{"id":20767,"date":"2020-12-01T11:37:57","date_gmt":"2020-12-01T06:07:57","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=20767"},"modified":"2020-12-01T14:10:28","modified_gmt":"2020-12-01T08:40:28","slug":"how-can-small-businesses-obtain-the-iec-code","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/","title":{"rendered":"How Can Small Businesses Obtain an IEC Code?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Importer Exporter Code (IEC) is obtained by an individual or a company who intends to jump into the business of global trading. The issuance right of the IEC code is under the&nbsp;Director-General of Foreign Trade (DGFT). IEC code is the doorway to international trade. If you are the owner of the small business entity and willing to sell your offering at a global platform then an IEC license is something you can\u2019t overlook. <\/p>\n\n\n\n<p>IEC code is a ten-digit code that provides legal status to your business to carry the business of international trading. In this blog, we will unfold a legitimate way to obtain an IEC code. But before diving into the core topic, let\u2019s look into some fruitful insights regarding IEC code.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#Why_you_Need_an_IEC_Code_for_your_Business\" >Why you Need an IEC Code for your Business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#Who_Can_Obtain_an_IEC_Code\" >Who Can Obtain an IEC Code?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#Procedural_Steps_Required_to_Obtain_an_IEC_Code\" >Procedural Steps Required to Obtain an IEC Code\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#Requisite_Documents_for_Small_business_to_Obtain_an_IEC_Code\" >Requisite Documents for Small business to Obtain an IEC Code<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#What_are_the_Dos_and_Donts_for_an_IEC_Registration\" >What are the Do\u2019s and Don\u2019ts for an IEC Registration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/how-can-small-businesses-obtain-the-iec-code\/#Conclusion\" >Conclusion&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_you_Need_an_IEC_Code_for_your_Business\"><\/span>Why you Need an IEC Code for your Business?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Unlike the domestic market, the global market is not easy to\naccess due to unprecedented legal constraints. Someone who is looking to sell a\nproduct abroad has to encounter a series of legal obligations from customs and\nother related authorities. This is where the IEC code comes into the picture.\nThis code legalizes the process of export and import and enables the traders to\novercome unnecessary obstacles to clear the shipment from the port. The IEC\ncode holder is deemed as a registered trader across the worldwide market.<\/p>\n\n\n\n<p>Moreover, IEC can also help in obtaining payment from the overseas client. All in all IEC code is basic registration for every trader who wants to sell their internationally. The same thing applies to the importer as well. IEC Code Benefits in the following attributes, which are as follows:-<\/p>\n\n\n\n<ul><li>Clearing the shipment from the customs and other\nauthorities.&nbsp;<\/li><li>Remitting money via authorized banks&nbsp;<\/li><li>Receiving inward remittance from overseas buyers.&nbsp;<\/li><li>Accessing subsidies from the customs and the other authorities.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_Can_Obtain_an_IEC_Code\"><\/span>Who Can Obtain an IEC Code?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any individual or company with valid identification and resident proof can obtain an IEC code. The IEC code is available in the <strong>DGFT\u2019s portal<\/strong><sup><a href=\"https:\/\/www.dgft.gov.in\/CP\/\"><strong>[1]<\/strong><\/a><\/sup> where applicants need to fill applications for the same by filing the required application.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedural_Steps_Required_to_Obtain_an_IEC_Code\"><\/span>Procedural Steps Required to Obtain an IEC Code\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The procedure below would let you avail of Import Export Code\nthrough an online mode.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Reach out to DGFT\nPortal<\/h3>\n\n\n\n<p>Those who are seeking an IEC code needs to visit the official\nportal of the Directorate General of Foreign Trade website.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Get Access to Online\nIEC Application<\/h3>\n\n\n\n<p>On the\nhome page, head over to the \u201cServices\u201d section followed by IEC to get access to\nthe Online IEC Application.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: Provide the PAN Card\nNumber<\/h3>\n\n\n\n<p>After selecting the \u201cOnline IEC Application\u201d the portal will\ngive you access to the page where you need to enter the PAN number to proceed\nfurther. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4: Complete the Verification Requirement&nbsp;<\/strong><\/h3>\n\n\n\n<p>To complete the verification process, enter the registered Email\nid and phone number.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 5: Fill the e-IEC form&nbsp;<\/strong><\/h3>\n\n\n\n<p>After being verified successfully, the portal will open the web-based form to obtain an IEC code. All you need to enter the requested detail in blank fields and upload the soft copy of mandatory documents. The fees are also required to go along with the application. Once submitting the document, the portal will generate the IEC code.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Requisite_Documents_for_Small_business_to_Obtain_an_IEC_Code\"><\/span>Requisite Documents for Small business to Obtain an IEC Code<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Requisite-Documents-for-Small-business-to-Obtain-the-IEC-Code.png\" alt=\"Documents for Small business to Obtain the IEC \" class=\"wp-image-20777\" width=\"448\" height=\"448\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Requisite-Documents-for-Small-business-to-Obtain-the-IEC-Code.png 1000w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Requisite-Documents-for-Small-business-to-Obtain-the-IEC-Code-150x150.png 150w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Requisite-Documents-for-Small-business-to-Obtain-the-IEC-Code-300x300.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Requisite-Documents-for-Small-business-to-Obtain-the-IEC-Code-768x768.png 768w\" sizes=\"(max-width: 448px) 100vw, 448px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Documents for Businesses under the Partnership Category<\/h3>\n\n\n\n<ul><li>Copy of Partnership deed\/<\/li><li>Passport\/Voter Id\/UID\/Driving License\/PAN of the managing partner&nbsp; <\/li><li>Passport\/Voter Id\/Driving License\/UID <\/li><li>Sale Deed, if the business is self-own <\/li><li>Bank certificate\/canceled cheque<\/li><\/ul>\n\n\n\n<p>That means <strong><em>small businesses also have the privilege to obtain an IEC Code<\/em><\/strong> just like bigger companies. Now let\u2019s dive into Do\u2019s and Don\u2019ts of IEC registration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Dos_and_Donts_for_an_IEC_Registration\"><\/span>What are the Do\u2019s and Don\u2019ts for an IEC Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>Keep the customer reference numbers and ECOM handy.\u00a0<\/li><li>The application can fill up the IEC application in an offline mode.\u00a0<\/li><li>The PAN number, contact number, and email id is non-alterable after completing the <a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>IEC registration<\/strong><\/a> at the IEC portal.<\/li><li>Since not all businesses require IEC code, do not forget to determine the exemption for the same.<\/li><li>Do not apply for more than one IEC against one PAN number.\u00a0<\/li><li>Do make a mistake of obtaining a dual IEC code against one PAN number as it is not permitted under the law.<\/li><li>In case of application rejection, one can get started with the registration process again.\u00a0<\/li><li>Applicants are free to alter or reload the files of supporting documents before completing the application process.\u00a0<\/li><li>Providing wrong information in an e-IEC form is a punishable offense.<\/li><li>The modification of the IEC profile could be done at the DGFT portal on the payment of Rs 200\/-.<\/li><li>Make sure to ascertain the adaptability quality of your product in the given market before you obtain an IEC code.\u00a0<\/li><li>Get details info about the target market in which you wish to export the product.\u00a0<\/li><li>Ascertain regulations, provisions, and limitations about cross-border trading from the legal perspective to avoid future conflict.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>So it is obvious that IEC code is one of the most prerequisites that one has to obtain for commencing cross-border trading of goods. Once obtained, the IEC would serve your business lifetime, which indicates that you don\u2019t have to renew it again and again as long as your business is active. Free feel to drop any query related to IEC code in the comment section. We will strive to put in our best effort to respond to them promptly.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/online-iec-modification\/\">\nA Detail Guide to Complete IEC Modification Online\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Importer Exporter Code (IEC) is obtained by an individual or a company who intends to jump into the business of global trading. The issuance right of the IEC code is under the&nbsp;Director-General of Foreign Trade (DGFT). IEC code is the doorway to international trade. If you are the owner of the small business entity and [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":20788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1266],"acf":{"service_id":"16"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3433,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/20767"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=20767"}],"version-history":[{"count":21,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/20767\/revisions"}],"predecessor-version":[{"id":20851,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/20767\/revisions\/20851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/20788"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=20767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=20767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=20767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}