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1- In order to encourage foreign investment
and free movement of capital , Free Zones
Management Act was approved on 12th
September 1993. The relevant regulation on
investment in the areas were approved by the
cabinet on 6th June 1994.
2- The Free Zone areas were parts of Kish
Island, Qeshm Island and Chah-Bahar. Later
on other areas within the main land Iran
were also designated as Free Zones , such as
Bandar Anzali , Abadan-Khoramshahr and Jolfa
.
3- All activities carried out by persons, be
it real or judicial or Iranian or
non-Iranian are exempt from income tax for a
period of fifteen years.
4- Protection of foreign investment in each
area will be in accordance with regulations
to be determined by the management of the
area. At any one time each area may have
different procedures and regulation in this
respect.
5- Foreign nationals can lease land in free
zone areas but sales of land to such
applicants are not permitted.
6- Generally there is no limit set for
foreign investment and an entity based in
the area could, theoretically, be wholly
owned by foreign investors.
7- Application for transfer of capital
should be made to the relevant authority and
the procedures followed in processing the
application are similar to those provided in
the Foreign Investment Act.
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