When you think of starting up a new business you have to get the business license after filing your company formation document. There are specific business license requirements depending upon different factors. These factors are as following:
- State regulations
- City regulations
- Country locations
- Nature of the business, etc.
Steps to fulfill your business license requirements are:
Contact your state, country and city jurisdictions: In order to know the prerequisites of your state, country or city jurisdictions, it is better to consult the Department of Business Services or Corporations Division of your Secretary of State. They will help you in getting the license and help you in moving ahead as per the guidelines.
Hire a lawyer: The lawyer is there to look after the circumstances and keep you updated with latest judicial scenario.
Use a business license service: Paying a lawyer costs much. In order to reduce the cost of hiring lawyers, some companies use the help of the third party that provides business license by keeping you updated on the latest requirement to get the license. They get license applications for you, and even fill the instruction on your part. They keep you updated of the deadlines and make the process of getting the business license smooth and easy.
Export And Import Business Licensing
Most of the companies deal with clients in all corners of the world. They avail raw materials or even finished products from the world’s best vendors. This calls for export and import of goods and services. Export and import comes under the strict vigilance of the government, which is concerned about the economic security of the nation. In order to export and import products and deal smoothly on a global basis while adhering to the judicial regulation, it is important to consult professionals who hold expertise in export and import management regulations and permits for the same. The business enterprises need to be aware of goods fit for export and import activities and the clearing procedures. The expert consultants can guide the business enterprises in making them aware of licensing pertaining to exporting and importing. Along with export and import license, companies venturing in the business field need to acquire several other licenses for:
- Importer Exporter Code – IEC
- Duty Free import of Raw Materials & Components.
- Duty Free import of Capital Goods.
- Export Incentives on physical exports viz; DEPB, DFIA,FMS,FPS etc.
- Export Incentives against Deemed Export supplies viz; Duty Free import of inputs,
Drawback, Refund of Terminal Excise Duty.
At the end, it is the responsibility of the business owner to stay vigilant and updated on import & export regulations and derive the maximum benefits under the Foreign Trade Policy.