Everyone wants to see their company grow nationally and internationally. However, it can be difficult to establish a business outside of the country. Companies that deal with import and export must register their import export codes. It is a unique code of 10 digits that allows a person to import and export from overseas.
The Director General of foreign trade issues the code. It is part of the ministry of commerce and government of India. Registration for import and export codes is once per lifetime. The registration is valid for life and can be updated or renewed without any issues.
IEC code registration is required in India for anyone who wants to begin import-export trade. Without the import export code, no one can import or export any goods or services.
Online business services providers allow you to easily register for your import export code. Expertbells India’s most trusted online platform for business legal compliance and mandatory compliances. Expertbells can assist you with obtaining an IEC certification.
Benefits and Advantages of Import Export Code Registration
Let’s discuss the benefits you’ll get from the successful export code registration in India. These are just a few of the many benefits you will get after registering for IEC code India.
1) Global Market Reach
Your business will expand over the international market, which is the main benefit of export and import code registration. It will enable you to reach other countries, increase global reach, and boost your growth at a high rate. This is an opportunity to grow your business.
2) Convenient Registration Process
The process of obtaining an import or export license is now much simpler and more efficient. Your license registration can be done online. Online registration for import and export codes can be done in a much more efficient, cost-effective, and convenient way.
3) No Documentation Required
You don’t need to be hard-working to get the required documents for registration of your import or export license.
You will need the following: a passport-size photograph of the applicant, a PAN Card of the applicant, canceled cherub of the applicant’s account and proof of address for any business that requires an import or export code, license, or permit to trade from overseas.
4) Validity
The Import/Export registration can be used for as long as you have the license. You don’t have any reminders to renew or update your ICE license. The code or license can be used legally as long as the business exists and the registration has not been revoked.
5) No Compliance
Once you have completed your import and export registration, there are no compliance requirements such as return filings or annual filings that other companies may require. There is no requirement to comply with the ICE registrationin India.
6) No Annual Maintenance
We mentioned that there is no compliance requirement. You don’t need to pay any annual maintenance fees after obtaining the export and import codes. You don’t need to renew or file the registration, as it is valid throughout your entire life without any fees.
7) No Risk of Illegal Transportation Transactions
The import and export codes protect your business from being involved in illegal transportation risks. The central registration makes it easier for government officials and law enforcement to check and scan the transactions that were made by IEC-registered businesses.
About Expertbells
Expertbells India is the leading online platform to provide business services. Expertbells provides all the necessary business legal compliances and registrations. We offers GST Registration, Company Registration, ISO Certification, copyright registration, GST Monthly Filing in India, and many more at affordable prices.
