Do you need to be a company to get a license to export from India?
No, Import export license can be allotted to any form of business. It is not mandatory to be a private limited company to apply for import export business.
Further, IEC code is a 10 digit number allotted by the government office i.e. DGFT. IEC code can be applied by any form of business including partnership firm, proprietorship, one person Company, Private Company, LLP etc.
In other words, IEC code can be allotted to the following form of business
- Sole Proprietorship
- Partnership
- Limited liability partnership
- Private Limited Company
- Public Limited Company
- Hindu undivided family
- Trust/Society/Section 8 Companies
- Any other form like AOP, BOI
Documents Required and Cost
The IEC process has been simplified to the great extent. Now, the government has reduced the documents requirement from set of 8 documents to only 4. Now, only four mandatory documents are required to get an IEC in India. Further, government cost is only INR 500. the lower government cost also adds to one of its features.
Hence, you don’t need a private limited company to start the import export businesses.
Register here for Import export Code online from anywhere in India
Like and share this article :
Is your Query, still unanswered?
TAGS: Iec, Import Export Code, Import Export, Export Procedure, Faq
