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Set up business in Iran

                 Set up business in Iran

Set up business in Iran

Practice areas:

  • Banking & Investment Law
  • Business Law
  • Contract & Commercial law
  • Company & Corporate Law
  • Consultancy Services
  • Foreign Investment Law
  • General Civil Law
  • International Trade Law
  • International Commercial Contracts
  • Insurance Law
  • Intellectual Property Law
  • Labor Law
  • Litigation
  • Mediation
  • Nanotechnology Law
  • Private International law
  • Social Security Law
  • Taxation
  • Telecommunication-
  • ICT Law
  • Transport Law
  • Divorce, Adoption & Inheritance
  • Tehran Stock Exchange & Iran Fara Bourse
  • Trademark and Patent registration
  • Arbitration

Set up business in Iran

Set up business in Iran in Eye’s bird view :

Company Registration :

1           Obtain a criminal record clearance

2          Reserve a unique company name, Register and Pay the registration fees

3          Publish a notice of the company formation

4          Notify the State Tax Affairs of the commencement of business activities

5          Register for VAT

6          Retrieve the officially sealed books of account within 30 days of registration

7          Pay the share certificate stamp duty

8          Enroll workers in the social security program

To register, the company must submit the following documents:

  • Articles of association, signed by all shareholders
  • Declaration stating that all shares have been subscribed
  • Minutes of the general assembly of founders and board of directors
  • Minutes of the shareholders’ meeting, reflecting the election of the first directors and inspector(s)
  • Written statement accepting the position of directorship and inspectorship
  • National ID Card (Carte Melli) and birth certificates (certified copies) of the shareholders and inspectors
  • Name of a mass circulation newspaper in which all company announcements will be published

Law and regulations for registration of branches or agencies of foreign companies in Iran. 

Single article– those foreign companies known as legal ones, and registered in their home country, can register their branches or agencies in the fields introduced by Islamic Republic of Iran by virtue  of rules & regulations of the Country.

Abstract of Set up business in Iran regulations:

  1. Fields of activities for foreign companies.
  1. After sale services for goods or services of foreign company.
  2. Implementing of operational processes of agreements signed between Iranian and foreign companies.
  3. Study and to pave the ways for foreign investment in Iran.
  4. Cooperation with technical and engineering companies of Iran to carry out activities in country of third party.
  5. Enhancement of non- oil exports of Islamic Republic of Iran and transfer of know- how and technology.
  6. To carry out activities licensed by governmental institutions such as rendering services on transportation,
  7. Insurance and inspection of goods, banking, marketing and so on.
  1. Documents required for registration of foreign company branches

Foreign companies interested in registration their branches in Iran are requested to provide the following documents :

1-     Written application of the company.

2-     Copy of the articles of association of the company, its establishment notifications, and the  latest amendments  registered in related official body.

3-     The latest certified financial report of the company.

4-     Justification report including information with regards to the company’s activities in Iran.

Justification report includes:

  1. a)      Information related to the company ‘s activities.
  2. b)     Giving reasons and justification for registration its branch in Iran.
  3. c)     Determining the field and activity areas and location of the branch.
  4. d)     Estimation of required Iranian and foreign labor force.
  5. e)     Specification of ways for provision of financial resources in hard currency and Rial (local currency).

5-     Presenting comfort letter from government body in case where an agreement concluded with the body in question.

6-     Completion of  “registration questionnaire” of foreign branch.

7-     A registration approval of foreign company in its home country.

8-     Power of attorney of foreign company’s agent.

9 –     Letter of guarantee from foreign company for dissolution and termination of branch in a certain time which may be announced by CRNI in case their activities are nullified by related organs.

10-    All company documents provided from foreign country must be certified by embassy or consulate of Islamic Republic of Iran in that country, after certification of organs in home country (i.g. office of registration of companies) and by ministry of foreign affairs of home country.

Set up business in Iran

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