Islamic Republic of Iran company registration

DOING BUSINESS IN ISLAMIC REPUBLIC OF IRAN IN 2023

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

See full table

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%

Tell us what you need - we’ll send you a customised proposal in 5 hours!

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Company purpose?
Will the LLC be a trading company or a holding company?
Will the entity be a subsidiary of a foreign company?
The LLC will be tax resident? Having local customers and local staff and local suppliers?
The entity will receive investment income or professional services fees or sales from trading with multi-national customers?
Is double taxation treaty access important?
Do you need our help to legally minimize your international tax obligations?
Do you need our help to increase e-commerce sales (click link)?
Company structure?
Will the shareholders be individuals or corporate?

In what country do you require a corporate bank account? Refer to this web page (click link) for ideas

Do you need multi-currency corporate visa debit cards?

Do you need a resident director?

Nationality of shareholders and directors?
Expected annual sales and net profits?
Does the entity need a special regulatory license or import or export license?
Additional comments?
Tell us about your existing business?
Name of your existing company?
Your business web site address?
What products and services does your company supply?
How many years are you operating this business?
Is your Firm regulated by a Government agency?
In what country are the majority of your customers?

In what country are the majority of your suppliers?
Tell us about you?
Your name?
Your email address?
What country are you based in?

Specifically, what deliverables (click link) do you need?
What is your US$ budget for the services you need?
What does quality customer service mean to you?
How do we contact you?
For now, do you prefer Healy Consultants PLC staff to phone you, or just email reply you with some corporate solutions?
If a phone call, on what number can our senior Consultant call you?
If an email, what email address can our Consultant email you at?
What alternative email address can our Consultant email you at?
What is your preferred date and time for a phone call?
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What matters would you like to discuss during the call; the agenda?

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DOING BUSINESS IN ISLAMIC REPUBLIC OF IRAN IN 2023

Tell us what you need - we’ll send you a customised proposal in 5 hours!

Company purpose?

Company structure?

Tell us about your existing business?

Tell us about you?

How do we contact you?

Useful links for Iran

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