Iranian and Foreign JV Companies Considered Sole Beneficiaries for Receiving Bank Facilities
Nourlaw.com-Tehran-17 January 2017- All the companies formed in Iran in partnership between Iranians and foreigners, wherein the foreign investment is not less than 50%, shall be considered a sole beneficiary for a maximum of three years with respect to undertaking responsibility and receiving facilities from Iranian banks, provided the share of the foreign partner remains at least 50%. during the stated period of time. The ruling was published in the circular letter No. 95/343157 dated 28/10/1395 (17 January 2017) of the Central Bank of the Islamic Republic of Iran (CBI).
According to the letter, notified to all Iranian governmental and private banks and non-banking institutes, the decision was made to promote foreign investment for coping with the current economic stagnation.