Foreign investment procedure for
Step 1: Submitting an
application of investment for admission by the organization:
Applicants are advised to make
sure that information contained in the application form is entered meticulously
and preferably using technical and economic justification studies and in the
absence of such studies, the information should be entered with the help of the
latest information and project data they want to invest in. For this purpose, during
the preparation of the application for admission, they can receive consultation
from the employees of the General Directorate of Foreign Investment of the
Step 2: Reviewing the
application for investment by the Foreign Investment Board:
Following the application
submission, the Organization prepares a report on the request in order to
investigate and making a decision by the Foreign Investment Board. This process
usually takes more than 15 working days since receipt of the application
for admission. Representatives of foreign investors are also invited to attend
the Foreign Investment Board meeting. In any case, the Foreign Investment Board
should decide on the application for admission within a maximum of one month.
Step 3: Submitting draft of
investment permits for foreign investors:
In order to ensure the
satisfaction of foreign investors from the decision of the Board, draft of the investment
permit is sent to the foreign investor prior to issuance. This will provide the
opportunity for the foreign investor to review the details of the investment permit
and express their agreement or disagreement before the final issuance.
The Organization welcomes any
comments that contradict the decisions of the Foreign Investment Board and it
is ready to mention the issue to be re-examined by the Board.
Step 4: Investment permit
Under no circumstances, final permit
will not be issued before the organization officially make sure of the
agreement of the foreign investor with the content of the drafted permit. Following
receipt of investor confirmation regarding the drafted permit, the final permit
is issued with the signature of the Minister of Economic and Financial Affairs.
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