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Foreigners with $250,0000 investment in Iran to get 5year residency

Tehran, Iran's interior minister says foreigners can obtain Iranian residency if they invest $250,000 in the country as Tehran seeks foreign investment.

Each foreigner who invests $250,000 in Iran can get Iranian residency for a minimum of five years, according to Interior Minister Mohammad Reza Rahmani Fazli.

The Interior Ministry, he said, will take on the task of announcing the measure and publicizing the plan.

The Iranian government approved on July 1 a bylaw to grant five years of residency to any foreigner who invests up to $250,000 in the country.

The proposed investment opportunities include opening accounts in Iranian banks, buying securities as well as investing in housing sector.

Source: Islamic Republic News Agency IRNA

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