Sunday, June 16, 2024

The Guidelines for Investment

Foreign investment procedure for foreign investors:

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 Organization.

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 issuance:

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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