Foreign companies can register branches or representative offices in Iran after adapting to local conditions and regulations, said an Iranian official Saturday.
The new move was connected to "the fact that a new economic and political situations [has been] created in Iran and that Iran is in need of absorbing foreign investments," the director general for legal affairs of the Transport and Terminal Organization, Valiollah Rostami, was quoted by the Tehran Times as saying.
In recent years, Iran's government and Parliament have ratified laws permitting foreign companies to open branches or representative offices.
The article of association lays down that only foreign companies which are recognized as legal entities in their own countries can register or open branches in Iran, provided that their governments provide reciprocal facilities to Iranian companies – Albawaba.com
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