ESOP Financing: How It Helps Businesses and Employees in India
ESOP Financing: How It Helps Businesses and Employees in India Introduction to ESOP Financing What
Import Export (IE) Code is a 10-digit code that is required for persons importing or exporting goods and services from or to India. So, an importer cannot import without the IE Code & an exporter cannot avail of the benefits of various exporter-friendly schemes of DGFT, export promotion council & customs, without the IE Code. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Code is valid for all divisions/units/branches etc.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less. It is advisable to take the IE Code irrespective of no requirement at the moment. In the following cases, the requirement of IE Code arises:
• For clearing shipments.
• When the importer sends money abroad through the ban.
• When the exporter sends the shipment.
• When the exporter receives money in his bank account.
In the following cases, IE Code is not required:
• Traders registered under GST.
• Goods exported or imported for personal purposes.
• Government of India Departments & Ministries.
• Notified charitable institutions.
Lifetime Validity | IE Code is issued for the lifetime of the entity and requires no renewal. So once an IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles. |
Benefits under Various Schemes | The Holder of IE Code can take benefit of various schemes like SEIS, MEIS, etc. & benefits from DGFT, customs & export promotion council. |
Not Necessary Business Entity | DGFT does not specify any requirement that only a business entity can take IE Code. Rather Proprietors can also take IE Code in their name. |
No Compliances | IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain the validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT. |
Easier Processing | It is easier to obtain IE code from DGFT within 10-15 days after the submission of application. It is not required to show proof of any import or export to get IE code. |
Expand Business | IEC helps you to take your product or services to the international market and expand your businesses. |
Facilitates Import And Export | Whether you’re an importer or exporter, it is necessary to have an IE code for all the transactions. Banks also require IE code to process money against the transaction. |
Legal Protection | Once the IEC number gets generated the owner has the legal protection from getting penalized and other consequences |
National Validity | The IEC, once issued, is valid throughout the county, in all your branches or factories. It needs to be quoted while your goods go through customs and while sending money abroad or receiving money from abroad. |
Step 1: IEC Code Registration: Legal Suvidha Providers can help your business obtain the Import Export Code (IE Code) in 15 to 20 working days, subject to Government processing time.
Step 2: Application Preparation: A Legal Suvidha Providers Expert will prepare your IE Code Application in the prescribed format along with the necessary supporting documents and obtain your signature in the application.
Step 3: Application Processing: Once the application is prepared, Legal Suvidha Providers will submit the IE Code Application in the required Aayaat Niryaat Form 2A (ANF 2A) format to the Regional Authority of the Directorate General of Foreign Trade (DGFT) in the region where the registered office of the company is situated or the IEC Application can be submitted online at the DGFT Official Website.
Step 4: IE Code Allotment: Once the application and the attached supporting documents are verified, the Directorate General of Foreign Trade will allow an IE Code for your business.
1. Passport size photograph
2. Copy of PAN Card
3. Identity Proof (Election ID / Adhaar Card / Passport / Driving License)
4. Sale Deed (in case of the business premise is self-owned)
5. Certificate of Incorporation (in case of Company)
6. Rental/Lease Agreement (In case of rented/leased)
7. Bank Certificate (in case the canceled cheque is not available)
8. Copy of Partnership deed (In case of Partnership)
9. Board Resolution/self-declaration (In case of Company)
10. List of partners or directors in case of partnership firm/Limited Liability Partnership firm or Company respectively along with their residential address, ID proof, passport size photograph, and PAN card.
Fill out the application form & other details.
Make the payment through online mode.
We will process your application.
A mail will be send on completion.
We provide free of cost consultation and legal advice to our clients.
All our services are online no need you to travel from your place to get our services.
We are a team of more than 15+ professionals with 11 years of experience.
There are no hidden & extra charges* other than the quote/invoice we provide.
We aim that all our customers are fully satisfied with our services.
We value your time and we promise all our services are delivered on time.
In this Journey of the past 10+ years, we had gained the trust of many startups, businesses, and professionals in India and stand with a 4.9/5 rating in google reviews.
Dr Mohamed Yasir (Life Coach / Career Guide)10/09/2024Great experience with smooth process during the startup india registration Excellent coordination and teamwork with effective implementation in very limited timePravin Singhania26/06/2024Sound expertise, good coordination, efficient and timely execution.Sasikanth Vaddadi25/06/2024Good service and very helpfulVijay Agrawal18/06/2024We had a great experience working with the LegalSuvidha team - we have used them for both our Pvt Ltd and LLP formation and their team has been very proactive, knowledgeable, prompt and helpful. They helped with all DSCs as well and couriered them to us. Very professional and thorough. We also got our Startup India , MSME registrations through them promptly. Overall highly recommended. Special callout to Nidhi, Saloni, Anjalin, Shreya and Priyanka for promptly helping us throughout the process.Poornima Singh05/06/2024I am writing to thank you for the quality of service provided by your company. We sincerely appreciate your efficient, gracious customer service, the level of detail and accountability you have demonstrated and the way you conduct business as a whole. A special Thanks to Ms Saloni for her great help throughout.Abhishek Chaturvedi01/05/2024Excellent service and experienceGoogle rating score: 4.9 of 5, based on 427 reviews
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Want to Setup your business in India? Connect with the best Online Registration, Licenses and Return filing solution providers for business across India. Since 2007, LegalSuvidha has been a one-stop shop for all startups or entrepreneurs looking for a chartered accountant, company secretary or lawyer. We have been ensuring Startups and SMEs are fully compliant with India’s legal system. Over the past 15 years, the depth of our offerings has increased and that too at affordable prices and customer satisfaction has made our standing different and we are giving a tough competition to other online facilitators of legal services in India. We have the best team for Company incorporation, Trademark Registration, Auditing, Advisory and Tax Filing for large, medium, small businesses and Startups in India.
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There is a lot of importance of legal documentation when you start your business, whether with your Investors, partners/co-directors, employees and any vendors you deal with. By getting a lawyer to draft contracts or agreements with new vendors, employees, and investors, you’re ensuring that you have all the downsides covered. At LegalSuvidha, we connect you to lawyers who will deliver complex documents, from shareholders’ agreements and founders’ agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days.
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