Doing Investments in Kish

Investment Incentives in Kish Free Zone Organization
- 15-year tax exemption for entities receiving economic activity permission;
- No entry visa requirements for foreigners;
- 100% foreign ownership permission;
- Legal guarantee and protection for foreign investors;
- Freedom of investment in various fields for entities holding economic activity permission;
- Freedom of forex transfer to other free zones or other countries;
- Flexible monetary and banking services;
- Efficient fast and wide range of services provided by state-run and private banks and insurance companies;
- Easy forex transactions at rates determined by supply and demand at zones’ banks and announced by the Central Bank;
- Customs exemption for raw materials and industrial machinery imported for manufacturing units on the Island;
- Easy registration of companies, industrial and cultural institutions as well as intellectual ownership;
- Low cost and simple re-exportation operation;
- Less restrictive regulations for lawful import of all goods based on customs duty table;
- Possibility of exporting goods produced in Kish to the mainland in accordance with value added scheme;
- Selling and leasing land to Iranians and leasing it to foreigners;
- Simple laws and regulations of work;

Regulations on Exportation of Goods from Kish Island
1. Export of goods manufactured in Kish using domestic of foreign raw materials.
2. Export of goods produced in Kish to the mainland is exempt from customs duties according to value added scheme but imported raw materials and parts used in final production process are liable to respective duties.
3. Export of foreign goods including consumer goods, machinery and raw materials to the mainland is permissible though their clearance shall be subject to current general export-import regulations of the country.
4. Export of goods manufactured in the country from Kish Free Zone to other countries shall be subject to the observance of current general export-import regulations of the country.
5. Exit of goods entered the Island from various parts for repair or completion is permissible and no payment in received though for parts added or replaced the customs duty and commercial benefit tax is received according to current export-import regulations of the country.
6. Exit of goods entered the Island for repair or completion is free and no port or airport charges shall be collected.
Facilities for Importing Goods to the Island
All goods (except those prohibited by holy Shari’ah of Islam or special regulations of free zones) are permissible to enter Kish Free Zone.
The Importation of Goods is Subject to following Condition:
1. Construction materials and supplies are exempt from customs duties at the discretion of Kish Free Zone Organization.
2. Machinery, raw materials and spare parts imported for industrial and production units are exempt from customs duties.
3. Other goods are liable to customs duty payment. In case of transit or re-exportation, 0.3% of goods value is payable as service charge.
4. Importing goods for storage in free zone’s warehouses in permissible.
5. Importing goods produced in other free zones of the country is subject to 50% discount of customs duties.
Procedures for Clearance of Goods
1.Completion of declaration from containing such information as type, quantity, trade marks, mode, value and weight of goods.
2. Submission of documents including commercial invoice, packing list, manifest, bill of lading and sanitary certificate.
3. Appraisal and control of goods as declared in documents and issue of invoice.
4. Payment of bill in favor of Kish Free Zone Organization.
5. Issue of clearance permit.
6. Final checks at the exit gate and receiving loading permission followed by exit of goods from Customs.