Transferring Foreign Currency to Iran

What is the meaning of transferring foreign currency base on Iranian Law?

It refers to transferring all type of funds including funds from foreign investment activities or other finds which are transferred in form of foreign currency. Such transfers are classified into two categories:
a. Transfer of capital that includes dividend or capital interest, principal capital, capital earning or reparation for expropriation or confiscation of foreign capital.
b. other foreign currency transfers including all foreign currency transfers including those resulting from patent contracts, technical know-how, technical and engineering assistance, trademarks and logos and similar contracts.

Are there restrictions in place with regard to amounts that can be transferred?

No, legally, there are no limitations for transferrable amounts or amount that can be transferred annually.

How is foreign currency supplied for foreign currency transfers?

The foreign currency supplied for foreign investment foreign currency transfers is carried out through purchases from the banking system and based on instance can be supplied from foreign currency earned from exports or providing investment services. At any rate, the method of foreign currency supply for transferring foreign currency is stated in the investment permit.

What formalities are involved in transfers related to foreign investors?

Basically, any form of foreign currency transfer whether capital transfer or other forms is done by official request from a foreign investor or a joint company/capital absorbing agency on behalf of a foreign investor and all transfers to a foreign investor can be conducted after legal deductions.

If due to particular laws or governmental decision exporting the products of the investment plan is prohibited in Iran, how will the foreign currency for transferring the revenue and capital be supplied?

In exceptional cases where export is prohibited, the investor can sell his/her/its products in the domestic market and purchase the foreign currency from the banking system and then transfer it. Obviously, if the investor can export other authorised goods if he/she/it wishes so.

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