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Starting a business in Iran

Starting a business in Iran

 

Starting a business in Iran

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Starting a business in Iran

Company Formation and Branch / Representative Office Registration in Iran

Law Permitting Registration of Branches or Representative Offices of Foreign Companies

Article- The foreign companies which are being considered to be legal corporate bodies in their country of registration, in case of reciprocal treatment by the country governing the said companies, may register their branches or representative offices to carry out businesses determined by the Government of Islamic Republic of Iran within the framework of the prevailing laws and regulations.

Note: The executive regulations of this Law shall be drawn up by the Ministry of Economy and Finance through coordination with other authorities concerned and shall be presented to the Council of Ministers for approval. The above Law, comprising a Sole Article and one Note was approved by the ICA in the open session of Wednesday November 12, 1997 and was confirmed by the Guardians Council on November 19, 1997.

Requirements for registration a branch office in Iran

The applicants of establishment of a branch in Iran need to submit the following documents to the Company’s Registrar in Iran:

  1. A written application by the company.
  2. Notarized certified copies of the company’s Articles of Association, certificate of incorporation, and latest changes thereto advise to the competent authorities.
  3. A report containing:
    Information pertaining to the activities of the company.
    ii. Justification and the need for the establishment of a branch in Iran.
    iii. Nature and scope of the authorities given to the branch and the object of the branch.
    iv. An estimate of human resources required, segregated between Iranian and expatriate employees.
    v. The manner by which the local requirements of the branch (foreign currency and Rials) are funded.
  4. Registration declaration for the branch. This will be completed by us and forwarded to you for execution.
  5. A letter of authority authorizing the branch manager to act on behalf of the foreign company.
  6. A letter of commitment executed by the local representative undertaking to proceed to liquidate the branch in the event the activities of the branch are terminated by the Iranian competent authorities.
  7. Notarized certified lost audit report & financial statements.

Kindly note that any of the documents out above which are prepared outside Iran must be certified by the competent authorities and confirmed by the foreign ministry and notarized by the Iranian Consulate in that Country. The above documents must be translated into Farsi and the English originals as well as the translated versions must be submitted to the Company’s Registrar.

Starting a business in Iran

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