"Executive Instructions for Opening a Rial Deposit Account for Foreigners"
The first thing that any person who decide to move to abroad and stay there for long time need is having bank account. In this article we try to review conditions for opening account in an Iranian banks for foreigners.
According to the proposal of the Central Bank of the Islamic Republic of Iran, (Article 41), the executive instruction for opening the curtain Rials account for foreigners are as below:
Article 1 – In this instruction, the following expressions are used in legitimate meanings:
1-1 – Central Bank: Central Bank of the Islamic Republic of Iran;
1-2 Credit Institution: A bank or non-bank credit institution established by law and a headquarters is supervised by that bank;
1-3 – Deposit account: current deposit account in Rials, saving deposit account in Rials and long-term investment deposit account;
1-4 – Foreign real persons residing: including a-Foreign real person who have a Permanent residence permit in Iran. b. Foreign natural persons who have one of the following documents: Asylum booklet issued by the police or identity card issued by the Ministry of Interior or long-term exit card (آمایش:Amayesh) issued by the Ministry of Interior.
1-5 – Foreign resident legal entities: Foreign legal entities whose branches or representative offices are similar to what is registered in Iran.
1-6 – Non-resident foreign real persons: including A- Foreign real persons with visas with date validity issued by the Ministry of Foreign Affairs and entered in the passport; B- Foreign real persons have valid passport with citizenship of countries canceling visas with Iran and having the stamp of entry into the country for its validity period which has not expired since entering the country.
C- Foreigner real persons with visas extended by law enforcement and entered in the passport.
1-7 – Non-resident foreign legal entities: Foreigner legal entities that they do not have a registered agency or branches in Iran.
1-8 – Permanent Residence Permit (Residence Permit): Issued by the Immigration Police and the Passport Office of the Islamic Republic of Iran, with the specifications and features announced by the Law Enforcement of the Islamic Republic of Iran and notified by the Central Bank.
Article 2 – Opening a deposit account for those foreign real persons resident who have a permanent residence permit are allowed.
Article 3 – Opening a deposit account for foreign real persons who have an employment permit issued by ministry of Cooperatives, Labor and Social Welfare are allowed.
Article 4 – Opening a deposit account is allowed for resident foreign legal entities.
Article 5 – A credit institution can be a foreign real resident who has one of the documents; Asylum booklet issued by the police or identity card issued by the Ministry of Interior or long-term exit card issued by the Ministry of Interior, Current deposit account without checks, savings deposit account and open term investment deposit account.
Article 6 – A credit institution can open a savings account and investment deposit account , for non-resident foreign natural persons, be subject to the presence of the applicant with a valid passport.