Tuesday, May 28, 2024

Process of Issuance of the Foreign Investment License

Foreign Investors and Iranians reside abroad who intend to invest in Iran in terms of FIPPA, at the first level, have to fulfillment a special form that's available through Organization for Investment Economic and Technical Assistance of Iran (personal referral or in website and submit to the Organization. Application of Foreign Investor refers to the "Foreign Investment Board" and shall be fallowed up to level of license issuance. All related levels from submission of investor's application to the organization until issuance of the license, is present in schema (1). Foreign Investment can be done through the establishment of a new Iranian firm and its registration at the General Directorate for  Registration of Companies and Industrial Property, Joint Venture with an existing Iranian firm and/or Contractual agreements with an investee Iranian firm. Administrative procedures for application of Foreign Investment Issuance shall be shortly and simply designed at four levels as:

Level 1- Submission of   Application  of  Investment  to the  Organization  for  Investment  Economic  and  Technical  Assistance  of  Iran (OIETAI) OR  Centers for  Investment  Services in provinces.

Recommended to the applicants  that  they are sure  about  information  in admission  form to be filled truly and  rather  use of  Technical  Feasibility and Economic  Study of the Project, and in case  of  absence of  such these  studies, by contribution of the last information  and  the project data  in which they desire to invest. For that, during the process of admission, staff  of the General Directorate of  the  Foreign Investment of the Organization can be consulted.

Level2- Investigation of the Investment requests by the " Foreign Investment Board".

Following submission of application,the Organization shall provide a report about the application in order to investigate and decision making by the "Foreign Investment Board".This process shall not exceed more than 15 working days from receiving the admission form.

In general, it shall be invited Foreign Investors representatives to participate in the session of the "Foreign Investment Board". However, the Board has to decide , at most 1 month, about the admission application.

Level 3-  Giving (sending) the Draft Investment License to Foreign Investor 

In order to obtain the confidence of the Foreign Investor satisfaction from the Board decision, the Draft Investment License shall be send to the Foreign Investor, before its issuance.

This provides an opportunity for Foreign Investor to study the content details of the Investment License and to express his/her agreement or opposition with respect to the license, before the final Issuanse.

The organization welcomes to every opposition comment with respect to the "Foreign Investment Board" decisions and is ready to bring the subject within the Board for reinvestigating.

Level 4- Issuance of the Investment License

The Final License, in any condition, shall not be issued before that the Organization  be  formally  informed about the Foreign Investor  agreement with respect to the Draft Investment License.

Following the reception of  the Investor conformation  about the Draft License, the final license shall be issued by the signature of the Minister of Economic Affairs and Finanace.

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