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Iran Business Setup

Updated:2018-4-4 14:32:41    Source:www.tannet-group.comViews:155

Iran business setup refers to start a business in Iran. Iran is a sovereign state in Western Asia. The country's central location in Eurasia and Western Asia, and its proximity to the Strait of Hormuz, give it geo-strategic importance. Iran's economy is a mixture of central planning, state ownership of oil and other large enterprises, village agriculture, and small-scale private trading and service ventures. Foreign entities can approach the Iranian market in different ways, for example, incorporating a new company, registering a branch office and a representative office. These are three different ways for foreign companies to do business in Iran.

Business Setup in Iran
Following a directive issued on 2008, The Company Registration Office will now permit the registration of up to 100% foreign controlled companies in mainland Iran without the need for presenting a foreign investment license.

Along with assisting the clients to register their company in Iran, we also can help clients to draft the Articles of Association, to check the validity of  minutes of General Managers of Founders and Board of Directors meetings and the shareholder meeting under the Iranian Commercial Law and to prepare all the required documents in order to register the company.

Registration of a branch or representative office
The Council of Ministers approved the Executive By-Laws of the Law Permitting Registration of Branches and Representative Offices of Foreign Companies under No.019776T/M/78-930 on May 2, 1999. According to Article 1 of these By-Laws, the companies that are considered as legal companies in their countries of origin i.e. have been formed on the basis of the laws and regulations of those countries and are legal entities, may set up their branches or representative offices in Iran, on the basis of the applicable laws and regulations, in order to carry out the businesses mentioned hereafter.
There are other certain requirements applicable to the foreign entities seeking to register branches or representatives office in Iran:

1. companies shall be able to enjoy the same treatment (as a minimum) in your country regarding registering branches or representative offices;
2. Representative agencies shall be managed / administered by persons permanently situated in Iran.

Field of Activities for Foreign Company
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.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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