This code is better known in India simply as an export license, and is easy to apply for and get from the zonal or regional office of DGFT which has jurisdiction over your location of business. You can now also submit an online IEC application at dgft.gov.in with the required documents and fee of Rs. 250.
How can I get export license in India?
Steps Involved in IEC (Import/Export Code) Registration
- Step 1: Application Form. First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
- Step 2: Documents. …
- Step 3: Filing Application. …
- Step 4: IEC Code.
How much does it cost to start an import export business in India?
These processes of setting up import export business in India involve around than Rs. 65,000 to Rs. 70, 000 as an initial investment.
How much does import export license cost?
Import Export License Fees / Cost to get IEC Code in India
As per the latest notification, IEC code Application fees is Rs 500/- which can be paid online through e-wallets/Net Banking/Credit or Debit Cards. Therefore the Government Fees or Official fees to get IEC Code in India is Rs. 500.
What requires an export license?
EAR99 items generally consist of low-level technology, consumer goods, etc. and do not require a license in most situations. However, if your proposed export of an EAR99 item is to an embargoed country, to an end user of concern, or in support of a prohibited end use, you may be required to obtain an export license.
How can I export from India to Dubai?
Documents required to export to Dubai
- including sea waybill (for goods transported by sea) or air waybill (for air cargo) )
- certificate of origin, and other types of documents issued by the competent authorities of the exporting country or certified by the embassy of Dubai.
Is export business profitable?
Import export business is a very lucrative business. While coming up with an idea costs nothing, executing and materializing is what will create a profitable business. Import and export of goods and services will always be a promising business and will help in opening up new avenues for you and your motherland.
How do I start an export business from home?
How To Start Import Export Business In India – The Complete Guide
- Get a PAN Card.
- Select type of Business Entity.
- Open a Current Account.
- Don’t forget the IEC Code!
- Choose your export product.
- Your Registration Cum Membership Certificate (RCMC) is important too!
- Selecting the Right Export Market.
Which bank is best for import export business in India?
Best Bank for Import Export Business in India
- Export-Import Bank of India (EXIM Bank)
- Financial Institution of Government.
- Financial Assistance to Indian Exporters.
- Lines of Credit (LOC)
- Research and Development (R&D)
- Provide Assistance.
Do I need license to import from China?
Do I Need a Permit to Import from China? There is no general import permit for importing products from China. However, you might need a permit to import from a federal agency certain goods from China. Different federal agencies oversee different imported products and requirements can vary.
How can I get IEC license?
The steps for IEC Registration Process are as follows:
- Step 1: Go to the DGFT Website. …
- Step 2: Go to the Services tab. …
- Step 3: Enter your PAN number. …
- Step 4: Enter the relevant details. …
- One Time Password (OTP) Verification Process. …
- Update Entity Details. …
- Add Branch Details. …
- Step 8: Fill-up the Director/Partner details.