Payam Special Economic Zone

Iran - منطقه ویژه اقتصادی پیام

Payam Special Economic Zone Iran

Payam Special Economic Zone in Iran is 3,600 hectares. The industrial unit was designed in three phases including the first phase with 40 hectares. The second phase with 56 hectares, and the third phase with 70 hectares. The zone is around 20 km from Karaj, a satellite city of Tehran.

Investment is based on the documents and missions defined for Payam aviation service company and special economic zone. Not every industry is accepted in Payam.  The focus of Payam is on non-polluting activity called green to the third category of the industry.

In this regard, the priority of assignments in the lands of aviation service company and special economic zone is as follows.  ICT Industries, knowledge-based, modern and high-tech industries. Pharmaceutical and medical, aviation transportation services, aviation training centers, logistic city and export terminal.  Exhibition complexes, commercial and administrative offices, welfare and service complexes.  Some towns are being constructed in this regard.

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Terms and conditions of land assignment at Payam Special Economic Zone

In Payam special economic zone, the available lands are assigned in different areas upon the request of investors with a rent agreement of 25 years being fixed for three years and then 10% will be added to the rent from the fourth year. Through the follow-ups, some planning was made for the specific industries of sale and by that time, the investor may have worked for several years. For any reason that the investor wants to assign his real estate, an approval was regarded in Payam board of directors allowing the investor assign his real estate to another person whenever they want.

Payam considers the minimum time in assignment and the applicants can register their application on the website or in person. Then, they can refer to the investment unit after receiving the tracing code.


The guarantee of investor support

The guarantee of capital for investor is of great significance and Payam attempts to focus on this point. The law of attracting and protecting foreign investors, being one of the laws approved in the Islamic Republic of Iran, is regarded by Payam. Based on this law, the central bank of the Islamic Republic of Iran guarantees the capital of the investor with profits. This guarantee is also in progress in special and free zones such as Payam special economic zone. The important point is that a foreign investor in Payam can be shareholder for 100%.


The general steps of investment

Investors take the following steps for investing in Payam special economic zone.

First, they attend the department of Payam aviation services company and  special economic zone. Then, they receive and fill the investment questionnaire form from www.pasc.ir and submit it to the investment unit to register their investment plan.

After the registration, the investment plan is evaluated by economic plans committee. Then  finally sent to the board of directors.

The plans and projects received by the board of directors at the meeting are provided to approve or reject.  Then the results of the meeting are communicated to the investor. If the plans are approved, the next steps will be taken.

Based on Article 7 of the Special Economic Zone Laws, all the required licenses of investors such as the construction license, completion of work license, exploitation license, and land locating license are issued by Payam special economic zone. This is then provided to the investors.

If the economic activists work in special areas even if in the field of health care, the inquiries will be received from relevant organizations. All administrative routes will be paved for them in accordance with Article 21 of the Special Economic Zone Laws.


The required documents for investment

After the approval and acceptance of the plan, the investor fills the investment application form.  Then the turnover of applicants’ accounts are sent to the department of investment along with the following documents.

Presenting the copy of the company documents such as (statute, official newspaper, national card of the signers, economic code license), and presenting the investment application including the type of activity and the amount of requested land are among the other steps of the investor to complete the investment process.


Investment costs in Payam Special Economic Zone

Investors pay 10 million Rials for issuing the construction license and 15 million Rials for license extension. Plus 10% of the value of land expertise to Payam aviation service company and special economic zone.


Labor office in Payam

The relationships between the employee and the employer in the special zones are well defined. Labor offices outside the special economic zones have no competence to deal with labor problems in special zones. The contract between the employer and the employee is completely negotiable. The head of the labor office in the special zones who has received his position from the minister supervises all the mechanisms governing the employer and employee in the special economic zone.


Investment exemptions in Payam

In special economic zones including Payam, the investors can bring their required devices and equipment as much as they want from abroad without any customs duties. Then they can transfer them to their workshop or factory. The investors only announce the type of machines have entered the country to the customs.


The exemption of raw materials

The investor and producer are exempted from customs duties until they bring their raw material into the special zone. If the raw materials are installed and issued inside the special zone, they will have a high value added. In fact, the investor has done export without paying export duties. With this type of economic activity, Payam is considered as a turning point in the field of export-oriented industries.


Value added commission

If a person wants to do import and export at the same time, the special zone will be considered as an advantage for him. When the importer wants to import a commodity to the country, a commission called the value added exemption commission will be established in the Supreme Council of Free Zones. In this commission, there are some representatives. These include the Central Bank, the Ministry of Mining Industry, Commerce, and Customs.  The representatives give an allowed percentage to the import and when a commodity is importer through a special    one, there will be a big difference with a person entering through a non-special zone in terms of the final price.

Commodities

In the special economic zones, no commodity is abandoned. The raw material of the industrial unit should be cleared in other customs within 2 or 3 months. If the commodity is not cleared¸ it will be transferred to the organization for collection and sale of state-owned properties of Iran. However, in the e special economic zones, the commodities can be remained in the raw material warehouses for any length of time. When the market requires that commodity, it is imported to the country. Two advantages include the value added commission exemption and the time when the raw materials in the warehouse are used without paying the customs duties. In addition, the amount which should be paid for clearance is used as working capital.