Non-Iranians and Iranians who are living overseas. To be more specific, if the incoming source of capital is not based in the main land, it is considered as “foreign investment” and investors shall go through processes of fund transfer and opening necessary bank accounts for their investment.
Each of the following persons is considered to be a foreigner/ foreign entity:
- An individual person who does not enjoy the Iranian citizenship;
- Any legal entity that has been registered in a country other than Iran;
- Any legal entity that has been registered in Iran whereby the total shares of the persons stated in subparagraphs (a) and (b) above in the capital of such entity shall exceed fifty (50%) percent. In the event that the mutual fund is regarded to be a foreign entity, it shall remain to be the same (foreign entity) as long as the shares of the persons stated in subparagraphs (a) and (b) above in its capital have not reduced to 40%.