Establishment of Banks and credit institutions

The banks and credit institutes can be registered either by Iranian or foreign partners and capital .

• Establishment of banks and credit Institute branches in Anzali free zone is subject to offer and pre-approval of Anzali free zone organization and also issuing of establishing license by central bank of Iran and registration it in the Anzali Free Zone.

 • Establishment of banks and credit Institutes, opening of local and foreign banks and institutions branch in Anzali free zone is subject to offer and pre-approval of Anzali free zone and confirmation of Iran’s central bank and registration it in this zone.

 • Capital of banks and credit institutes can be up to hundred percent owned by foreign or Iranian or a combination of these.

 • Banks in Anzali free zone can engage in offshore banking according to their license.

• Iranian Overseas banks must do their deals exclusively with foreign currencies not Rial.

 • The banks and credit institutes can be establish as Private Joint Stock Company or Public Joint Stock Company according to trade law approved at 1968.

 • For establishment of Banks, credit in states and branches hundred percent of minimum capital should be deposited in cash in the central bank.

Current exchange agency

According to executive recipes monetary and banking operations in free trade - Industrial zones, establishment of currency exchange agency is subject to offer and pre-approval of Anzali free zone and confirmation of Iran’s central bank and registration it in this zone. Currency exchange agency are exclusively authorized to establish it as General Partnership Company and paid-in minimum capital equivalent to 20billion Rial.

Establishment of Insurance Company

Establishment of Insurance Company is subject to offer and pre-approval of Anzali free zone organization and confirmation of Iran’s central insurance company and registration it in this zone. Insurance operations in  free zones could be done in  followings ways.

 • Insurance company should operate as Joint Stock Company or Cooperative Company with participation of Iranian or foreigner real or legal shareholder that all shares are being registered in name.

 • Institution Representative and Insurance Brokerage

Other investment laws and regulations in Anzali free zone

Article 1: The following terms are used instead of detailed phrases

Mainland: Islamic Republic of Iran with exception of free trade- Industrial zones Organization: The organization of the Islamic Republic

Industrial of Iran Free Trade-Industrial Zones.

 Zone: each of trade trial free zone in the Islamic Republic of Iran

Investment: Applying capital in different forms for the economic activity in order to produce goods or provide services.

Foreign Investment: All funds and capital in Article (3) of this regulation (excluding Rials) enter to this area by Iranian nationals who live abroad.

Special profit: extra revenue earned by a company except cost for a financial period which is measured according to accounting principle.

 Article 2 : All intellectual and natural people , Iranian or foreign institutes and international organizations according to this regulations could Independently or in partnership with free zone organizations and affiliated companies or with partnership of other free zones can invest on the free zones and their accepted capital is subject to this regulation.

 Article 3: the capital of the regulations are:

 A: rails funds and exchangeable currencies in the regions (each region).

 B: Machinery, equipment, supplies and tools. Industrial property rights including patents, technical knowledge and trademarks and brand names. Land, air and water transportation vehicles related to investment.

 All or part of transferable net profit which have been earned in the free zones and added to initial capital or have been used for authorized Trade and economic activity in these regions is subject to these regulations.

Article 4: Contributed capital accepted under the following conditions shall be subject to these regulations:

A: These capitals should be used in the authorized activities in each area.

B: Total process of issuing capital investment license and registration is subject to articles 6 and 7 of these provisions.

 Article 5: Foreign investors can invest at economic activity at any proportion in each free zone.

 Article6: Investors who want to enter their capital to any one of the free zones (related to Article 2 of this Regulation) should deliver his application with a questionnaire to the Free Zone organization. Requests received in each region will be review by the same region and the investment license is issued by the same free zone.

Note 1 - The foreign investors who request for guarantee of their capital, their request will be reviewed by a committee composed of the High Council of Free Zones Secretariat, Organization of Investment and Economic Aids and Technical Assistance and Planning and Budget Organization, the license shall be issued for them by Suggestion of related Committee and approval of the majority of Ministers, members in the High Council of Free Zones,

Article 7: within the period specified in investment permit, holder of an investment permit must import into the zone a set percentage of the capital in order to commence implementation of the activities mentioned in the investment permit.

 Article 8: investors can insure amount of capital they import into the free zones.

 Article 9: the capital of foreign investors, brought into free zone is subject to Article 6 of this Provisions and shall be protected by these rules and enjoy due advantages and facilities.

Article 10: repatriation of net profits, initial capital and giants resulting from economic activities undertaken with foreign capital and foreign currency capital as well as the proceeds of sale or transfer of these types from the free zones is permitted.

 Article 11: investors can transfer their shares or share of stock to other investors with authorization of the free zone authority.

 Article 12: Transfer of funds and capital from one zone to another zone shall be subject to investment regulations of the zones from which the capital depart and in which it enters.

 Article 13: In case of foreign capital is owned by foreign governments, this capital is considered as private capital and don’t maintain diplomatic immunities.