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Korean: 한국 고객을 위한
Staff Answer
Jan 28, 2020 - 10:41 PM
Hi,
Thanks for your question and our apologies for the delayed response. Let me answer this question for you.
Thanks!
Thanks for your question and our apologies for the delayed response. Let me answer this question for you.
- First and foremost, you must have a business setup. It is recommended you open a sole proprietorship in the initial stage by taking a Service Tax registration or a VAT registration with an attractive name and logo.
- Obtain a PAN card for the business. Once you have received the required registration, it is mandatory to have a PAN card issued by the Income Tax Department.
- Open a current account After receiving your business registration and PAN card, you need to open a current bank account with any commercial bank exclusively for your business.
- Get the Import Export Code (IEC) issued This is one of the most important requirements to get your import and export business started. IEC is required in all cases except in case of restricted or prohibited goods or services. Import Export Code (IEC) registration can be obtained by applying online at the DGFT website.
- Documents Required for Import Export Code (IEC): Personal PAN card or Company PAN card Applicant’s photograph Copy of a cancelled cheque from the business’ current account A PAN card is mandatory to get an IEC code and only one IEC is allotted per PAN card.
- Obtaining the Registration cum Membership Certificate (RCMC) After obtaining the IEC, you need to obtain an RCMC, granted by the concerned Export Promotion Councils to get authorization to import and export, or for any other benefit. There are around 26 export promotion councils from where you can get an RCMC issued. After getting the IEC and RCMC issued, you can set up your import and export business from India.
- Exploring online marketplaces: Register yourself with any online marketplace that allows an exporter to enlist as a vendor on their site and let him or her connect with customers across the globe like www.go4worldbusiness.com. This time, the internet is acting as a bridge for the exporters to export their product to customers sitting thousands of kilometers away.
- Exploring international markets: As each country has unique resources that can be exported, it needs to import certain resources. You need to explore what you can export to the needy country and in exchange for what you can Import.
Thanks!
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