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July 9, 2019

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HOW TO START AN IMPORT EXPORT BUSINESS – BELDARA.COM

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HOW TO START AN IMPORT EXPORT BUSINESS? RECENT POSTS

The government of India is making many efforts to ensure that India becomes a key element of global trade by 2020. One of
the things that can help in ramping up India’s stronghold in the world of global trade is the rise of importers and exporters in HOW TO START AN IMPORT EXPORT
the country. So, the government has launched many initiatives to make global trading easier for Indians. If you have always BUSINESS – BELDARA.COM
wanted to have an import export business of your own, then you are on the correct page. Here you can know how to start an
HOW TO START AN ONLINE BUSINESS
import-export business.
TO EXTEND WORLDWIDE
Starting such a business has many advantages. First, you have to pay only little upfront costs, second, you need to learn only
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a few basic rules and third, you can experiment with the products you want to import or export until you nd the one with
IN THE WORLD
maximum potential.
HOW TO GROW BUSINESS – DOES
APPLYING FOR THE IMPORT EXPORT LICENSE B2B PORTAL HELP TO GROW YOUR
BUSINESS?
Once you decide what kind of goods you want to export or import, you might have this question in mind- how to get an
import-export license. You should know that you don’t need a license but an IEC to export from India or import to India. IEC MARKETING STRATEGIES FOR SMALL
is a 10-digit number which is granted by the Directorate General of Foreign Trade (DGFT). Any Indian entity that wants to BUSINESS -NEW BUSINESS BUT NO
try its hands at international trade can apply for the IEC. Here’s how to do it properly. CUSTOMER

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 ONLINE OR OFFLINE? ARCHIVES

If you are unfamiliar with the online world, you can get IEC from a regional or zonal of ce of DGFT that has jurisdiction over
the location of your business. The employees there will explain everything and help you to get an IEC quickly. JULY 2019

Online Method JUNE 2019

In case you want to seek IEC via online method, you just need to le an application at dgft.gov.in, attach the required APRIL 2019
documents, and also pay a small fee of INR 250. OCTOBER 2018
Decide a Category SEPTEMBER 2018
Before applying for IEC, make sure that you have decided your products and their category. You will need to apply according JULY 2018
to the category your products belong to. You can always seek additional categories, but you will have to pay a different fee
for every category. JUNE 2018

Register the Firm

If your rm is not registered, you will need to get it registered. It’s your choice whether you want to register it as a company, CAT EG O R I E S
an LLP, a partnership, or a sole proprietorship. It is a good idea to include the word exports or imports in your rm name to
make it catchier. For instance, Alan Exports. BUSINESS BLOG (8)

Do EDC Registration

It is also vital for you to register the company with the nearest seaport or airport.

DOCUMENTS NEEDED FOR IEC

FOLLOW US ON
The documents you need for IEC registration vary on the basis of the type of company you have, such as an LLP,
proprietorship, company, or a partnership. Read on to know the documents you will need.
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If you have a proprietorship, you will need: 17,170 likes

1. An ID proof
2. A photograph (3X3)
3. A copy of the PAN card
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4. Address proof or sale deed and electricity or telephone bill
5. A cancelled cheque or a bank certi cate
6. If you own a partnership rm, you will need:
7. A photograph (3X3) of the managing partner
8. A copy of the PAN card of the rm
9. An ID proof
10. Address proof or sale deed and electricity or telephone bill
11. A cancelled cheque or a bank certi cate

If you have an LLP or a Company (Pvt. or Public), you will need to furnish the following:

1. A photograph (3X3) of the person signing the IEC application form CO N TACT U S
2. A copy of the PAN card of the LLP or company
3. An ID proof of the person signing the IEC application form Head of ce
4. Address proof or sale deed and electricity or telephone bill
5. A cancelled cheque or a bank certi cate India Address – 207 to 211, Second
Floor, Vihar Estate, Saki Naka, Andheri
Note- The bank certi cate mentioned above is only needed in case the person cannot provide a canceled cheque with the name of the
applicant and the bank account number for some reason. The bank will sign and stamp a simple bank certi cate on request. (East) Mumbai – 400072, INDIA

International Sales – UK                       

THE PROCESS OF SUBMITTING AN IEC APPLICATION
                          27, Old Gloucester
Once you have completed all the steps mentioned above and you have digital copies of all the documents you need, you
Street,London, WC1N 3AX, United
should ll up the application form by visiting the DGFT portal. To get the form, you need to provide a valid PAN number.
Kingdom
The IEC master document would need you to ll a lot of details like PAN details, bank account, location, etc. You will also
need to pay a fee of INR 250 via designated banks like HDFC, ICICI, and SBI. International Sales – USA

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 Then, you will be asked to share the digital copies of all the documents needed. 16192, Coastal Highway,
Once you do that, you will need to print the IEC application form and submit the same to the DGFT of ce, which covers the Lewes, Delaware 19958, USA
location of your business. After printing the form, you should click on submit that will take you to a nal screen that will FIND US
share your company name, the Ecom Ref, No. and the details of the DGFT of ce where the application has been submitted
for processing.

As most IEC applications are completed in two working days, you should be able to get your 10-digit code in three days or within a
week.

IMPORT-EXPORT DOCUMENTS CHECKLIST – ASK ON BELDARA

If you have the ICE and you are gearing up to do import export business, you should know that the documentation rules
need to be followed. Yes, there are some speci c documents needed for import or export that need to be complete and
appropriately submitted to ensure the import-export process is smooth. Thankfully, the Indian government is focusing on
the ease of doing business in the last few years. As a result, the number of documents needed for import or export has
declined considerably.

Documents Needed for Exporting Goods

If you are doing an import export business and you are exporting any goods, you should take care of the following
documents.

1. Commercial invoice-cum-packing list

2. Air-Way Bill or Bill of Lading
3. Bill of Export or Shipping Bill

Documents Needed for Importing Goods

In case you want to import goods into India, you will need to take care of the following documents

1. Bill of Entry
2. Commercial invoice-cum-packing list
3. Air-Way Bill or Bill of Lading

No matter whether you are importing or exporting stuff to and from India, make sure that you have the IEC code with you as
all transactions are incomplete without it.

OTHER DOCUMENTS NEEDED FOR GLOBAL TRADE

If you are doing an import export business, make sure that you know that there may be some additional document
requirements based on the category of goods that you are trading. For instance, if you are dealing with pharma products, the
regulatory authority may ask you to furnish additional documents. Be smart and comply with every requirement of the
regulatory authorities as they have the power to ban you from importing or exporting goods if they consider you to be guilty
of doing anything unlawful.

How Beldara.com Can Help SME’s to Start Import Export Business?

If you are registered with Beldara.com or are planning to do so because you have an eye on export import business, then you
should know we will be happy to guide you in the right direction. We help you take your business beyond international
boundaries online and of ine so that you can expand your reach and boost the revenues. Call us to know more!

Filed Under: Business Blog

Tags: exporters, importers, International Suppliers, manufacturers, Wholesaler

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