IRAN

Doing Business in Iran – 2014/15 Update1L1A1930

There are two main options when you want to do business in any country including Iran:

  • Opening a branch/Rep office in Iran
  • Investing in a particular project

 

  1. Opening a branch/Rep office in Iran

The Article 2 of the Regulations for Execution of the Act Permitting Registration of Branches or Representatives of Foreign Companies provides that the Branch of a foreign company is considered as a local unit of main company, dependent upon the latter company, which directly carries out the subject matter and duties of the main office locally by their representative(s).

The requirements for registration of a Foreign Company Branch

Foreign companies applying for establishment and registration of a Branch Office in Iran should prepare the following documentations and submit the same to the Registration Office for Companies and Industrial Property.

  • Written application/request by the company;
  • Certified copy of the main company’s articles of association, notice of establishment of the main company and the latest changes recorded changes at the competent offices;
  • The last confirmed financial statement of the company;
  • A detailed report including relevant information on the activities of the company
  • Submission of a letter of Introduction (reference) from a Governmental Organization, if a contract is concluded with such Organization
  • An application for registration of a branch of a foreign company
  • The certificate attesting registration of the foreign (main) Company
  • Letter of authorization of representative(s) of the foreign company
  • A letter of undertaking to the effect that if the activity permit of the Branch Office is announced as null and void by the competent authorities, within the period prescribed and communicated by the Registration Office for Companies and Industrial Property, the Branch Office shall take all the required steps for its liquidation and shall introduce the liquidator

 

Representative(s) of a foreign Company IMG_4177

The Representative of Foreign Company is a natural person or a legal entity, which, in accordance with the provisions of the respective contract, undertakes carrying out a part of subject matter and tasks of the Main Company.

The commitments the representative(s) of a foreign company

The Representative(s) of a foreign company shall be responsible for the activities carried out locally on behalf of the main company.

Administration of the Representative’s affairs

Administration of the representative’s affairs shall be taken care of by one or more natural persons residing in Iran under the Regulations for Execution of the Act Permitting Registration of Branch Offices or Representatives of Foreign Companies in Iran. The requirements for registration of a representative in Iran. If a natural person is the representative of a foreign company, the original and official Farsi translation of the following documents shall be submitted to the Registration Office of Companies:

  • Certified copy of the “Representative Contract” with the foreign company
  • Copy of Birth Certificate
  • Address of the place of residence of the representative and place of the representative
  • Papers indicating the background of the applicant for the registration of the representative in the line of business stipulated in the contract
  • Certified copy of Articles of Association of the foreign company, Notice of its Establishment and Registration, and a copy of the latest changes recorded by the relevant Authorities
  • A report stating the activities of the main company and the reasons justifying the establishment of the representative
  • The last confirmed financial statement of the company
  • A letter of Introduction (Reference) by the relevant Ministry    (If a contract has been concluded with the said organization)
  • Application for Registration of a foreign company’ Branch
  • Certificate of registration of the foreign company
  • Letter of Authorization of the Iranian representative

 

 

       2. Investing in a particular projectmyriam20120925104927530

Investment in particular project is subject to applying to acquire “Foreign Investment Promotion & Protection Act” (FIPPA) license from Organization for Investment Economic and Technical Assistance of Iran (OIETAI) which is working under supervision of Ministry of Economy.

The full detail of FIPPA license and stages of receiving for this license has been explained in the following files:

“Procedure for foreign investor”

 “Foreign Investment Promotion & Protection Act (FIPPA)”

 

 

 

Source: http://www.iranbc.ir/%D8%AE%D8%AF%D9%85%D8%A7%D8%AA%D8%AB%D8%A8%D8%AA%DB%8C%D9%88%D8%AD%D9%82%D9%88%D9%82%DB%8C/%D8%AB%D8%A8%D8%AA%D8%B4%D8%B1%DA%A9%D8%AA/%D8%AB%D8%A8%D8%AA%D9%86%D9%85%D8%A7%D9%8A%D9%86%D8%AF%DA%AF%D9%8A%D8%B4%D8%B1%D9%83%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A.aspx
 Source: http://sherkat.ssaa.ir/SubjectView/tabid/1857/Code/987/Default.aspx
Source: http://www.investiniran.ir/en/home