Emerging Formalities for Issuance and Management of Expatriates’ Work Permit
A new Amendment has been introduced to the executive guidelines related to employment of expatriates in Iran. According to this Amendment, certain changes need to be applied to the current procedure for registration, issuance of entry permit with frequent entrance, issuance, extension, renewal, adjustments and cancellation of expatriates’ work permit as well as re-issuing work […]
Iran to Become a Member of Shanghai Cooperation Organization (SCO)
Islamic Republic of Iran is set to become an official member to the Shanghai Cooperation Organization (SCO). Why this is a significant step? The Bill for Iran’s membership in SCO has been submitted to the Parliament (Majlis) and is awaiting ratification by the Parliament. Iran’s membership, which was announced on the latest SCO Heads of […]
Trademark Application Process in Iran (A Practical Brief)
In today’s world brand and trademarks are an integral and influential part of every business, and it will be difficult to imagine a business growing and expanding without proper registration of their brand. We previously touched upon the overall framework for registration of trademarks in Iran and briefly discussed the legal requirements for registration of […]
Trademark Protection in Iran (An Introduction)
Trademarks are an inseparable part of today’s commercial world. They are sometimes considered as identification document for products and services. Under the Iranian laws, “the exclusive right to use a Mark shall belong to the person who registers his Mark”. This principle is reflected in Article 31 of the Patents, Industrial Designs and Trademarks Registration […]
Foreign Investment in Iran; A Growing Trend
Although Iran’s economy has been under pressure since US unilateral withdrawal from JCPOA, UNCTAD’s latest report published in June 2022 shows a 6.18% growth in Foreign Direct investment in Iran throughout 2021. In its report “World Investment Report 2022”, UNCTAD anticipated even further growth in foreign investment in Iran. With this in mind, the question […]
Iranian National Tax Administration announces incentives for Knowledge-Based Enterprises (KBEs)
On June 28th, 2022, Iranian National Tax Administration (INTA) announced the tax regime stipulated under the Law on Knowledge-Based Production Surge (the “Law”) which was passed earlier by the Parliament on May 1st, 2022. This law targets facilitation of knowledge-based activities, supporting innovators and setting the scene for further investment in elite human resources. This […]
Iran Government to form a new Ministry of Commerce
Formation of Ministry of Commerce; Iran Government’s tactic to boost trade Iran’s Government and the Parliament are pursuing a plan to form a new ministry of commerce through segregation of the current ministry of “Industry, Mine and Trade”. Iran’s Parliament has introduced draft of a bill which was also agreed by the government last week. […]
Iran’s New Step toward Supporting Knowledge-based Companies
Iran’s New Step toward Supporting Knowledge-based Companies
Central Bank of Iran’s New Circular on Sales and Purchase of Foreign Currencies
On Thursday 16th June 2022, Central Bank of Iran (CBI) issued an important circular introducing new conditions for sales and purchase of foreign currency by licensed exchanged offices. This change is targeting regulating the exchange market in a more efficient manner, said CBI. This circular allows exchange offices to purchase foreign currency from all natural and legal persons […]
A note on Iran “New” Value Added Tax (VAT) of 23 May 2021
The Permanent Value Added Tax Act was approved on 23 May, 2021 and entered into effect on the 3 January, 2022. The implementation of this Act has caused changes in the Iranian tax system which aims to increase the prosperity of businesses and make taxes more effective. Prior to this, for about 13 years since September 2008, the temporary VAT Act had been implemented in Iran.
