Foreign investors can apply for 5-year residency in Iran soon: official

Source: Xinhua| 2020-05-14 01:20:01|Editor: huaxia

TEHRAN, May 13 (Xinhua) -- Foreign investors would soon be able to apply for a five-year residency in Iran based on regulations approved by the government last summer, Press TV reported quoting the Iranian deputy interior minister as saying on Wednesday.

Application forms would be available in three languages through platforms run by the Iranian Foreign Ministry, the Interior Ministry, Iran's department on foreign investment, and the Central Bank of Iran, said Babak Dinparast.

The Iranian government has allowed foreigners to settle in the country for five years if they make an investment of more than 250,000 euros or its equivalent in other foreign currencies.

Investments that were eligible for the residency permit were not limited to manufacturing activities, but making bank deposits or investments in bonds or housing sector would also be regarded for the residency opportunity.

The Iranian decision seeks to facilitate Foreign Direct Investment amid the mounting sanction pressures by the United States. Enditem