Iran is located in a region of the world dotted with violent conflicts. This has turned the country into one of the world’s most significant migration hubs.
Most of the migrants flooding to Iran are often from the lower classes of their society who for many reasons, including cultural ones, are incapable of pushing their way into Europe.
Amid the current situation, a new by-law recently passed by the cabinet provides such migrants particularly those from Afghanistan with a new chance to get Iran’s residency.
The by-law facilitates getting Iran’s residency. Each investor will get a five-year Iranian residency if they invest a minimum of €250,000, a report by IRNA said.
Investments can also be made in other currencies accepted by the Central Bank of Iran (CBI).
The by-law is aimed at encouraging foreign investors to make investments in Iran through various ways including opening accounts in the Iranian banks, buying investment bonds and securities as well as investment in the housing sector within official procedures.
Now the main question lingering in mind is that why should one get Iran’s residency?
There are some good reasons: First, it is interesting to know that Iran is home to about 3,200,000 foreign nationals. The figure is two times more than the number of foreign nationals living in a country like Qatar.
Therefore, if the new by-law manages to convince 0.1 percent of the migrants to get Iranian residency, this means about €128 million will enter the country, a figure which stands at about one-fifth of trade volume between Iran and France in 2017.
Second, Iran is located in a region of the world dotted with violent conflicts. This has turned the country into one of the most significant migrant hubs of the world. Most of the migrants flooding to Iran are from the lower classes of their society who for many reasons including cultural ones are incapable of pushing their way into Europe.
Third, the main issue is that the current regulations to get Iranian residency are not facilitating. But now the new by-law is set to make the process easier. Those people qualified to get Iranian residency fall into five groups:
1. Those who have lived in Iran for five consecutive or non-consecutive years in Iran. The applicants should also be above 18.
2. Those who have resided consecutively or non-consecutively in Iran for at least two years but enjoy specific scientific and professional achievements but whose expertise should be approved by the related authorities.
3. Those who have resided consecutively or non-consecutively in Iran for at least two years but provided valuable public services. Their services should be approved by the related authorities.
4. Those who have resided consecutively or non-consecutively in Iran for at least two years and provided valuable production or construction services. Their services should be approved by the related authorities.
5. Those who have resided consecutively or non-consecutively in Iran for at least two years and enjoy a personal revenue, salary or retirement pension. Their services should be approved by an Iranian bank.
6. Those who have Iranian spouse and children.
The newly approved by-law has also removed the prerequisites of two years of legal residency.
And finally, one of the facilities provided by the new by-law is that the investment should not necessarily be made in production or construction areas. Based on the by-law, investments can also be made in the banks, corporate bonds, and housing area.
