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                                Kish Trade Promotion Center 

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Necessary documents for registration  of branch or representative office of the foreign companies or institutes

 

 

 

 

 

Privileges For Investment at Kish Island

 

 

        Investment Incentives in the KFZ:

 

  1. 15  years  tax-exemption for  entities economic activity license.

  2. There is no entry visa requirement for foreign nationals.

  3. 100%  foreign ownership permitted.

  4. Legal guarantee and protection extended to foreign investment.

  5. No restriction on investment in various field for entities holding economic activity license.

  6. No limitations on transfer of  foreign currency  to other Iranian Free Zones or to  other countries

  7. More Flexible  monetary  and  banking  services.

  8. Efficient,  fast  and  board rang of services provides by state/private banks and insurance companies.

  9. Easy foreign exchange transactions at rates determined on the basis of supply and demand at the Zones banks and the Central Bank's  announcement.

  10. Exemption from customs duty on primary materials and industrial machinery imported for the manufacturing units operating on the Island.

  11. Simplified and smooth registration of companies, industrial establishments, cultural institutes and intellectual property ownership.

  12. Low cost and simple procedure of re-exportation of goods.

  13. Smooth regulation for the lawful entry of all goods based on the customs duty tables.

  14. Ability to export goods produced within the Kish Island into the mainland Iran based on the value added scheme.

  15. Sale/Lease of land to Iranians and Lease of land to non-Iranians.

  16. Simple Labour law regulations and requirements.

 

Documents Required for Commercial Activity: 

 

I - Registration of the company with the registry office of the Zone (for legal entities).

II - Economic activity License.

III - Commercial Card.

 

 

I - Obtaining "Economic Activity License"

 

Engaging in any kind of economic activity in the KFZ requires an economic license issued by the Commercial Dept. of the KFZO. The license is valid for one year and issued after the payment of all charges depending on the type of the activity.

Documents Required for the Economic Activity License:

1- Copy of the contract concluded for the purchase or lease of the place of business or the respective title deed.

2- A letter of consent from partners with respect to the issuance of the economic activity license in the name of one of them.

3- Copy of the applicant's ID (in the case of legal entities, copy of the managing director's ID). In the case of foreign nationals, copy of valid passport.

4- Two photographs (sized 3*4 cm) of the applicant in respect of natural persons.

5- Certificate of completion of construction or valid compliance certificate.

6- Certificate issued by the public places Department of the police in response to the respective inquiry.

7- A letter pf introduction issued by the respective trade guild certifying the eligibility of the applicant in respect of services, commercial , tourism and restaurant units.

8- Confirmation by the responsible departments in respect of industrial, tourism, services, cultural and transportation activites.

 

Upon submission of the above documents, different types of economic activity licenses are issued, as follows:

- Commercial economic activity license

- Service economic activity license

- Tourist economic activity license 

- Contractor economic activity license

- Industrial economic activity license

 

 

II- Obtaining Commercial Card

 

In order to import and export in Kish Free Zone obtaining a " Commercial Card" from " Trade Promotion Center" is a must.

The Card is issued annually upon receipt of related fee based on " Economic Activity License".

 

 

Types of Commercial Cards:

 

1- Trade Card: for import and export of commercial goods

2- Industrial Card : for industrial activities , import of raw materials and machinery

3- Services Card: for all services activities, import of consumable goods from mainland or abroad.

 

 The necessary documents:

 

1- The Original and copy of "Economic Activity License" and one passport size photo

2- Bank receipt for Commercial Card fee

 

 

III - Company Registration

 

Documents required for registering  Limited Liability Company:

1- Two copies of  Memorandum of Association filled out and signed by all partners.

2 - Two copies of application form filled out and signed by all  partners on all pages.

3 - Two copies of  Articles of Association signed by all partners on all pages.

4 - Two copies of  Minutes of Meeting of the Founding Assembly  signed by all partners and directors.

5 - Copy of the first page of the identification card for all partners and directors (if the applicant is a legal entity, copy of the notice published in the official gazette and the representation document should be submitted instead of the copy of the ID card).

6 - Where all or a part of the company capital is in non-cash form , an appraisal report should be necessarily submitted.

7 - Copy of the economic activity license issued by the Commercial Dept. in the name of the company.

8 - Payment of fees relating to the company registration and publication  of notice.

9 - Legalization of commercial books (one general ledger plus one journal) after the company is registered.

 

Document Required  for Registration of  Joint Stock Company :

1- Two  Copies of Declaration form filled out and  signed by all shareholders

2-Two copies of Memorandum of Association filled out and signed by all partners on all pages.

3- Two copies of Minutes of Meeting of the Founding  Assembly signed by all shareholders and  inspectors

4- Two copies of the minutes of the  first Meeting of the Board of Directors  signed by all directors.

5- Copy of the first page of the identification card for all directories, shareholders & inspectors (if the applicant is a legal entity, copy of the notice published in the official gazette and the representation document should be submitted instead of the copy of the ID).

6- A letter from one of the banks operating  in Kish Island certifying that at lease 35% of the capital has been paid.

7- Report by an official expert of the Ministry of Justice appraising the non-cash segment of the capital, where all or a part of the company capital is in non-cash form.

8- Copy of the economic activity license issued by the Commercial Management in the name of the company.

9- Payment of fees relating to the company registration and publication of notice.

10- Legalization of commercial books (one general ledger plus one journal) after the company is registered.

 

Important Notice :

Before completing the documentation, the applicant should obtain the approval of the Zone's Company Registration Office with respect to the company's proposed name and field of activity. All documents should be typed or clearly handwritten in a legible manner.

 

 

 

Procedures for Investment

 

 

1- Filling written application by the investor.

Investment & Marketing Dept.               

 ( Economic & Investment Division)

2- Submission and review of the technical-economic project proposal. Investment & Marketing
3-Evaluation of the project proposal by the economic commission and appraisal of the land. Economic & Investment Division.

4-Issuance of the land plan when the project is approved by the economic commission. 

Geographic Information Dept.

5- Transfer of the land to the Kish Investment & Development Company.

Economic & Investment Division
6-Conclusion of a land transfer contract between the Kish Investment & Development Company and the investor.  Kish Investment & Development Company

7- Signing the contract by the investor and completion of the financial procedures. 

Kish Investment & Development Company
8-Communication of the contract to the investor.  Kish Investment & Development Company
9-Delivery of the land.

Geographic Information Dept. (Development Division) and Surveying (Urban Development & Services Company)

10-Issuance of construction permit after the blueprints submitted by the investor are approved. Urban Development Dept.
11-supervision over the implementation and progress of the project. Urban Development Dept.
12-Issuance of completion certificate after the construction works are over. Urban Development Dept.
13-Issuance of the title deed once the project becomes operative. Legal Dept.

 

 

 

 

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002