Support Agent Role

The Crucial Role of Private Agents in the Indian International Economic Service (IIES)

Private support agents play an extremely important role in the Indian International Economic Service (IIES). These agents are registered under the Department of Economic Affairs and their main function is to help clients obtain an NOC (No Objection Certificate) for their foreign funds. Without an agent, no individual can obtain an NOC for their foreign funds. The agent not only compiles and verifies all of the client's documents but also acts as the first identifier in the process, presenting the client's fund details to the authorities. Furthermore, the agent handles all responsibilities from preparing the NOC application, filing, monitoring the approval, and guiding the client after the NOC is received. Without them, completing the NOC process becomes difficult and complicated.

Detailed Roles and Responsibilities of the Agent

Compilation and Scrutiny of Client Documents

  • Collecting all necessary documents from the client, such as bank statements, source of foreign funds, tax returns, identity proof, etc.

  • Ensuring the accuracy and completeness of the documents.

  • Contacting the client to correct incomplete or incorrect documents.

    • Preparation and Filing of the NOC Application

  • Preparing the NOC application along with all documents.

  • Ensuring the application conforms to the guidelines of the IIES and the Department of Economic Affairs.

  • Submitting the application on time and ensuring correct filing.

    • Representation of the Client Before Authorities

  • Becoming the client's first point of contact and representative during the application process.

  • Providing clear and verified answers to any questions from the authorities.

  • Confirming the source and legitimacy of the funds

    • Role as the First Identifier

  • Confirming the validity and source of the client's funds.

  • Ensuring the funds have not come from any illegal or suspicious source.

    • Approval and Follow-up

  • Monitoring every stage of the application.

  • Immediately fulfilling any requirement for additional documents or corrections.

  • Ensuring the NOC approval process is completed in a timely manner.

    • Responsibilities After NOC Issuance

  • Handing over the documents to the client after the NOC is received

  • Ensuring all details in the NOC are correct and complete.

  • Explaining the correct use of the NOC and the subsequent process to the client.

    • Other Potential Roles

  • Providing financial and legal advice to the client.

  • Keeping the client informed of new IIES guidelines and rules.

  • Acting as an intermediary between the client and the authorities.