Inflow and outflow of capital and expatriation of profits generated by economic activities in each zone is permitted.

Buying and selling of all currencies in exchange of Rial or other currencies and all currency transactions and transfers in the Zones, are permissible. Transfer of all currencies from outside the country to the Zones and vise-versa, is also permissible. Nevertheless, transfer of currencies from other parts of the country to the Zones and vise-versa, is subject to general rules and regulations of the country regarding foreign currency.

The exchange rates for foreign currencies and their exchange rates vis-à-vis Rail are determined on the basis of their supply and demand in the free market.

Banking operations and establishment of banks or credit institutes in the form of public or private joint-stock company with nominal shares, are permissible and subject to a bylaw, compiled by Central Bank of Iran and ratified by the Board of Ministers, and also the provisions of Commercial Code regarding corporations. The Iranian banks or credit institute, with domestic and/or foreign investment in the Zones are established upon the proposal of the Zone Authority and ratification of their articles of association by the “Money and Credit Council” and issuance of license by the Central Bank of Iran. Banks and institutes with either Iranian or foreign capital or with Iranian or foreign partnership, registered in a zone whose main office is in the same zone, are considered as registered Iranian banks and institutes.

The minimum amounts of capital requirement for banking units in a FTIZ are as follows:

a.      Banks: minimum of 35,000,000,000.00 (thirty five billion) Rials, 100% of which shall be deposited in cash with the Central Bank of Iran.

b.     Institutes: A minimum of 15,000,000,000.00 (fifteen billion) Rials, 100% of which shall be deposited in cash with the Central Bank of Iran.

c.     Branches of foreign banks or institutes: A minimum of 10,000,000,000.00 (ten billion) Rials, 100% of which shall be deposited in cash with the Central Bank of Iran.

d.     Offshore banking Units:

1-     For banks: A minimum of 10,000,000.00 (ten million) U.S. Dollars, 100% of which shall be deposited in cash with the Central Bank of Iran.

2-     For institutions: A minimum of 5,000,000.00 (five million) U.S. Dollars, 100% of which shall be deposited in cash with the Central Bank of Iran.

3-     For the branches of foreign banks or institutions: A minimum of 3,000,000.00 (three million) U.S. Dollars, 100% of which shall be deposited in cash with the Central Bank of Iran.

Issuance of the establishment license for the banking units with foreign capital referred to in paragraphs a, b and c is subject to submission of the foreign currency sale declaration to one of the established banking units in the zones, equivalent to the capital belonging to foreign nationals.

The Central Bank may, at its own discretion, alter the foregoing minimum amounts of the liquid capital. Banking units will utilize the amounts deposited with the Central Bank after the registration and submission of due documents.