Iran Company Registry

Country Overview

Official name

Kingdom of the Netherlands

Location

Northwestern Europe

Amsterdam

Capital

Population

17,151,228

Official language

Dutch

Currency

Euro

Government

Unitary parliamentary constitutional monarchy

Gross domestic product

(GDP) 2019

$914 billion (17th)

Company Registration

Company Formations in Iran

 

Iran is the second largest country in the Middle East, has a rather large economy and it is situated second in the world when it comes to natural gas reserves. Thus, many foreign investors think about setting up a company in Iran.

 

 Types of business entities in Iran

 

As a foreign entrepreneur who wants to invest in Iran, you can choose from a few types of business entities such as the limited liability company, the public joint stock company, the representative or the branch office.

 

  • The type of business entity that is usually preferred by investors is the private joint stock company. In order to successfully register this type of company, you need to have a minimum two directors and three shareholders. It does not matter if they are Iranian citizens or not. The minimum share capital that must be paid is 40$.

 

  • Another type of business entity found to be convenient is the private limited liability company, that requires at least two directors and three shareholders. Again, their nationality has no importance. One of the advantages is that the required paid up share capital is minimum 1$ and that the registration process will take approximately three weeks.

 

 Opening a company in Iran

 

There are a few simple steps to be followed if a foreign investor wants to incorporate a company in Iran (in case of the private joint stock company):

 

1) First of all, you have to get a certificate from the authorities in Iran proving that you do not have a criminal record.

 

2) Second you will have to choose a suitable name for the company, one that has not already been used, and then register it at the Companies Registration Office and pay a fee for that process. You also need to submit some documents in order to register a company in Iran, such as a bank record stating that you have paid minimum 35% of the capital share and a written document where the directors state that they accept their position within the firm.

 

3) Then you have to place an announcement of the company formation in a well-known newspaper. This process can usually take up to 30 days to be completed, but meanwhile the business can continue with a stamped copy you receive from the official gazette.

 

4) Furthermore you will have to pay the stamp duty in the course of not more than 60 days after the company has been registered.

 

5) Last you have to go to the Labour Department of Iran and enroll your workers in the social security program and thus obtain a workplace number.

 

As Iran offers so many advantages, many foreign entrepreneurs choose the country for the fact that the taxes for workforce are low, the company’s shares can be 100% foreign-owned and the registering process can be quick and cheap, as well as the rental or the running of the business itself.

 

Please contact us for more information. Our specialists can offer you support with the procedures.

 

 

The list of requirements includes the following

 

  1. Need to submit a formal writing requesting for registration of their company.
  2. Provide certified photocopies of the articles of association and articles of memorandum. Any other changes made in the company registration of the parent company should also be provided.
  3. The last audited financial report of the company.
  4. A feasibility study of the company should be provided. This study should contain all the information related to the activities done by the said foreign company. There should be detailed explanation as to why the company wishes to incorporate in Iran. A description of the type of activities to be performed by this particular company in Iran should also be mentioned along with the permanent address of operations. As estimated number of local workforce required and expats needed should also be included in this feasibility study. And lastly, the feasibility study must contain a financial sector. Over there it should be clearly mentioned as to how much money is being invested in this company and in what currency. There should be a detailed flow of currency that will be used in the daily operations of the company.
  5. Introduction of a letter of presentation from a government on the off chance that the branch has been set up for usage of an understanding between the remote organization and that administration element.
  6. Once all the above steps have been completed and the documents served, the foreign company will have to fill up the Statement of Registration form.
  7. The Statement of Registration form will be followed by filling up the Certificate of Registration. These forms require the official signature of the owner of the foreign company or the signatures of the board of members.
  8. The Companies Registry in Tehran then requires the Letter of Authorization as well. This is basically the letter that the foreign company has given out to their representatives in Iran. Submission of this letter is crucial and should not be ignored.
  9. A letter of Undertaking is expected to be provided as well. This letter is the foreign company’s undertaking which states that they shall close down their offices in Iran in case of some sort of violation of the rules of the state. It indicates that the state has the full right to revoke their business license if they fail to adhere to the rules and regulations imposed by the government body.
  10. The last step that involves the registration requirements of a foreign company in Iran is to ensure that all the documents provided by the said foreign company are certified by all the appropriate authorities. This includes the local registries, as well as being confirmed by the Foreign Ministry of the country from where the foreign investor is from and finally by the Iranian embassy of that country. Once all these have been ensured, the documents mentioned above should be translated into Persian by an official translator. The translator should be certified by the Judiciary. Once the translation is done, all the original documents should be then submitted to the Companies Registry to ensure the proper registration of the company.

Consultation

Our business set up services include company formation and registration services, taxation, accounting & bookkeeping, audit and assurance, legal (Includes Intellectual property law) and branding consultation.

At Business Setup Worldwide, we have an experienced team of professionals, specialized in advising the right kind of business setup considering the need. Our consultants design specific services which help business owners to start a business in a cost effective manner in your desired location.

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F.A.Q.

How long does the company registration in France take?

There isn’t a standard timeframe for the registration process of a company.

Is it hard to open a company in France as a foreigner?

There are no specific requirements related to the nationality or residency of company directors in France.

Can I open a bank account remotely for my company in France?

The bank opening process in France requires the presence of a company representative, so your presence will be required.

Can I benefit from France’s double tax agreements in order to reduce my taxes?

You can benefit from these agreements as long as France has signed such a treaty with your home country; however, France offers many tax deductions and exemptions to foreign investors.

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