Published
Sep 4, 2023
Updates:
Dec 3, 2024
Iran
The country is under sanctions by the United Nation’s Security Council and/or the UK Government. Currently B2B Hub is not providing legal and financial services for the present country.
Price:
Delivery:
Legal forms:
Payment methods:
4 weeks
Inc., LLC., Ltd.
Document checklist:
Requirements:
Iran
$
3000
Location
Capital
Official languages
Population
Currency
ISO 4217
Tehran
Iran
Persian
89,172,767
IRR
Iranian Rial
Delivery
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Certificate of incorporation
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Articles of association
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Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Iran
Here are some FAQs related to company formation in Iran:
Q: What are the types of companies that can be established in Iran?
A: There are several types of companies that can be established in Iran, including Limited Liability Company (LLC), Joint Stock Company (JSC), General Partnership (GP), and Joint Venture (JV) Company.
Q: What is the minimum capital required to establish a company in Iran?
A: The minimum capital required to establish a company in Iran varies depending on the type of company. For example, the minimum capital for an LLC is IRR 1 billion (approximately USD 10,000), while for a JSC, it is IRR 5 billion (approximately USD 50,000).
Q: Can foreign nationals establish a company in Iran?
A: Yes, foreign nationals can establish a company in Iran. However, they need to obtain the necessary approvals and permits from the relevant authorities.
Q: What are the steps involved in establishing a company in Iran?
A: The steps involved in establishing a company in Iran include selecting a company name, obtaining the necessary permits and approvals, registering the company with the Companies Registration Office, and obtaining the necessary business licenses.
Q: How long does it take to establish a company in Iran?
A: The time required to establish a company in Iran can vary depending on the type of company and the specific circumstances. However, it generally takes between two to six months to establish a company in Iran.
Q: What are the tax obligations for companies in Iran?
A: Companies in Iran are subject to various taxes, including corporate income tax, value-added tax (VAT), and customs duties. The corporate income tax rate is currently 25%.
Q: What are the labor laws in Iran?
A: Labor laws in Iran cover a wide range of areas, including employment contracts, working hours, wages, and social security. Employers in Iran are required to comply with these laws and regulations.
Q: Can foreign nationals work for Iranian companies?
A: Yes, foreign nationals can work for Iranian companies. However, they need to obtain the necessary work permits and visas to work legally in Iran.
Iran has a mixed economy that is largely based on oil and gas exports. According to the World Bank, Iran's GDP in 2019 was estimated to be $424.2 billion, making it the 18th largest economy in the world. The unemployment rate in Iran was estimated to be 11.3% in 2019, while the inflation rate was estimated to be around 40.2%. Iran's main exports are crude oil, natural gas, and petroleum products, which account for around 80% of the country's total exports. Iran also exports agricultural products, carpets, and textiles. The main imports of Iran are machinery, food, and industrial raw materials. The country's main trading partners are China, the United Arab Emirates, Iraq, and India.
In Iran, both corporations and individuals are subject to income tax, value-added tax (VAT), and various other taxes and duties. Here is an overview of the tax system in Iran:
Corporate taxation:
- Corporate income tax is levied on the profits of companies at a flat rate of 25%, with certain exceptions for specific industries.
- Dividend payments made by Iranian companies to shareholders are subject to a withholding tax of 15%.
- Other taxes and duties that companies may be subject to include the social security tax, property tax, and customs duty.
Personal taxation:
- Individuals in Iran are subject to personal income tax on their worldwide income at progressive rates ranging from 10% to 35%, depending on their income level.
- Social security contributions are also deducted from employees' gross salaries at a rate of 7% for health insurance and 3% for pension contributions.
- Other taxes that individuals may be subject to include the property tax and inheritance tax.
Tax payment process and calendar:
- Iranian taxpayers are required to file their tax returns annually by the end of the seventh month following the end of the Iranian calendar year, which is March 20th.
- Companies are required to pay corporate income tax in four instalments throughout the year, with the first three instalments due by the end of the third, sixth, and ninth months of the Iranian calendar year, respectively, and the final instalment due by the end of the twelfth month of the Iranian calendar year.
- Individuals may be required to pay advance tax if their tax liability for the year exceeds a certain amount. Advance tax payments are made in four instalments throughout the year, with the first instalment due by the end of the third month of the Iranian calendar year, the second instalment due by the end of the sixth month, the third instalment due by the end of the ninth month, and the final instalment due by the end of the twelfth month.
- Late tax payments are subject to penalties and interest charges.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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