Jahangiri calls for facilitation of granting residency to foreign investors

TEHRAN, May 31 (MNA) – In a Saturday meeting, Iranian First Vice President Es’hagh Jahangiri urged facilitation of implementation of a by-law, which grants residency to foreign investors in Iran.

"The conditions for granting residency in Iran must be competitive with other neighboring countries and attractive to foreign investors," he underlined.

One year ago, the Iranian government approved a by-law that grants a five-year residency to foreign investors in line with the strategy to encourage foreign investment.

The by-law was proposed by the Ministry of Economic Affairs and Finance (MEFA) to give incentives to foreign investors and secure forex revenues for the national economy. It was passed by the cabinet, presided by Iranian President Hassan Rouhani back in July 2019.

Accordingly, Iran grants each foreign investor a five-year residency if they invest 250,000 euros or equivalent in other currencies, accepted by the Central Bank of Iran (CBI). 

Babak Dinparast Deputy Minister of Economic Affairs and Regional Development of the Ministry of Interior announced in meid-May that groundwork has been laid for the issuance of a five-year residence permit to foreign investors and depositors investing in the country.

HJ/IRN83805049

News Code 159239

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