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Friday, 20 January 2017

How to start export business in India & Obtain IE Code Online

Steps to start Export Business in India & Obtain IE Code ( Import & Export Code ) Online

1. Choose your products.
2. Decide your company Name. Mostly ending with Exports ( for example Ramsay Exports )
3. Register your company
4. Apply for IEC — Import Export Code.
5. EDC Registration — Register your export company with Nearest Port ( Airport & Seaport )
Now we will go step by step,

Choose your Products:
Starting a export company is the easiest thing. But choosing a product & finding buyers is major work for exporters in India. So before getting into starting up, select your product clearly and gather as much as knowledge about the product.
Do a complete research of legal problems, government policies and restrictions for exporting your product.

Decide your company Name:
Name your company ending with EXPORTS or IMPEX or EXIM.
Why should I name my company ending with EXPORTS or IMPEX or EXIM.?

Say Ramsay is one of the t-shirt manufacturers in Tirupur. If you name an export company as Ramsay Enterprises, The importer or the buyer would not understand what my business nature is. so you will have to tell the buyer that you are an export company to make the buyer understand.
While you choose your company name as Ramsay Exports instead of Ramsay Enterprises, The buyer can directly understand the nature of your business that you are an exporter.

Register your Export Company:
Now, you have decided your company’s name. How to register an export company?.
I wish that you should start as a proprietor until you are a manufacturer having business partners. A proprietor will cut off all the extra steps to obtain the IE code and sooner you can start exporting.
There is a logic this reference of registering your company as proprietor.
1. You don’t loose out any control or early stake to other partners without knowing the contribution.
2. You will mistakes faster and learn much faster than being in a partnership.

Register your company as a proprietor:
Don’t spend on too much money on obtaining TIN or CST at the early stage even though it is required later when you buy from other states or manufacture products or transact with a taxable product for exporting.
Here are the few steps that you need to follow to register your export company & obtain IE Code.

Step1 : Register your company as small scale industry (UDYOG AADHAAR)
Please go to http://udyogaadhaar.gov.in/UA/UAMRegistration.aspx to start registering your company
Enter the details your Aadhar Number & Validate it. then proceed with remaining details. Finally after submission, You will get two copies which look like below image.

Udhyog Registration for IE Code

udhyog copy for IE Code Registration in India
Step 2:  Bank Process
Go to your favourite bank and open a current account by using the UDYOG AADHAAR registration certificate as shown above.
(Provide all other support documents like your pan card, address proof, Photo with initial deposit amount. it will vary from bank to bank from Rs 5000 to Rs 15000 )
Get your current account opened and now you become a proprietor and eligible to do not only exports but also other business in your internal market unless it is taxable.

Statuary Info :
You don’t require a TIN or CST Reg until your product is taxable by the state or central government. You should take it when it is mandatory. It is good to follow the government rules to keep your reputation high.

Apply for IEC Code
Before starting up with this procedure, I advise you to visit your nearest Director General of Foreign Trade Office. & Meet Public Relationship Officer; He should help you with starting up procedures. It is welcomed by all the DGFT Offices so that exports from India can be promoted.
Now here are documents that you require applying for IEC as a proprietor,
These are the basic documents required to obtain IEC Code.  Please go through the below-mentioned steps carefully.

“There are only few important documents that you need to register your export company & obtain IE Code.”

1. Digital Photograph 3X3 of the proprietor — GIF Format.
2. A cancelled Cheque Leaf – PDF Format.
3. Digital Signature – Class 2
Source : http://indiaexportcompany.com/blog/how-to-start-export-import-company-in-india-obtain-ie-code/

 Apply Online IEC Code

Write comments
  1. Thanks for sharing How to start export business in India & Obtain IE Code Online. This blog is very important me. I have need IEC Code & Today I am applying IEC Code From ieccodeonline.com.

  2. Nice information thanks for sharing. ISLF providing for import and export through air or ocean or land transportation for Logistics and shipping servics. Know more information visit below links.
    Shipping Services in India
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