Real Estate

Farama & Co offers market-leading advice across a range of practice areas where real estate is at the center of the transaction. Relied on by developers, owners, private and institutional investors, corporates, lenders and underwriters around the world to understand industry trends and their impact on

business in Iran, we assist them to navigate the complexities of the markets in which they currently or plan to operate. Clients trust us to manage the intricacies of their transactions and disputes, synthesizing legal and commercial knowledge to provide them with counsel that translates into successful outcomes.

The attorneys in the Practice Group have a balanced understanding of development, zoning, land use and environmental concerns. This unique perspective enables the firm to facilitate the grant of the numerous approvals required to develop Iran real estate. The Practice Group acts as liaison-- facilitating communication between client, engineer, architect, and the relevant state, county and municipal regulatory agencies. We provide legal support to our clients in their relations with construction contractors and governmental authorities throughout the execution of investment contracts. We help resolve difficult land-related issues and, if necessary, represent our clients in courts.
Our services:

• due diligence and support for transactions involving real estate and properties;
• structuring and support of greenfield and brownfield projects;
• dealing with non-customary land issues, including registration of rights to land plots created as a result of land reclamation;
• development and support of comprehensive real estate construction contracts
also Farama & Co deals with a variety of legal issues, including:

    -legal audit of private and public real estate developments
    -presentation and advice relating to public procurement matters
    -structuring asset deals
    -private partnerships
  -investigation into industrial operations on all aspects of environment and planning in order to improve legal compliance
     -acquisition of property
     -building code and regulation
     -design, architecture, and engineering proceedings
     -land use, environmental permitting and compliance
     -subsidies and permit applications
     -financing, funding and banking
     -contract draft formation and administration
      -dispute resolution, arbitration, and mediation
      -labor and employment negotiation
      -landlord / tenant
      -retail and office lease agreements
      -mortgage matters

Please contact us: Mr. Vandad Arian
[email protected]


What the forms of foreign capitalbase on Iranian Law?

Foreign capital forms are very variable in accordance with foreign investment law and in addition to the cash capital, any non-cash forms including machinery, facilities, parts, raw materials, technical know-how and specialized services are included in them (for more information, please check article 2 of Executive By-law for Protecting Foreign Currency Investments).

Are all foreign currencies are acceptable in Iran for importing cash capital?

Only those currencies which are acceptable by the Central Bank of the Islamic Republic of Iran are acceptable currencies.

How does the cash capital arrive/is imported/ to Iran?

The foreign cash capital arrives the country via bank system and/or official channels which are approved by the Central Bank. Obviously, foreign currency arrived to the country should be among the foreign currencies acceptable by the Central Bank.

Does the foreign currency cash require to be converted into Rial currency?

That part of the foreign currency cash which according to the investor’s discretion needs to be converted into Rial currency will be bought by the foreign currency recipient bank in current rate and the Rials equivalent will be remitted to the account of the joint company or the investee economic business firm.

Is foreign investor allowed to keep the imported foreign currency cash without converting it and use it for paying the price of foreign orders for the investment plan?

Cash foreign currency could be converted into Rials currency or can be kept in the foreign currency account of the joint company or the investee’s firm; and by supervision of Investment Organization, it can be used for paying the foreign orders price or other necessary expenses of the project with no changes. Keeping capital in foreign currency not only saves the investor from fluctuations of exchange rate, but also, makes it possible for it to use it at its discretion in suitable time.

What exchange rate is used for converting the foreign currency imported to Iran?

The calculation rate for cash capital of foreign investors is the current exchange rate in official money market of the country and/or free market rate at the discretion of central bank.

Does the foreign capital need undergoing appraisal for due assessments?

Yes, appraising the value of foreign capital, whether in cash or non-cash capital form is mandatory. For cash and non-cash capital, the exchange rate on the arrival date will be basis of evaluation.

What are the formalities for importing machineries, facilities, parts and raw materials (non-cash capital)?

Essentially, non-cash capital import for foreign investment does not need meeting formalities for trades cargoes import and only, at the proposal of Investment Organization, non-cash items of any nature which have been already undergone statistics order registry at the Ministry of Commerce based on the approved list could be imported to the country directly.

Does it mean importing non-cash capital needs no certificate of non-manufacturing, foreign currency allocation and L/C opening?

It is true; importing non-cash capital needs no certificate of non-manufacturing, foreign currency allocation and L/C opening.

Does non-cash foreign capital import require any specific payments?

Foreign non-cash capitals, excluding production line machineries for industrial and mining plans, like other imported goods are subject of import duty payment.

What measures should be observed on importing technical know-how?

The technical know-how and specialized services have been recognized as acceptable form of foreign capitals and will be registered as non-cash foreign capital after due appraisals. Of course, before technical know-how arrival, the opinion of the relevant ministry should be received as well.

Is it authorized to pay license or royalty rights?

Yes, in the events when technical know-how is not supposed to be accounted for as foreign capital, the relevant fund and/or the approved royalty could be paid to the technology provider.

What are the acceptable measures for paying license or royalty to foreign parties?

In any payment method, the raw materials imported should be engaged in calculating royalty and license fee and the net amount will be payable to the licenser after deducting the value of imported materials. In another word, based on current policy, payment of royalty and license will be calculated based on local value added.

Is it possible to register the patent and trading marks?

The industrial and intellectual ownership right, including patent, trademark, trade names, etc. will be registered and protected by law based on Patents of Trademarks and Inventions.

Is presenting the list of non-cash capitals is necessary before taking any actions?

Yes, before attempt to import the capital, foreign investor should submit to the Investment Organization the information including technical specifications, manufacturer’s name, manufacturing year and the price along with the relevant catalogues. When the list is approved, the non-cash capital can be imported to the country without any specific formalities as per the investor’s discretion in one or more parties.

Does technical knowledge import require previous studies?

Contracts of technical knowledge and specialized services, whether arrived to the country as capital, whether there is supposed to receive payments for them should be submitted to the Investment Organization along foreign investment application. The Investment Organization will perform necessary consultation with relevant ministries on the necessity of receiving technical know-how and its price.

Mr. Alireza Kamkar

Office Tel: +98 9121023022
Email: [email protected]

Bar Admissions
Tehran University, Faculty of Law 
Shahid Beheshti University, Faculty of Law 
LLM, International Trade
Tehran University, Faculty of Law 
Professional Associations and Memberships
Member of Iranian Bar Association 
Farsi, English

          Tel: +989121023022