Now every paypal users from India, need to have Import Export Code, to withdraw there payments in Indian Bank Account or credit cards.
What’s Import Export Code is?
Import export code is used to trade with international companies, my father is in handicrafts business, and they used to export there handicrafts in Canada and USA.
Its very strange that Reserve Bank India, pressuring freelancers, programmers, web designers and individual companies who only depend on PayPal for there income, are also need to Apply Import Export Code.
Process for applying Import Export Code ?
Import Export Code is 10 digit code which issued by Ministry of Commerce and Industry, you can simply download there form there website dgft.gov.in
Are you eligible for Import Export Code?
To to Import Export Code, you need to have serval
- Bank Certificate
- PAN card copies
- Date of birth certificate
- 250 INR Demand draft in favor of DGFT
The whole process will take 2 weeks and you will received your Import Export Code at your resident address
If you had any question, just asked in comment box, thanks