Remarkable Foreign Investment Made to Expand Iran’s Oil, Gas Output
Estimated to hold eight percent of the world’s total gas reserves and almost 50% of Iran’s domestic gas reserves, South Pars is considered to be the world’s biggest gas field by reserves. The South Pars gas field commenced production in 2002 and continues to be developed in multiple phases by the Pars Oil and Gas […]
Investment in South Pars Projects Surges to $1.2 Billion
Estimated to hold eight percent of the world’s total gas reserves and almost 50% of Iran’s domestic gas reserves, South Pars is considered to be the world’s biggest gas field by reserves. The South Pars gas field commenced production in 2002 and continues to be developed in multiple phases by the Pars Oil and Gas […]
Economic Cooperation among Persian Gulf States Expand
Ties across the Persian Gulf reflect political and economic rivalries, deep ethnic and family linkages, significant investment and trade relations and, in particular, the reality of shared maritime boundaries. Iran traded 8.84 million tons of goods worth $5.14 billion with six Persian Gulf littoral states, namely Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia, during the first two months […]
Great Investment Leads to Construction of Largest Middle East Solar Factory in Iran
The executive operation of constructing the largest Iranian factory to manufacture solar cells has started in Mahan County, Kerman Province, the representative of Kerman and Ravar in the parliament said. “The first phase of the project will cost more than $500 million and the investment will increase by up to $850 million for the next […]
Foreign Investment Promotion and Protection Act
The Foreign Investment Promotion and Protection Act (“FIPPA”) which has been ratified by the Parliament of Iran as a law around two decades ago in 2002 in order to encourage the foreign investors to bring their capitals to the Iranian market. FIPPA has a good range of incentives and facilities as the governmental offers to the investors. […]
Litigation and Court Procedure in Iran
Dispute Settlement Councils The civil courts in Iran shall be divided into four different levels, the Dispute Settlement Councils which are established to hear the minor issues merely between private individuals (and not the governmental entities). The Dispute Settlement Councils are competent for the claims not over IRR 200.000.000. The following items are the most common issues which have been […]
Tax in Iran
Many companies are unaware of the tax system in Iran. In addition to the sources which are mainly in Persian, there are a low number of experts who have both the experience and communication skills in order to assist prospecting companies to understand the matter. However, understanding the tax system in a new country is […]
Import and Export Laws in Iran
The Law on Import and Export Regulations ratified on September 26th, 1993, should be considered as the principal source of export and import law in Iran. According to the Iranian law, there are three types of goods, in light of the export and import as follows: The goods and commodities which their import or export is allowable and admissible even […]
What You Need to Know About Types of Companies in Iran
Company law in Iran is a well-developed branch which has been articulated in detail in the Code of Commercial Law (hereinafter, the Code). There are seven kinds of distinct forms of companies according to the article 20 of the Code and thereby are distinguished from the civil partnership which is more casual and less demanding in terms of formality and […]
