FIEO RCMC Registration Online Fees | FIEO Product List
The Federation of Indian Export Organization is known by the initials FIEO. In 1965, FIEO was established jointly by the Ministry of Trade and Commerce, private trade, and industry. The Organization's primary goal is to advance global trade, and it is in charge of representing and aiding exporters and business owners in international markets. As a result, FIEO is actively trying to expand and improve the market and the export of India.
Export House/Star Export House/Trading House, three government-recognized exporting enterprises, are represented by the Organization. In addition to encouraging the export of goods, FIEO also works to promote the export of services.
All Indian businessmen participating in the export-import industries use the FIEO as an example. All the export-related organizations in India are regulated by FIEO with the aid of registration. As a result, it directs the government in marketing India's exports. The registration of FIEO enables businessmen to take a number of advantages, including international exposure, in-depth advice on an important aspect of international trade, such as Foreign Trade Policy (FTP), and other concessions to MSMEs.
RCMC under FIEO
The Foreign Trade Policy of the Government of India and the Memorandum and Articles of Association of FIEO control the membership regulations of FIEO. In order to receive all the benefits offered to exporters under this policy, The exporter is required to obtain the Registration-cum-Membership Certificate (RCMC). The government of India has designated FIEO as the council for export promotion for registration.
For the purposes of RCMC registration under FIEO, there are two types categories of memberships:
This sort of membership will be for organizations that have just begun the export and import business, as the name of the membership itself denotes.
Organizations which have a long history of exporting and importing goods are eligible for associate membership. The fees for associate membership are higher and are based on a fee in addition to a minimal GST rate.
The Federation of Indian Export Organizations (FIEO) export promotion initiatives are as follows:
1)To keep traders informed of global events that are impacting information on the country's foreign trade as well as international commerce, FIEO suggests a weekly e-bulletin.
2) The Indian Trade Portal, a knowledge platform for MFN Tariffs, Preferential Tariffs, SPS/TBT, and Rules of Origin of 65 countries, Import Statistics of 87 nations, and India's contribution to imports provides access to Free Service Online.
3) The council offers two additional chat services on the FIEO website to answer questions about quality standards, corporate legal affairs, arbitration, international agreements, technology transfer, patents, trademarks, brand management, and similar topics.
4) The FIEO website contains press articles on topics pertaining to global commerce.
5)FIEO had begun offering FOREX Services, including Spot rates, Forward rates, Forward Calculator, FOREX Matrix, Pivot Points, LIBOR Rate, Historical Data, Currency Source, and Chart.
Advantages of FIEO Registration
Global Reach: The exporters are provided with appropriate advice regarding global visibility through FIEO registration.
Advice Through Online Chat: Exporters with FIEO registrations have access to the appropriate assistance through online chat on topics like FTP and company legislation, among other things.
Free Online Business: Portals like eBay and Amazon make it easy for FIEO members to operate free online storefronts for a period of six months.
Travel Assistance: Exporters who are registered with FIEO can receive a 10% discount on all local and international airline tickets.
Quick and Low-Cost Credit Rating: One of the top credit rating organizations, CRISIL, offers FIEO exporters a 10% discount on credibility analysis services.
Following the government's rules: An organization or business that has completed this registration will be required to abide by all applicable government regulations.
Information from FIEO: The FIEO will also provide updates on India's international trade policies in addition to a variety of concessions. Anyone can register as an individual exporter if they wish to receive different benefits from FIEO without obtaining an RCMC accreditation.
Qualifications to Register with the RCMC
When submitting an application to the FIEO to get the RCMC certificate, the applicant must comply with the following requirements:
Either a merchant or an exporter: An applicant must confirm that the business being conducted is an export-import operation. One of the most critical requirements for starting an export company in India is this. Additionally, the exporter must confirm that they have submitted an application for the Import Export Code (IEC) to the relevant government. The DGFT is in charge of the IEC (Director General of Foreign Trade).
Statement of the Primary Business: The exporter or merchant must identify their primary line of business. For instance, if tea and coffee are the company's main product lines, the corresponding approval from the Coffee and Tea Promotion Board is required. The FIEO should approve the export of the goods if they aren't listed with any export promotion boards or other authorities.
Board approval for the FIEO: An applicant must ensure that the necessary approval should be obtained from the specific board or the FIEO. If there is not a specific board for a relevant product, that applicant will need to apply to the FIEO for approval. The same process requires approval from the FIEO.
Documents of RCMC/FIEO Registration
When an exporter obtains RCMC, they can submit an application in the format required in the appendices and register to join EPC.
The following documents must be submitted in order to become a member.
Application for Registration/Membership with details of the business line.
A copy of the Importer and Exporter Code (IEC) number that should be self-attested.
Bank Applicants' statement.
SSI/IEM certificate if the candidate is in the manufacturing industry.
Declaration regarding the export and import operations carried out during the prior fiscal year.
SSI- Small-Scale Industry
IEM- Industrial Enterprenuer Memorandum
If a company or partnership firm is applying, a copy of the Memorandum and Articles of Association is required, as well as the partnership deed.
Certificate of Membership and Registration: In order to take advantage of several benefits under the Foreign Trade Policy, an exporter is required to get a Registration-cum-Membership Certificate (RCMC). The government views FIEO as an export promotion council for the purposes of enrollment.
Registration Validity of RCMC/FIEO: The RCMC will be considered to be in effect as of the first day of April following the licensing year and will be suitable for five years.
Registration of the RCMC with the Export Promotion Council: India has 9 commodities boards and a total of 26 export promotion councils. It is up to the EPC and Commodities Board to issue RCMC. They have been granted permission by the central government to provide RCMC to exporters. In India, each EPC and the commodities board categorize themselves according to the types of items.
Implications of the Business of RCMC Holder's Change in Constitution
- It is required for the RCMC holder to notify the enrolling authority within a month of the date of any change in the exporter's possession, constitution, name, or address. Deferrals made based on merit are acknowledged by the enlisting authorities.
- Exporters submit quarterly returns or subtleties to the relevant enrollment body regarding the costs of specific products. However, the status holders also submit quarterly reports to FIEO in the format specified by FIEO.
FIEO Online Registration Procedure
- An exporter desiring to obtain an RCMC must state his major line of business in the application submitted to the Export Promotion Council specifying that line of business.
- If no Export Promotion Council, Commodity Board, or similar organization has obtained the fare item, RCMC in that regard must be obtained from FIEO.
- The exporter must obtain RCMC from the Federation of Indian Exporters Organization (FIEO) in the event that there are multi-item exporters who are not registered with any EPC and whose primary line of business has not yet been established.
RCMC Online Registration Process
The RCMC registration system recognizes two different membership types. The applicant's compliance with the following requirements must be taken into account if they are applying for regular membership:
Visit the FIEO's website: The first thing a merchant or exporter should do is go to the FIEO’s website. The candidate will have the choice of clicking on the membership tab. Click on "how to apply for RCMC registration" after that. In addition, the program can be downloaded via the download tab on the FIEO website.
Click on online membership application: Under the primary tab for membership, there are subtabs. The applicant must click on that application in order to be taken to another homepage where he must enter his credentials. This will include the username, password, and import-export code number (IEC Number).
Complete the information given: There will be another tab labeled "regular membership" on the membership tab that has already been selected. Under the usual membership, the exporter will be required to furnish information. Name, address, and the exporter's status—whether they are a One Star, Two Star, Three Star, Four Star, or Five Star Export House, Service Provider, or Registered Member of a Chamber of Commerce, EPC, Commodity Board, or Association of Institutes—must all be included in this information.
Provide the required information: It is required to provide the name of the specific company and the type of exports processed by the company.
Indicate the entity type: The applicant must specify the type of entity in the provided box in the following step. This would indicate if the entity is a partnership.
Information about the key management executives should be provided: The applicant must then provide details about the organization's main management executives. This would include specifics and data regarding the company's directors and stockholders.
Please submit a letter of authority: An applicant should provide the letter of authorization as the last step. The authority that will represent an applicant in the FIEO application will be specified in the letter. The applicant must provide such type of information.
After establishing that the Exporter had a reasonable opportunity to defend themselves, the Export Promotion Council may deregister the Exporter for a set period of time to break the registration requirements.
Our Role in Obtaining the FIEO Registration
- Our consultants will educate you concerning each and every aspect of FIEO registration. Including how to get it.
- JR’s skilled consultants will assist you in filling out the application form for obtaining it.
- We will ensure a smooth procedure by ensuring proper documentation and evaluation.
- The professional consultants of JR Compliance will provide you with proper guidance during the registration procedure.
- In case of queries, we will provide you with the best possible solution for your concerns regarding FIEO registration.
To conclude, JR Compliance can assist you in obtaining the FIEO approval by ensuring proper documentation, evaluation, testing, etc. Moreover, to make our client understand each aspect of it, we will educate you regarding the same.
Additionally, late document submission, or filling in false information in the application form can delay the process.
Thus, to avoid such inaccuracy contact our FIEO Registration Consultants and experienced team immediately for professional assistance and support in the FIEO.