Islamic Republic of Iran company registration

DOING BUSINESS IN ISLAMIC REPUBLIC OF IRAN IN 2022

pay fee by instalmentsbusiness setup without travelGuaranteed solutions

For over a decade, Healy Consultants Group PLC has assisted our Clients with business registration in Iran. Our services include i) company setup ii) license registration iii) business bank account opening iv) employee recruitment assistance v) visa strategies and vi) office rental solutions.

Compare different Iran entities LLC Fast business setup solution Free zone LLC Private JSC Public JSC Representative office Branch office
Also known as Sherkat ba Masouliyat Mahdoud legally conduct business now N/A Sherkat Sahami Khass Sherkat Sahami Am N/A N/A
Best use of company? All products and services Close a customer deal now Manufacturing, import and export Large projects To secure public funding Marketing & research Specific projects
How soon can you invoice Clients/sign sales contracts? 5 months 2 months 4 months 5 months 7 months 5 months 5 months
How soon can you hire staff? 4 months 2 months 3 months 4 months 6 months 4 months 4 months
How soon can you sign a lease agreement? 3 months 2 months 2 months 3 months 4 months 3 months 3 months
How long to supply corporate bank account numbers? 5 months 2 months 4 months 4 months 7 months 5 months 5 months
Entity can be wholly foreign owned? Yes Yes Yes Yes Yes Yes Yes
Corporate tax rate on annual net profits? 25% 25% 0% 25% 25% 0% 25%
Limited liability entity? Yes Yes Yes Yes Yes No No
Government grants available? Yes Yes Yes Yes Yes No No
Resident director/partner/manager/ legal representative required? No No No No No Yes Yes
€ minimum paid up share capital? €40 €40 €120 €40 €200 none none
Can bid for Government contracts? Yes Yes Yes Yes Yes 0% Yes
Corporate bank account location? Bank Melli Bank Mellat Al Rajhi Bank BSI Bank Maskan Bank Bank Melli Bank Mellat
Can secure trade finance? Yes Yes Yes Yes Yes No Yes
VAT payable on sales to local customers? 9% 9% 9% 9% 9% None 9%
Average total business set up engagement costs? 26,140 31,040 28,580 26,020 21,740 14,870 25,110
Average total engagement period? 6 months 4 months 5 months 6 months 8 months 6 months 6 months

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Accounting and tax considerations LLC Fast business setup solution Free zone LLC Private JSC Public JSC Representative office Branch office
Statutory corporate tax payable? 25% 25% 0% 25% 25% 0% 25%
Legally tax exempt if properly structured? No No Yes No No Yes No
Group HQ tax incentives? Yes Yes Yes Yes Yes No Yes
Must file an annual tax return? Yes Yes Yes Yes Yes Yes Yes
Must file annual financial statements? Yes Yes Yes Yes Yes No Yes
Must appoint an auditor/company inspector? Yes Yes Yes Yes Yes No No
Access to double taxation treaties? Yes Yes Yes Yes Yes No Yes
How long to supply company registration / tax numbers? 5 months 2 months 4 months 4 months 7 months 5 months 5 months
Company Registration LLC Fast business setup solution Free zone LLC Private JSC Public JSC Representative office Branch office
Resident director/partner/manager/ legal representative required? No No No No No Yes Yes
Minimum number of shareholders/partners? 2 2 2 3 5 Parent company Parent company
Shelf companies available? Yes Yes Yes Yes No No No
Time to incorporate a new entity? 3 months 2 months 3 months 4 months 6 months 4 months 4 months
Can easily convert to a PLC? Yes Yes Yes Yes Yes No No
Public register of shareholders and directors? Yes Yes Yes Yes Yes No No
Can have preference shareholders? Yes Yes Yes Yes Yes No No
Business Considerations LLC Fast business setup solution Free zone LLC Private JSC Public JSC Representative office Branch office
Good entity for trademark registration? Yes Yes Yes Yes Yes No Yes
Can secure an import and export license? Yes Yes Yes Yes Yes No Yes

Sponsorship by a local citizen required? No
Our Client needs to travel to Iran for business set up? No
Temporary physical office solutions available? Yes
You need a local resident as bank signatory? Yes
Can be wholly foreign owned? Depending on the business activity
The entity will likely be regulated by? Companies Registration General Office (CRO)
Quarterly VAT reporting to the Government? Yes
Must sign an office lease agreement during incorporation? No
Shareholders & directors documents to be attested/translated? Yes
Each foreign director needs a personal income tax number? Yes
Foreign director needs a residence visa? Yes, to be appointed as bank signatory
Maximum number of staff allowed? No maximum number for any entity
Expatriate to local staff ratio? 3:1
Can secure residence visa for business owner? Yes
Other useful information
What will be included in my customer sales invoice? Click link
This country has signed free trade agreements? Yes
This country is a member of WIPO/TRIPS? Yes/No
This country is a member of the ICSID? No
Average custom duties suffered? Rate
Government foreign investment approval required? Yes
Average monthly office rental? (US$ per sq m) 25
Minimum statutory monthly salary? US$280
Average monthly US$ salary for local skilled employees? US$1,160
US$ deposit interest rate? (1 year average) 16.9%
Overseas remittance currency controls? Yes
Banking considerations
Multi-currency bank accounts available? No
Corporate visa debit cards available? Yes
Quality of e-banking platform? Satisfactory
Crowd funding available in this country? Yes
Government approval required for foreign owners? Yes
Withholding tax on payments to foreign shareholders? 0%

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For additional information on our company registration services in Iran, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi