Iran to Establish First Offshore Bank

Iranian Economy and Finance Minister Ehsan Khandozi has announced that an “offshore bank” will soon be established outside the country for the first time.

In a statement during the TV program, Ehsan Khandozi referred to the approval of the creation of an “offshore bank”, adding: “This move comes in the context of the Iranian government’s efforts to increase foreign investment domestically.”

Khandozi added, “Attracting foreign capital is one of the priorities in the development of the Iranian economy.”

And he pointed out that thanks to the work of the Iranian government, the foreign investment sector in the Iranian economy has achieved a growth of 6.7% today, noting the stimulus plans set by the government to attract more foreign capital.

He continued: “Every foreign businessman who invests more than $100,000 in cash or otherwise will receive a residence permit for 5 years or more for capital owners whose investments exceed this amount.”

Source: “Mehr”