Wanted to quickly check with folks who have looked into (or have gotten) an IEC Is there any drawback once you have received it? Is there any mandatory filing / compliance required? I was setting up some payment gateways for international transactions and it seems to me that it just makes a few things easier.

@loud-glass-33663 I have gotten an IEC. It's pretty straightforward to get and needs an application to be filled and you should get the IEC in a few days. It;s a once in your life thing and no compliance needs to be done after receiving it. I have found it to be a little helpful with international payments as well as in clearing customs for international shipments and the hilarious thing is that the IEC is actually your PAN number only, and I am not sure if anyone actually checks if you have it (you can even now tell anyone you have an IEC and tell your PAN number, however it just seems better to have one for the long term)

Fantastic feedback @purple-animal-84963 Thanks for sharing. Just the kind of information I was looking for.

When I got the IEC, the process was completely online and instant. Been more than a year and no hassles/compliances. As Karan said, the IEC number is same as the PAN number, but having the extra document at hand was helpful a couple of times.