Procedures and Rules

  • Establishment of banks and credit institutes
  • The banks and credit institutes can be registered in Maku Free Zone by Iranian, non-Iranian capital or participation of both.
  • Bank and credit institute establishment, opening banks and credit institutes’ branches in Maku Free Zone is subject to the Organization’s suggestion, establishment permit issuance from Iran Central Bank and registering in Maku.
  • Opening representative office of Iranian & non-Iranian banks and credit institutes is subject to the organization’s approval, Office Manager’s verification by Iran Central Bank and registering in the free zone. These representative offices are not qualified to do any transactions.
  • Capital of banks and institutes, up to 100 %, can belong to Iranians, non-Iranians or a combination of both.
  • The banking units in Maku Free Zone can implement the overseas banking in accordance with their permit. The overseas banking is not allowed to do any transaction or operation in Iranian Rials (IRR). The transactions and operations of overseas banking unit should be done exclusively in foreign currency.
  • Establishment of bank or credit institute in the Free Zone as a Private or public Joint Stock Company is allowed in accordance with the Trade Act of 1968.
The least capital required in banking units of Maku free zone is as follows:
Types of institute Local banking units Overseas banking units
Bank 35,000,000,000 IRR USD 10,000,000
Credit Institute 15,000,000,000 IRR USD 5,000,000
Branch of non-Iranian’s bank or credit institute 10,000,000,000 IRR USD 3,000,000
Note: All of the above mentioned amounts should be deposited in central bank (in cash).
  • Private Joint Stock Company
  • Two completed declarations, signed by shareholders.
  • Two completed statutes, signed by shareholders.
  • Two copies of minutes of founder’s general assembly, signed by shareholders.
  • Two copies of the first meeting’s minutes signed by the board of directors.
  • A certified copy of ID card of the managers, shareholders, and inspectors (If the aforesaid are legal entities, instead of the certified copy of ID an official gazette announcement should be submitted).
  • An original bank certificate confirming the payment of a minimum of 35% of capital
  • Appraisal of non-cash assets by official expert if some or all of the capital is non-cash.
  • Paying company registration costs and getting the receipt from organization’s finance department and giving out an announcement at the end of the process.
  • Sealing the ledgers (a general ledger and a daybook ) at the end of registration process.
  • Limited Liability Company (Ltd)
  • Two completed memorandum of association, signed by partners.
  • Two completed statutes, signed by partners in all pages.
  • Two copies of the minutes of managers’ first meeting, signed by all managers.
  • Two copies of founders’ general assembly minutes, signed by partners and managers.
  • The certified copy of ID card of all the partners and managers (If the aforesaid are legal entities, instead of certified copy of ID card an official gazette announcement shall be submitted)
  • Appraisal of non-cash assets by partners if some or all the capital is non-cash.
  • Paying the company registration cost, getting a receipt from the financial department and giving out an announcement.
  • Sealing ledgers (a general ledger and a daybook) at the end of registration process.
  • A license which is received by applicant after doing investigations, studies, and completing the establishment of industrial unit’s questionnaire, and the holder proceeds by observing related standards and regulations of the operation and installation of machinery. Industrial exploitation license A license which is received by the holder of establishment license after going through the establishing, completing and launching procedures. After getting exploitation license investor should proceed to get economic activity license.
  • Process of establishing industrial unit
  • 1. Completing the application form of establishing an industrial unit
  • 2. Presenting a justification plan or completed questionnaire to industrial management
  • 3. Inspecting the plan and issuing the establishment license if the plan is justified by industrial management of organization
  • 4. Site selection and signing a land contract and submitting it
  • 5. Providing building plans, getting construction license, getting economic activity license and starting construction and completing the building
  • 6. Installing machinery and importing toll free raw material
  • 7. Trial run of factory
  • 8. Getting exploitation license in mass production phase
  • 9. Getting economic activity license
  • 10. Demanding for value added quota
  • Process of getting establishment license or general agreement
  • 1. Handing in the following documents to the industrial management:
  • Copies of identification documents of real individuals
  • Company establishment announcement accompanied with CEO identification documents for legal entities
  • A completed application form
  • Technical and economic plan
  • Copy of property documents of applicants owning property
  • Other documents or records related to the plan
  • 2. Checking the application by industrial management
  • 3. Presenting the plan in economic commission
  • 4. Announcing the result to the applicant
  • 5. Deposing license issuing cost to the organization’s account
  • 6. Having signed the terms, obligations and scheduled plan or general agreements by the applicant
  • 7. Confirming and signing the license by industrial management
  • Process of getting exploitation license
  • 1. Handing in the following documents to the industrial management:
  • Copies of identification documents of real individuals
  • Company establishment announcement accompanied with CEO identification documents for legal entities
  • A completed application form
  • Completing an exploitation questionnaire
  • The original establishment or exploitation license issued by this organization or other governmental organs
  • 2. Checking the application by industrial management
  • 3. Visiting the production site
  • 4. Presenting the plan in economic commission
  • 5. Announcing the result to the applicant
  • 6. Depositing exploitation license issuing cost to the organization’s account
  • 7. Having signed the terms, obligations and scheduled plan or general agreements by the applicant
  • 8. Confirming and signing the license by industrial management

Process of importing a car

  • 1. Submitting the following documents to the customs management
  • Original lading bill
  • Original pre-invoice
  • Invoice
  • Proxy
  • ID card and technical booklet of car
  • Certificate of non-stolen car
  • Toll payment bill
  • Warehouse bill
  • Submitting the declaration
  • Submitting the license and commitment letter of vehicle entry
  • 2. Determining current value of vehicle by the customs service assessment management and vehicle entrance toll payment
  • 3. Referring the applicant to an insurance company that guarantees the vehicles use in limited zone
  • 4. Installing GPS and issuing installation certificate
  • 5. Submitting the GPS installation license and vehicle guarantee to the police office
  • 6. Mounting the license plate and issuing green card
  • 7. Issuing car ownership docume

Process of issuing tradable warehouse bill

  • Applying to the customs for initial evaluation
  • Referring to the legal representative of organization for endorsing purchase and shipment document
  • Submitting warehouse bill, lading bill and endorsed invoice to organization’s customs for issuing tradable warehouse bill
  • Paying the related cost
  • Final approval of warehouse bills by organization’ customs and submitting the original version to related office