Registration and membership certificates are abbreviated as RCMC. According to the current foreign trade policy, this certificate gives the company permission to export and benefit from concessions. RCMC certificates are issued by the Federation of Indian Export Organisations (FIEO).
Export Promotion Council of India (EPC) also issues the certificate. It can also be issued by community boards. Providing this certificate has the main purpose of promoting exports from India. In addition, securing such a certification would add authenticity to public transactions.
The certificate is not required by organisations or institutions that have been exempted from export and import license requirements. Five years is the validity period of this certificate.
Exporters are required to take this form of a certificate under India’s Export Promotion Policy. Export promotion councils (EPCs) will issue the certificate.
FIEO is considered to be the export promotion council in India for RCMC registration. For the firm or the organization to become a member of FIEO, they will need to submit an application.
Types of Membership for RCMC Registration under FIEO
FIEO RCMC Registration has two types of membership
- Ordinary Membership
According to the name, the membership is only the basic one. A company just entering the export and import business would be eligible for this type of membership.
- Associate Membership
Associate memberships are reserved for entities with experience in export and import. Associate membership fees are based on the fee plus a nominal GST rate.
Benefits of RCMC Registration
FIEO is the main regulatory authority for RCMC registration. Therefore, the exporter must apply for membership with the FIEO. RCMC is the registration granted by the FIEO. RCMC registration has the following benefits:
- Foreign Trade Policy
- Promotion of Exports
- Availing Different Schemes
- Compliance with Government
- Updates from FIEO
Eligibility Criteria for RCMC registration
An RCMC certificate applicant must meet the following criteria when applying to the FIEO:
- Exporter or Merchandiser (Merchant)
Applicants must first verify that the business they conduct is an exports and imports business. In order to establish an export business in India, this is one of the primary requirements. Additionally, the exporter must apply for an Import Export Code (IEC) with the appropriate authority. The DGFT is the authority responsible for IEC.
- Declaration of Main Line of Business
Exporters and merchants must declare their main business line. As an example, if the main line of business is coffee and tea, then the Tea and Coffee Promotion Board must be consulted. Export consent must be provided by the FIEO if the products are not covered by any export promotion board or any other authority.
- Consent from Board of the FIEO
It is the applicant’s responsibility to ensure that the respective board or FIEO has approved the application. In the absence of a specific board, the applicant would have to apply to the FIEO for consent. The FIEO must approve the same.
What is the process for applying for Ordinary Membership with the RCMC?
There are two types of membership in the RCMC. The following steps must be taken if the individual wishes to apply for ordinary membership:
- Visit the FIEO’s website
- Click on Application for Membership Online
- Provide the Mandatory Details
- Provide the Entity type
- Provide information on Key Management Executives
- Provide Letter of Authority
What is the process for applying for an Associate Membership with the FIEO?
Associate membership applications must follow the following instructions
- Download the application form
Application for associate membership must first be downloaded by the applicant.
- Indicate the type of business
As a next step, the applicant must select the category of business he or she is interested in. An applicant must describe the type of business and how it operates.
- Business details should be filled in
The applicant must provide information about the business. In this case, the IEC number, details about the business, and other information would be provided.
- Provide Documents
To complete the form, you must upload or attach documents.
- Provide the Letter of Authority
The applicant must provide the letter of authority as the last step. In the letter of authority, it will be indicated who will represent the applicant at the FIEO.
Documents for RCMC Registration
In order to obtain the above license, you will need the following documents:
- A copy of the applicant’s Import Export Code. IEC codes must be self-certified by the licensing authority or the licensing body.
- A cross-cheque, a demand draft (DD) or a pay order in the name of Federation of Indian Export Organisations would be appreciated.
- The DD or cross check must be used for the annual membership subscriptions. In order to comply with Rule 6 (i) of the Memorandum & Articles of Association of FIEO, such rules must be adopted.
- An authority letter must follow the rules prescribed by the particular authority. A chartered accountant must sign and attest this authority letter. It is necessary for the seal to be accompanied by a registration number for the bank.
- A self-attested copy of the SSI certificate, industrial license, import export license, and other specifications must also be provided. If applicable, this would only apply.
- The self-certified copies of the documents are required if the business is considered an industrial house.
- GST-related information, such as GSTINs