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Lalsar Trade & Logistics · Question
Short answer
A new exporter generally needs a properly registered business with its tax registrations, an importer-exporter code, a current account with a bank that handles foreign exchange, and the relevant product or sector registrations. Add the shipping, insurance and document arrangements that your goods require. Confirm the current list with the relevant authority and your bank.
The sequence matters because later steps rely on earlier ones.
Start with the constitution of the business, its tax registrations and a bank account in the business name. Banks and authorities check that the exporting entity is the one named on invoices and shipping papers. A small business may also benefit from enterprise registration, which can matter for certain schemes and lender processes.
An importer-exporter code is the basic identity for cross-border trade, and customs and banks use it. Some products need additional registrations, such as approvals for food, plants, drugs or particular promotion councils. Which ones apply depends on what you ship and where.
Choose a bank authorised to deal in foreign exchange and ask what it needs: account opening papers, the trade code, and understanding of the buyer. Ask how it handles incoming remittances, document handling for shipments and, later, finance and currency cover. A new exporter often starts with simple collection of payments and adds credit once there is a track record.
Run a dry file before the first order
Prepare a sample set of shipping documents and show it to the bank. Corrections are cheaper before real money is waiting.
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This answer is general information, not advice on your particular case. Terms, eligibility, and requirements change, so check the current position with the relevant institution or authority. Lalsar Holdings' financial advisory and financing work is advisory and facilitation only. Lalsar Holdings is not a lender. Sanction and disbursement of any credit facility is at the sole discretion of the partner bank, NBFC, or financial institution involved, subject to their own eligibility criteria and credit policy.