Starting a business in Iran
According to Goldman Sachs report Aug 2017, Iran is among the "The Next Eleven", a list identified by Goldman Sachs investment banker and economist Jim O'Neill as having a high potential of becoming the world's largest economies in the 21st century. Iran's promising outlook for investment and future growth makes it a reasonable destination for starting a new business or expanding an already owned one.
To start or expand your business in Iran, you can:
- register a fresh company in Iran,
- register a branch office in Iran,
- and find a local partner as an agency distributor.
Reserve a unique company name in Iran, Register at the Companies' Registration Office, and Pay the registration fees
To register in the Companies Registration Office, the company must submit the following documents:
- Articles of association, signed by all shareholders
- Declaration stating that all shares have been subscribed
- Minutes of the general assembly of founders and board of directors
- Minutes of the shareholders’ meeting, reflecting the election of the first directors and inspector(s)
- A Written statement accepting the position of directorship and inspector ship
- National ID Card and birth certificates (certified copies) of the shareholders and inspectors
- Name of a mass-circulation newspaper in which all company announcements will be published
Application files are assigned a bar code so that each internal desk that receives the file tracks its entrance and exit. A written, an electronic payment system mass-circulation with a card and a machine is used to pay registration fees.
Tax and Insurance
Iran's rules for Tax and Insurance are not very complicated: Insurance applies for all the staff working for the company (details as below), VAT is applied to providers of services and goods (9%, declared every 3 months by your accountant) and the income tax is a maximum of 25% of your Net Profit calculated by your documents and accountant.
BIZEX can help you find partners and distributors as well. For such services please contact us