Iran free zones
- The Iranian Government operates 6 free trade zones and 16 special economic zones in the country, the most prominent being: i) Kish Free Trade Zone ii) Qeshm Free Trade Zone and iii) Chabahar free trade industrial zone;
- Investment in the Iranian free zones will offer our Clients i) 100% corporate tax exemption for 20 years ii) no visa requirement for entry into the zones iii) exemption from custom duties on exported raw materials, semi-finished goods and machinery and iv) possibility of land purchase for foreigners inside the zones;
- Healy Consultants will assist our Clients incorporate an Iranian company and then, apply for a permit to operate in the free zone of Client’s choice. For more information about incorporating a company in Iran, please click refer to the attached webpage.
| Free zone comparison | Kish Free Trade Zone | Qeshm Free Trade Zone | Chabahar Free Trade Industrial Zone |
|---|---|---|---|
| FTZs used mostly for what purpose? | Wholesale Trade | Tourism | Construction |
| Average annual Industrial space rent per 1000 sq. m. | US$5,000 | US$10,000 | US$10,000 |
| How long to set the company up? | 2 months | 2 months | 2 months |
| How long to open company bank account? | 3 weeks | 3 weeks | 3 weeks |
| Quality of utilities | Satisfactory | Satisfactory | Satisfactory |
| Allowed to sign sales contracts with local Clients? | Yes | Yes | Yes |
| Allowed to invoice local Clients? | Yes | Yes | Yes |
| Corporate tax payable in Iran | 0% | 0% | 0% |
| Corporate bank account | Bank Melli Iran | Bank Sepah | Bank Saderat Iran |
| Physical office space required | Yes | Yes | Yes |
| Allowed to import raw materials? | Yes | Yes | Yes |
| Allowed to export goods? | Yes | Yes | Yes |
| Can be wholly foreign owned | Yes | Yes | Yes |
| Can the entity hire expatriate staff in Iran? | Yes | Yes | Yes |
| Minimum number of directors | 1 | 1 | 1 |
| Minimum number of shareholders | 2 | 2 | 2 |
| Individual shareholders allowed | Yes | Yes | Yes |
| Corporate shareholders allowed | Yes | Yes | Yes |
| Corporate director(s) allowed | No | No | No |
| Public register of shareholders and directors | Yes | Yes | Yes |
| LLC company allowed? | Yes | Yes | Yes |
| Annual audited financial statements | Yes | Yes | Yes |
