Iran Business Guidebook
In this part we try to make you familiar with starting a business in Iran so first we show you a summary of registration procedure of new firm with estimating time and cost.
First all company founders and directors should obtain a criminal record clearance by the agency of police electronic service centers this document takes averagely 5 days. The Cost of every criminal record clearance is estimated 50.000 IRR. After that you should reserve a unique name for your company may be it takes 3 days and pay 40.000 IRR for name and research, then register the company at the registration office and pay 375.000 IRR for registration.
The company must submit these documents for registration:
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
– Bank certificate, showing that at least 35% of all shares have been paid in
– Minutes of the shareholders’ meeting, reflecting the election of the first directors and inspector(s)
– 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. In addition, an electronic payment system is conducted with a card and a machine is used to pay registration fees.
After named and registration you should notice company formation in the official gazette the cost of this step is estimated 140.000 IRR then choose a newspaper of general circulation and pay 240.000 IRR for that.
Next, Retrieve the officially sealed books of account within 30 days of registration from Authorized Vendor, this step takes 1 day and costs depends on the number of pages of the official sealed books of account.
After that the stamp duty must be paid within 60 days of company registration. It is paid at Bank Melli Iran because it is an official government duty it costs 0.2% of the par value of the subscribed share capital and take 1 day.
Then Enroll workers in the social security program at the Iranian Labor Department and obtain a workplace number.