How To Start Export Business In India a Complete Guide From Company Registration To Export
Starting a business in international trade will certainly help to bring new opportunities for both your business and the country. It's not that easy though to go through the long, time-consuming process of starting an exporting business in India. Here's a summary of the procedures you need to follow:
Steps for starting export business :-
1. Business Setup – A person has to register the business. Types of business setup are:-
- Sole Proprietorship
- Partnership Firm
- Private Limited Company
- Limited Liability Partnership
Each business has its own features and advantage so one can register according to his needs.
2. Permanent Account Number (PAN) – Obtain a PAN card which is issued by the Income Tax Department, after registration your business.
3. Open a Bank Account – After the registration of business and obtaining Permanent Account Number Card, now it is mandatory to open a Bank Account (Current Account) for your business with any of the commercial bank.
4. Import Export Code – Basically IEC (Import Export Code) registration number is needed for every type of business in India to do import export business. So you have to apply for the Import Export Code after the business registration. This code is a 10 digit code issued to Indian firms or companies by the Director General of Foreign Trade, Government of India or Ministry of Commerce. The submission of all the necessary documents to the government will provide you with help to quickly and clearly have the Import Export code.
The documents required are:-
Steps for registering IE Code online.
- Permanent Account Number Card or Company’s Permanent Account Number Card
- Photograph of the applicant
- Copy of Voter ID Card / Driving License / Passport (first and last page) / Aadhar Card (any of these)
- Certificate of Incorporation which is issued by Registrar of Companies (RoC).
- Sale deed if premise is owned by himself or on Rental / Lease basis.
- Copy of the cancelled check from the current account of the business (Name of the company and Account Number must be pre – printed ) – GIF Format. Or Bank Certificate as per ANF 2A(I) (PDF)
1. Login to http://22.214.171.124:8080/dgftiec/IEClogin.jsp
2. Enter the number of PAN Card in the column.
3. If you do not already have your pan card registered with an IE code, select the option Fresh E-IEC to appear on the screen. In this enter mobile number & email ID, then enter captcha then click on generate token button.
4. You have received the token number on mobile and email, now enter token number on the column and submit
5. Now, Ecom number is generated in reference to the IE code registration process, and also update the company details which is needed.
6. Update the IEC Master that is you have to enter details same which is reflected on PAN card.
7. If you have branch address mention it or if not then skip.
8. Enter DIN Number
9. Application fee –fee payable to DGFT is 500 Rs. Only.
10. Attach mandatory documents.
11. Submit application.
12. Then last step is to click on Application status to check for the approvals.
5. Registration-cum-Membership-Certificate (RCMC) – This is last but not the least. If you have obtained the Import Export Code, you must now obtain the Registration - cum - Membership - Certificate (RCMC) . It is granted by Councils on Export Promotion. The certificate can be received from any of 26 export promotion councils. After you obtain the Import Export Code and Registration-cum-Membership - Certificate, you can now start your import and export business.
If you want to apply for Company Registration
then get in touch with us today.