Table of Contents
Which license is required for import export business?
IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing or exporting from India. It is also known as Importer- Exporter Code. IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country.
What Licence is required for international trade?
You need to apply for an Importer Exporter Code (IEC) if you want to import or export anything to and from India to other countries. Technically speaking, IEC is a 10-digit number granted by the Directorate General of Foreign Trade (DGFT) to any Indian entity seeking to do international trade.
Who needs an import license?
An import export license is officially required when: The total imported/exported cargo is R150 000 or more in one calendar year; or. There are more than 3 imports/exports in one calendar year. You are importing for resale or business purposes and not for your own personal use.
Do I need an import export Licence?
An import licence is not needed to import most industrial goods into the UK. However, some industrial goods need import licences as a result of controls imposed at national or UN level. These are issued by DIT ‘s Import Licensing Branch ( ILB ).
How export license is obtained?
Procedure while applying to the DGFT The online application process can be made on the DGFT website. On the homepage, the applicant will have to go to the ‘Services’ section, where under the ‘Online ECOM Application’ section, they will have to select ‘Restricted Item Import License/Restricted Export Item’.
What is export licensing?
An export license is a document issued by the appropriate licensing agency after which an exporter is allowed to transport his product in a foreign market. Export license depends on the nature of goods to be transported as well as the destination port.