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Why IEC (Import Export Code) is Essential for KYC at ShipGlobal.in

kyc iec

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Table of Content

  1. What is an IEC (Import Export Code)?
    1. Why Do You Need an IEC for KYC with ShipGlobal.in?
    2. Importance for Exporters
    3. How to Use Your IEC for KYC?
    4. Tips for a Smooth KYC Process
  3. How to Get an IEC if You Don’t Have One?
    1. Steps to Apply for an IEC
    2. Documents Required

What is an IEC (Import Export Code)?

The Import Export Code (IEC) is a key business identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, Government of India. It is mandatory for any business or individual looking to engage in import or export activities in India.

Why Do You Need an IEC for KYC with ShipGlobal.in?

  • Legal Compliance: Required by law for engaging in import and export activities.
  • Business Verification: Confirms your business’s authorization to trade internationally.
  • Credibility: Establishes your business as a legitimate entity in the global market.

Importance for Exporters

  • Mandatory for Exports: Essential for legally exporting goods and services from India.
  • Facilitates Transactions: Enables smooth international trade by meeting regulatory requirements.
  • Global Market Access: Provides a gateway to global markets, enhancing business opportunities.

How to Use Your IEC for KYC?

  • Log into ShipGlobal.in: Access your account and go to the KYC section.
  • Upload IEC: Upload a clear photo or scan of your IEC certificate.
  • Verification: Our team will verify your details.

Tips for a Smooth KYC Process

  • Clear Image: Ensure the photo or scan of your IEC certificate is clear and readable.
  • Match Details: Ensure the business name on your IEC certificate matches the information on your ShipGlobal.in account.

How to Get an IEC if You Don’t Have One?

An IEC is essential for engaging in international trade, especially when exporting products with ShipGlobal.in. If you don’t have an IEC, here’s a simple guide to obtaining one.

Steps to Apply for an IEC

  • Visit the DGFT Website: Go to the official Directorate General of Foreign Trade (DGFT) website (dgft.gov.in).
  • Register: Create an account using your PAN card details.
  • Fill in the Application Form: Complete the online application form (ANF 2A) with required details.
  • Upload Documents: Attach necessary documents such as a copy of your PAN card, proof of address, and bank certificate or canceled cheque.
  • Pay the Fee: Pay the application fee online through the available payment methods.

Documents Required

  • PAN Card: Copy of the PAN card of the business owner or the business entity.
  • Proof of Address: Utility bills (electricity, water), rent agreement, or bank statement.
  • Bank Certificate or Cancelled Cheque: Proof of bank account in the name of the business entity.

Start your export journey smoothly with ShipGlobal.in by completing your KYC with your IEC today!