for Membership Online
There is a sub tabs under the membership main tab. The applicant has to click on that application and he will be redirected to a further webpage where he will be required to fill up the credentials. This will consist of the username, its password and the number of import-export code (IEC Number).
- Fill in the information provided
On the given membership tab, there will be one more tab which is called ordinary membership. The exporter will have to provide information under the ordinary membership. This information shall include name, the address, the status of the export house (whether the exporter is a One Star Export House or Two Star Export House or Three Star Export House or Four Star Export House or Five Star Export Houses or Service Provider or any Registered Member or Chamber of Commerce or EPC or Commodity Board or Association of Institutes.
- Provide the Mandatory Details
Name of the particular firm and the kind of the exports processed by the firm would be mentioned compulsory.
- Provide the Entity type
In the subsequent step, the applicant has to state the type of entity in the given box. This would specify if the entity is accompany or a partnership.
- Provide information on the Key Management Executives
Subsequently, the applicant has to give information on the key management executives of the organization. This would cover details and information on the shareholders and directors of the company.
- Provide Letter of Authority
For the final step, the applicant has to give the letter of authority. This letter will specify about the authority that will represent the applicant in the application of FIEO. It is mandatory for the applicant to provide such information.
How to file an application for an Associate Membership under FIEO?
The instructions to be followed for filing an application for an associate membership:
- Download the application form
The first step is where the applicant has to download the application of associate membership.
- Indicate the type of business
The applicant has to specify in the next step regarding the class of business that he has considered. Here the applicant has to state the business type and the mode of operation that will be carried out for the business.
- Fill in the details related to the business
The applicant has to give detailed information concerning the business. This shall include the details of the organization, IEC number, and such other information concerning the business.
- Provide Documents
The applicant will have to provide documents which will be uploaded together with the form.
- Provide the Letter of Authority
For the last step, the applicant will have to give the letter of authority. The letter of authority will designate about who will represent the applicant for RCMC registration in the FIEO.
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.
Frequently Asked Questions
The benefit availed by the Exporter who is a registered member of FIEO is;
- Flat 10% discount on domestic and international flights booking
- Exporter even receives a Visa Recommendation letter, for the complimentary basis for travelling to different countries on the business invitation.