It takes an average of about four months to obtain a residence permit in Iran. The procedure takes place in five stages:
1
Investor fills out application form and submits documents to Iran's representative office abroad
2
+1 monthThe Iranian Ministry of the Interior reviews the investor's application and makes a decision on it
3
+2 monthsThe investor fulfills the investment condition within 2 months from the date of approval of the application
4
+1 weekThe investor receives confirmation that he has fulfilled the investment condition and passes it on to the Iranian Interior Ministry
5
+2 weeksIranian Migration Service issues residence permit cards
Iran grants a residence permit for 5 years. After that the investor can:
Extend the residence permit for another 5 years
by notifying the Iranian Ministry of Interior three months before the expiration date of the residence permit
Renunciation of the residence permit
by notifying the Iranian Ministry of Interior 6 months before the expiration date of the residence permit
If an investor refuses a residence permit, he can return the money invested, for example, close a deposit in the bank or sell real estate. It is possible to renounce the residence permit at any time before the expiration of the five-year period.
The bank deposit option is nuanced. Investor deposits are opened at 0.5% per annum. If the investor decides to close the deposit during the first two years, he will not receive interest income. Only at the end of the five-year holding period of the deposit or at the time of withdrawal of the residence permit, the investor receives the interest income in full.
Adult foreigners have the right to apply for Iranian citizenship if they have lived in the country for at least 5 years. But it is not known whether investors can obtain the country’s passport.
Iran has been under international sanctions since 1979. There are no international payment systems in the country, such as Visa and SWIFT. If a foreign company, such as a European company, opens a branch in Iran, it will also be subject to sanctions and its accounts in Europe and America will be frozen. It is difficult for Iranian citizens to obtain visas to Schengen countries or the United States.
Wealthy Iranians try to get a residence permit by investment in EU countries. But not all countries with active programs is possible. For example, Malta does not accept applications from citizens of Iran.
In May 2021, investors from different countries can obtain a residence permit in Portugal, Greece, Spain and Malta. Wealthy people can also get a residence permit for the financially independent in Austria and Switzerland. The European residence permit allows you to move to live in the country of residence, as well as travel visa-free in the Schengen area. Residents can apply for citizenship by naturalization if they have lived in the country for several years.
Immigrant Invest is a licensed agent for European residence permit programs by investment. If you want to become a resident of a European Union member country, seek advice from experts in investment programs.
