Conversion of Companies allowed in Iran, now in effect
J.Nouraei & M.Mostafavi Law Offices – 9 March 2021-Tehran- on 8 December 2020 we reported that after years of prohibiting the conversion of commercial companies into one another (e.g., limited liability to joint stock or vice versa), Iran had decided to lift the ban. In our contact at that time, with the Companies Registry, we realized that the new regulations were being processed and were not then enforceable. Now however, and according to circular letter No. 99/190955 issued by Mr. Zabiollah Khodaeian, deputy chief of the Judiciary and head of the State Organization for Registration of Deeds and Properties, the conversion of companies is now legally in effect and interested applicants can refer online to the Companies Registry for such purpose.
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