Chapter 1: Who can export?
Expansion and growth are the fuel to any business. And taking your business across the globe could be a game-changer when it comes to expanding. Much as it might seem like a vast thing, we assure you that you’ve made the right choice. Anybody can export, because why not?
So, who can export goods/services?
To be exact, a Proprietorship Firm, Company, Limited Liability Partnership (LLP), or any other organization upon registration can engage itself in exporting or importing goods or services.
Registration Process at a Glance :
- For Sole Proprietorship Firm: No government registration is needed to start a sole proprietorship business in India. You don’t have to go to an online registration portal and fill up a form or submit any documents. All you need to do is open a current account with a bank in the name of the business, with proof as to the place of business.
- For Partnership Firm – For registration of a partnership firm, an application has to be made to the Registrar of Firms of the concerned state in Form 1, accompanied by the signed partnership deed and relevant documents. Upon verification of the documents furnished in Form 1, the Registrar will issue a Certificate of Incorporation, which means your partnership has now been registered.
- Registration for a partnership firm is not mandatory; however, to export or import goods or services, the firm must be registered.
- For Company of any class – Registration of a company is regulated by the Ministry of Corporate Affairs(MCA). A company must register itself under the MCA portal (www.mca.gov.in) which provides several facilities to companies and LLPs, i.e. from incorporation to closure. From there, all the necessary steps for registration can be undertaken, inclusive of acquiring a Digital Signature Certificate(DSC), Director Identification Number(DIN), etc.
Documents Required for the above :
- Passport size photograph of the proprietor/partners/directors,
- PAN card,
- Identity Proof (Aadhar Card or Passport or Driving license),
- Address Proof of the Business Premises (Electricity Bill from Owner, Rent Agreement, or NOC).