Official Name: The Islamic Republic of Iran
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The Islamic Republic of Iran is located in southwest Asia and is one of the Middle Eastern countries. The country covers an area of 1648195 square kilometers and is bordered by Armenia, Azerbaijan, Turkmenistan to the north, Afghanistan and Pakistan to the east, Iraq and Turkey to the west and northwest, respectively, and the Oman Sea and the Persian Gulf to the south. Arab countries such as Kuwait, Qatar, Bahrain, UAE share blue borders. Iran is in the heart of the Middle East and the only country that, despite its large size and population, has rich hydrocarbon resources and has had an independent state since ancient times.
What is the exact cost of registering a company?
The cost of registering a company depends precisely on issues such as the amount of registered capital of the company, short or long the subject of the company, whether or not the subject of the company is licensed and things like that.
How long does it take to register a company from the first step to the last step?
It takes between 1 to 2 days to determine the name of the company, and after the documents are signed by the shareholders and partners and the documents are sent to the Companies Registration Office, it takes about 5 to 7 working days for the company to be registered. Of course, there are some important issues that affect the timing of a company registration.
What are the most important tasks after registering a company?
After registering the company, you have to pay and receive the official newspaper and widely circulated newspaper. Seal offices every year. Get the economic code and also complete and submit the tax return every year.
Is it better to register a private joint stock company or a limited liability company?
The choice of the type of company largely depends on the desire and choice of shareholders and partners of the company and also depends on the conditions of the applicants.
The benefits of company registration in Iran
- Access to oil and gas and petrochemical producers
- Cheap specialist workforce
- Very low taxes
- High government incentives for entrepreneurship and employment
- Opportunity to participate in government tenders and auctions
The disadvantage of company registration in Iran
- Price instability in the country now
- Impossibility of easy banking exchange now
- Failure to establish a credit payment system with other countries in the world at present
Types of companies in Iran:
Limited liability company
A limited liability company is a type of commercial company that can be registered with at least 2 people.
Private joint stock company
A special joint stock company is another type of commercial company. To register a special joint stock company, the minimum number of members is 3. The minimum capital to register this type of company is $ 5 to $ 100. It is mandatory to have 2 inspectors in a special joint stock company. The presence of each of the positions of CEO, Chairman of the Board and Vice Chairman in a special joint stock company is mandatory. Construction companies, municipalities that usually participate in auctions and tenders, choose a special joint stock company. The board of directors of a special joint stock company is 2 solar years and the inspectors are 1 tax year, and after expiration they must be renewed or replaced (ie a total of at least 3 members and 2 inspectors are required to register a special joint stock company).
Danesh Bonyan Company (Knowledge-based company)
Knowledge-based companies are companies that can make money through the sale of technology (services).
Generally, a special joint stock company is more suitable for registering a knowledge-based company. The members of the knowledge-based company should be arranged as follows: At least two members of the board of directors must have a master’s degree or patent or be a member of the university faculty. Danesh Bonyan Company is exempt from paying taxes, duties and customs for 15 years.
The goals of Danesh Bonyan Company are to attract and turn ideas into sustainable products and jobs, commercialize research findings, support and guide them to profitability and produce superior technologies.
It is a company that is formed under a special name to do business between two or more people with joint liability, so that if the company’s assets are not enough to pay the debts and obligations of the company, each member of the company is solely responsible for paying all debts and obligations of the company. In front of third parties.
Non-joint stock company
It is a company that is formed to do business under a special name between one or more guarantor partners and one or more limited liability partners without issuing shares.
Joint Stock Company
It is a company that is formed under a special name between a number of joint stock partners and one or more guarantor partners.
It is a company that is formed between two or more people to do business under a special name and the responsibility of each partner is the amount of their capital in the company.
Production and consumption cooperative company
It is a company that is formed for the seven purposes stated in the law of the cooperative sector with the word cooperative, and in order to form it, at least 7 people with Iranian citizenship must be.
The company registration process
The following steps must be taken to register a private limited company:
- Determining the subject of the company’s activity
- Appointing the members of the board of directors of a special joint stock company
- Appoint two people for the position of inspectors
- Appointment of board members and signature holders
- Determining the address of the company’s place of activity
- Determining the amount of capital of a special joint stock company and the capital share of each member
- Preparation of documents and delivery to the registration company
- Receive the letter of introduction for not having a bad record from the registration company and refer to the +10 police offices, and after receiving the bad background certificate, deliver it to the registering company within a week.
- Referral of registration documents of a special joint stock company along with the names of three floods to the Companies Registration Office by the company registration complex
One of the approved names will be notified to the client collection (company registrar)
- Delivery of letter of introduction for opening a private joint stock company account to the bank. At this stage, the representative refers to the bank with a letter of introduction and opens the account in the name of the company on the eve of establishment with the approved name of the Companies Registration Office, which must deposit at least 35% of the capital to the account and then the certificate Receive a deposit from the bank and deliver it to the registration company.
- The bank certificate is delivered to the Companies Registration Office and after review, if there is no defect in the documents, it is confirmed.
After approval, the documents will be delivered to the representative for final approval and signature of the board of directors
- Documents signed by the board of directors along with other documents of the company registration file are delivered to the Companies Registration Office.
- After confirming the documents, the registration number and the announcement of the establishment of the registered special joint stock company will be issued.
- After registering a special joint stock company for a period of about 15 to 30 days, the final certificate of company registration (official newspaper) is issued.
Documents required to register a limited liability company:
- Two signed sheets of the company application form
- Two signed sheets of the company letter of incorporation
- Two signed copies of the company’s articles of association
- Original license issued by a competent authority (if the subject of the company is a license)
- Two signed copies of the minutes of the general assembly of the founders of the company and the minutes of the board of directors
- The power of attorney of the lawyer (if you decide that the lawyer to refer to the Companies Registration Office on your behalf)
- Commitment letter of all board members stating that they have no criminal record and no legal restrictions for membership in the board of directors, as well as accepting a position on the company’s board of directors.
The company’s activities in Iran are divided into 4 categories:
A) Issues that are not registrable by the general public and activities in these matters are the prerogative of the governmental and public institutions and institutions and the government.
B) Subjects that need to obtain a license from the relevant ministry, organization or institution before registration, and the original of this license must be sent to the Companies Registration Office.
C) Subjects that do not require a license for registration, but after the registration of the company and for the activity need to obtain a license from the relevant ministry, organization or institution.
D) Subjects that do not require special permission either at the time of registration or afterwards.
Since choosing the subject of the company’s activity is a specialized issue, we recommend that you consult with the registration experts of a well-known law firm before any action.