Incorporation of petroleum companies in Iran for foreigners
Incorporation of petroleum companies in Iran for foreigners is quite feasible and straightforward. If you are interested in upstream industries in the oil and gas fields, you have to get the special permit from the Ministry of Petroleum. Petroleum companies in Iran are required to take the form of either limited liability companies (LLC) or private equity firms. necessary certificates for registering a company in Iran doesn’t go astray from those necessary for other corporations, plus relevant permits.
General Outlook for Oil and Gas Companies in Iran
Manners of incorporation and necessary certificates of petroleum companies in Iran is in no way a daunting task. In spite of what has been streamed on some fora, one is not forced to disclose plenty of information in order to set up a top-notch company in Iran. However, and as you already know, starting an oil company is much more demanding in comparison with any other ground, but if you ask veteran oilmen whether the candy deserves the hard job, they may nod at you in the affirmative: “sixpence worth of heaven”.
In recent years, as Republicans tightened the screws on Iran, alternative ways of financing replaced the traditional investment platform. In early 2019, Iran began to supply oil stocks in Iran Energy Exchange, in hopes of shifting the burden of finding international customers to private sector. Later on, “Act of development of downstream industries of crude oil and natural-gas condensate by the means of public investment”, followed by an executive regulation, defined a new pattern for distributing and financing projects. Now in the post-Trump era, the oil industry hopes to recover and bounce back to the arena. Visionary thinking, the Iranian market networks are about to unravel and gates get widely open.
Incorporation of Petroleum Companies by Foreign Nationals in Iran: Legality and Legitimacy
Based on the surface of Principle 81 of the Constitution, one could say incorporation of almost all sorts of companies by foreign nationals is prohibited. As time went by, this concrete rule was modified through regulations and practice and now, a foreigner can take 100% ownership over an Iranian company. The only viable interpretation of the Principle now is to say the rule trained on the notorious long-term agreements known as “concessions” which are surrounded by historical sensitivity. So, it’s quite possible for foreigners to incorporate entities in Iran, especially for the purpose of petroleum operations.
Click on the link below to read more:
Comments
Post a Comment