Formation of Import Export Firm

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dipti t morajkar (Querist)
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23 November 2010 One of my family friend was working with a Chennai based Import-Export Company. This company has business connection in Dubai. As this family friend had helped the Company in developing the business in Dubai and therefore the Company has given him the option to start with a business in Pune, This family friend now want to set up a firm which will take orders from Dubai and send them to the Company in Chennai and the company will comply with the orders accordingly.

I wanted to know what is the procedure to form an Import Export firm in Pune? Where do he need to register the firm and what is the procedure for that?

Does any one has any clue or consulting agent who works in this area?

Regards,

Dipti Parab.

Venkattaraman A

Venkattaraman A (Expert)
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24 November 2010 Dear Dipti

It is nice to note that your friend is entering in to a new venture.

Your question is not very clear? You have stated that your friend will have his/her office in pune and collect orders from Dubai and forward the same to Chennai. in what way it helps your friend? In this case He/she is only a Job Worker as far as chennai firm is concerned.Where as the chennai firm is a Exporter because the the order is placed by Dubai based firm on Chennai Firm.

First of you have to decide which type of firm your friend wants to float:

a) Sole Proprietor or Sole Proprietrix firm

b) Partner Ship Firm

C) Private or Public Limited Company.

Ask her to open a current Account with a Nationalized Bank and also apply to RBI in a prescribed form for Import and Export Code and also apply to local chapter of Export Promotion Council they will guide her properly to full fill all formalities and finally after obtaining the export order He/she has to take insurance from ECGC for the risk coverage etc.

Any good Auditor will be in a position to help you in starting the Firm.

dipti t morajkar

dipti t morajkar (Querist)
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24 November 2010 Thank you Venkattaraman Sir.

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