Iran`s govt approves new foreign investment attraction plan

TEHRAN, Iran, Apr. 4 Iran`s Minister of Economy Ehsan Khandouzi announced the approval of the Ministry’s institutional structure and strategy for attracting. FDI (Foreign Direct Investment), especially from neighboring countries, Trend reports citing IRNA. Pointing to the incentives to attract proactive investment, Ehsan Khandouzi announced two ways to develop an enhanced foreign investment attraction strateg. He proposed reduction of the minimum capital requirements as initial investment and increasing the number of years of residence permits for foreign nationals making investments in the country. The Iranian government on Jul 1, 2019 approved a by-law that grants five-year residency to foreign investors in line with the strategy to encourage foreign investment. According to the previous strategy, Investors could get a five-year residency permit if they invest at least €250,000.