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Free Trade - Industrial Zones
| Information presented in this booklet is intended for general use and may change without prior notice. For up-to-date and detailed data, please consult your legal adviser . |
| All rights reserved by the author. |
| First edition 1998 |
| Published by : |
| IRAN CHAMBER OF COMMERCE OF, INDUSTRIES AND MINES |
| As reflected in its preface, the Law on the manner of Administration of the Free Trade-industrial Zones was passed for the express purpose of facilitating comprehensive, sustainable social and economic development . The legislation foresees the accomplishment of infrastructural requirements, boosting social development and generally promoting qualitative and quantitative economic growth. The law encourages foreign and domestic investment; International banking participation; high technology industrialization and promotes an active presence for the Free Zones in global and regional markets. The three Free Trade-Industrial Zones are the islands of Kish and Qeshm in the Persian Gulf and Port chahbahar on the southern border of the Islamic Republic of Iran . |
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Which rules govern the economic activities in the Free Zones ? |
| The provision of the law on the manner of Administration of the Free Trade-industrial Zones and the relevant decrees of the Council of Ministers are the primary legal sources for regulating economic activities and enterprises in the Free Zones. |
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Is there any independent authority for administering the Zones ? |
| Yes there is. Each
Free Zone is administered by its own Authority and is administered by its
own Authority and is organized as a company, with an autonomous legal status.
The company's capital belongs to the government of the Islamic Republic
of Iran. Issuance of permits for all manner of authorized economic activities,
construction of buildings and installation and undertaking various occupations
by natural and legal persons, within the boundaries of a Free Zone, rests
solely with the respective authority . The Authorities are empowered to
implement all regulations pertaining to the establishment of production
units, importation and exportation of goods, employment of manpower, social
security and insurance, issuance of entry visas to foreign nationals, and
the like.
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What are the conditions for buying and leasing properties in the Free Zones ? |
| The utilization
of land and national resources belonging to the government within the Free
Zones and the sale or lease of properties to Iranian nationals, whether
natural persons or companies, are determined by each Authority according
to the respective regulations. As for private ownership of Iranian nationals
residing in the Free Zones, they shall enjoy the same rights of ownership
of land and properties that prevail in the rest of the country . Renting
of land to foreign nationals is permitted . However, the sale of land to
foreigners or to companies whose capital is wholly partially owned by foreigners,
is prohibited .
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