Registering an Import-Export Business: Licensing and Compliance

Registering an import-export business involves several legal, regulatory, and procedural steps to ensure smooth cross-border trade operations. Here's a complete guide on licensing and compliance requirements, particularly focused on India, but I can tailor it to any country upon request.

✅ Step-by-Step Guide to Register an Import-Export Business
1. Choose a Business Structure
Register your business as one of the following:

Sole Proprietorship

Partnership

Limited Liability Partnership (LLP)

Private Limited Company

One Person Company (OPC)

🔹 You need to obtain registration with MCA (for companies) or UDYAM (for MSMEs), depending on the structure.

2. Apply for PAN & Open a Current Account
Obtain a PAN card in the business’s name.

Open a current bank account using your business credentials.

3. Obtain Import Export Code (IEC)
Mandatory for all import-export businesses in India.

Issued by the Directorate General of Foreign Trade (DGFT)

Apply online via: https://www.dgft.gov.in/

Required Documents:

PAN card

Address proof

Cancelled cheque of current account

Business registration proof (e.g., GST, Certificate of Incorporation)

4. Register for GST (If Applicable)
GST is mandatory if turnover exceeds threshold limits (₹20/40 lakhs).

For export businesses, GST Registration helps in claiming GST refunds under zero-rated supply.

5. Customs Registration (ICEGATE)
To file shipping bills, bills of entry, and other customs documents electronically:

Register on the ICEGATE portal (Indian Customs Electronic Gateway): https://www.icegate.gov.in/

6. Additional Licensing Based on Product Type
Depending on the product, you may require:

APEDA Registration (for agricultural products)

FSSAI License (for food products)

RCMC (Registration-cum-Membership Certificate) from relevant Export Promotion Council (e.g., FIEO, EEPC, GJEPC)

Pharmaceutical License (for pharma exports/imports)

Textile Committee NOC (for textile exports)

📋 Compliance Requirements
✅ For Importers
Bill of Entry Filing

Customs Duty Payment

BIS/ISI/AGMARK Certifications for certain imports

Adherence to FTP (Foreign Trade Policy) provisions

✅ For Exporters
Shipping Bill Filing

Packing List & Commercial Invoice

Letter of Undertaking (LUT) under GST

Bank Realization Certificate (BRC) from authorized dealers

Export General Manifest (EGM) filing

🧾 Record Keeping and Audit Compliance
Maintain invoice copies, shipping documents, and tax returns

Keep track of foreign exchange receipts

Maintain records for 5–7 years for audit purposes

🌍 Optional: Register with Trade Bodies
FIEO, Chamber of Commerce, or Industry-Specific Councils

Useful for guidance, export incentives, and networking