Best Importer Exporter Code (IEC) with Digital Signature Certificate (DSC)
IEC is allotted to an entity, it can be used for the lifetime or for an infinite period by all its branches, units, divisions and offices (as indicated in IEC application form at the time of registration) across India for the purpose of exports and imports of goods and services.
Importer-Exporter Code (IEC) is a unique 10-digit code issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India, to Indian companies, firms, exporters, and importers, who want to engage in the business of exports-imports. Without IEC, an Indian entity cannot export or import. The code needs to be furnished along with other documents at the time of dispatching or receiving an EXIM consignment and also while receiving and making payments from overseas buyers and sellers respectively.
Import Export code more commonly known as IEC is a ten digit code number. It is given to an Importer or Exporter by Director General of Foreign Trade, Ministry of Commerce and Industries, Government of India. Any Entrepreneur who wishes to import something to India or export something from India requires an import-export code. It has a permanent validity. There are certain benefits of this code. Though exporters need not necessarily apply for this code, however, they will miss out the otherwise provided benefits. Also, RBI is now making the mention of IEC code mandatory in bank account. This code generally comes in play when you decide to expand your business globally. Code can be obtained on your name(in case of proprietorship) or on your company’s name. To register import export code a proper procedure is followed. This registration is governed by The Foreign Trade Act, 1992. However, obtaining a code doesn’t permit you to start importing or exporting. A License and other documents are also required. IEC code is just a requirement which provides certain benefits also.
IEC Code For Proprietorship Firm: Basically Proprietorship Firm Registration is the best when you want testing your idea in the Import or Export Business and another Best thing that you are the sole owner of the Firm which controls on the business. As an Import Export Business, you have to require Import Export Code (IEC Code) so it can be done at less cost of formation.
IEC Code For Partnership Firm: Partnership is the like Sole Proprietorship But its require minimum two partners instead one. Its has a unlimited liability in the business but best for the testing your ideas in the Import Export Business with the Partners. Its require just draft only a Partnership Deed and open a current bank account on the firm name, after that you have to apply for the Import Export Code (IEC Code).