AD Code Registration Online – Fees, Procedure, Documents

AD Code full form is Authorized Dealer Code, a 7-digit number which is being issued by the bank for foreign currency transactions. Import Export Code Registration & AD Code registrations are the two most important registrations which have to be carried out by every exporting business. ICEGATE Registration is important for custom clearance of the goods from India.

AD Code registration on ICEGATE portal is required to be done for each port separately, The objective behind registration is to ensure that the Foreign currency transactions in the exporter’s current bank account are from an authenticate means.

                  What is AD Code Registration?

AD Code Registration is a process by which an Authorized Dealers (AD) Code is obtained from the Reserve Bank of India. This unique code is allotted to entities involved in foreign exchange transactions. For instance, importers and exporters have to use the AD Code allotted to them in undertaking their businesses. The AD Code plays a pivotal role in international trade and ensures adherence to the provisions laid down for foreign exchange-related activities. To obtain the AD Code, the business must present the documents for identity, address proof, registration, and other formalities to the authorized dealer bank along with the application form. After approval, it permits businesses to involve themselves in foreign exchange transactions.

                Why is AD Code Registration Required?

There are many reasons why having an AD code is a must for businesses who want to export goods from India. Some important points have been mentioned below:

• Mandatory Documents for Export
• Transfer of Credit to the trader’s account directly
• Submission of Shipping bill for custom house clearance
• Important for claiming incentives & refunds
• Importers requirement for releasing payment
• Port registration for export can be done through AD Code Icegate online platform.

                     Certain Conditions Required to Register AD Code

To register an AD Code, there are certain conditions required to fulfill at the time of registering AD Code.

• AD code registration is required for every port, in case you want to ship your goods from multiple ports.
• An application address to the Branch manager of your Home Bank Branch has to be made for issuance of AD Code.
• A 14 digit code will be shared by the bank on the letter head of the bank as per the prescribed standard.
• An ID has to be created on the ICEGATE portal using the organization based class 3 DSC. All the necessary documents need to be collated & an application has to be made to a custom house using the online platform.
• Make sure to select the right port as goods can be exported from that port only which has been registered with AD code on ICEGATE portal.
• Application will take 3-5 working days for processing. Once the registration is completed & approved all the necessary information related to exporter & shipping of consignment would be visible on the portal

                     Documents Required for AD Code Registration

The documents required for AD Code Registration are followed as:-

1. AD Code authorization letter on banker’s letterhead
2. GST registration certificate
3. Cancelled cheque
4. Importer Exporter Code(IEC) Certificate
5. Company’s PAN
6. Board resolution (For company only)
7. Director or Partner or Proprietor basic info (PAN, Aadhaar card, Voter ID, Passport Copy)
8. Export house Certificate (optional)

Our Team of Professionals can help you in getting the documents prepared for your application.

                            How to get AD Code?

Registering an AD code can be a difficult & time taking process. We would advise you to hire an expert who could get the entire procedure hassle free.

1. Details & Documentation: Provide all relevant details and documents regarding the registration of the ad code with the ICEGATE portal.
2. Application To ICEGATE: Once all the details & documents are provided to the concerned person. The application will be filled with the ICEGATE authorities for approval.
3. Follow-up from authorities: After filing the application, our expert will be in the loop with the department for any discrepancy.
4. Approval from ICEGATE: Once the application is successfully verified by the ICEGATE authorities then the approval will be provided to the applicant

                      AD Code Registration Fees

Here is the overview of the fee structure for AD code Registration which is mentioned below:

Application Fee for AD Code registration is Rs. 2,999/- (It is a one time fee which has to be borne by the exporter).

There is no government fee for AD Code registration.

Note: The aforementioned Fees is exclusive of GST.

                        ICEGATE Registration Verification

Here are some steps for the verification of ICEGATE Verification.

To verify ICEGATE Registration you need to submit all the required fields at ICEGATE ID can be used to avail multiple services like generating shipping bills, document Tracking and document filing.

                            Ports / ICD for AD Code Registration

                                          Conclusion

AD Code Registration is one of the most important mandatory regulatory requirements for a business dealing with foreign exchange transactions in India. This 7-digit number is an exclusive number for recognizing transactions across the border in a transparent and traceable way. When a business submits and verifies documents, it becomes possible to acquire the AD Code for hassle-free international operations within a regulatory framework. The benefits of acquiring an Authorized Dealer Code from an RBI-authorized bank are that businesses can easily carry out their import and export operations smoothly and compliantly. To know more about AD Code Registration consult Monitrix.

Why Monitrix? 

At Monitrix, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.