Import Export Code (IEC) is a code having 10 digits provided by the Director General of Foreign Trade (DGFT), Ministry of Commerce and Industry, to the importer and exporter who is dealing in importing or exporting of any goods or items in India. This certificate is mandatory for all persons who are dealing in import and export, the person can be a natural person or can be any private limited company, public limited company, One person company, proprietorship or partnership or any other body corporate. To promote global competition and to provide a way to enter into the global or international market the government has introduced this registration; one more benefit of this code is that it avoids illegal transportation of goods from or in India. It is very easy to get the Import Export Code certificate because now there is no physical submission of documents required. A person can make an online application to get this code. It will take around 4-5 days to get this code as the filing process is online and simultaneously government provide this code on an online basis and due to this, it saves lots of time. Once it is registered it is valid for a lifetime there is no need to renew this code. 

Along with the IEC code, GST registration is also required for import-export business. There is no need to file any kind of report to the government regarding import or export therefore there is no maintenance cost. There are certain registrations are required to start a business like LLP registration or any other type of company registration, GST Registration, Brand name registration, IEC registration if the entity is involved in import or export business, Food license in case the if the business is related with the food and food item.