Import Export Licence (IEC) is first step to start your trading business globally. Movement of goods from one country to another country is not possible without obtaining Import Export Code (IEC). However movement of goods for personal use can be done without IEC. Import Export Code is a PAN based 10 Digit no. i.e. PAN which is allotted you will be your IEC no. Previously a unique no was allotted for IEC whereas now IEC code will be same as your PAN.
An online application is to be filed with Directorate General of Foreign Trade (DGFT). To start with, you need to enter your PAN card details like PAN, Name and Date of birth. After that it will ask for other details like address, bank account etc.
Only 2 documents are need to be uploaded which are Address proof (Rent Agreement or Electricity bill and NOC) and Copy of Cancel Cheque. Further in case of Company, Certificate of Incorporation will also be required.
Government has prescribed INR 500 as fee for Import Export Code. Which is required to be pay at the time of online registration.
It’s a 100% online application processing and IEC code can be obtained on real time basis. IEC can be obtained after submitting application along with uploading of required documents and payment of required fee.
Import Export Code is Valid for life long, once it approve it will remain valid for rest of life unless it cancelled.
No, Digital signature is not required for IEC application.