Do you want to launch a pharma franchise business to export pharmaceutical products? Well, it is a business opportunity with a great scope. However, it is essential to know about the procedure and steps to take it systematically.
Due to the support provided by the government, it is possible to avail various facilities and concessions to launch an export unit. What is the step-by-step process for this?
- You need to launch a PCD pharma company to manufacture or market pharmaceutical products.
- There is a mandatory requirement to get Import Export Code Number or IEC Number.
- To export the goods, you need agents and distributors. Appoint them and sign terms and conditions to make it legal.
- You need to register the products in the country you want to export.
- From DGCI, you are required to get the approval.
- Finalize delivery and shipping terms, mode of payment and delivery method.
- Get the purchase order.
- You are supposed to send the Pro-forma invoice. It must include details such as freight, rate of the product, type of packaging, and so on.
- You need the format of the commercial invoice which will be issued against the purchase order or LOC (Letter of Credit).
- You are supposed to send the custom clearance certificate to the exporter. The material cannot be shipped unless the clearance certificate is not obtained. It is required for importing and exporting countries both.
List of documents
When you launch a company to export pharmaceutical products, all the formalities must be done without any error. If you are careful about the documentation part, then it becomes easy.
List down the documents you will have to arrange:
- Passport Size Photo- It will be required for authentication of the application. You are supposed to submit the photographs of the Proprietor, Partners, Directors, or any authorized person
- Proof of Address
- Copy of PAN (Permanent Access Number) of the applicant
- Lease agreement, rent contract, or proof of ownership for the property that will be used for the business.
- Partnership deed or the Company Association Document.
- Bank certificate of the authorized bank account associated with the business. If you are unable to produce the bank statement, then a cancelled cheque will do.
Other than these documents, you are required to submit any specific document asked by the DGFT department. You should register to their website and apply for the ICE number. The custom department issues a Custom Clearance document which is mandatory for every export unit.