Legal Guide To Iranian Market Booklets By J.Nouraei

 

Excerpts:

 

What kinds of partnersh ip are anticipated under Iran ian law?

Two kinds; civil and commercial partnerships. According to Article 571 of the Iranian Civil Code, a civil partnership is the combination of the rights of several proprietors in one single objective by way of undivided shares. The  civil  partnership may be either voluntary, such as an agreement to hold a property in common for example or compulsory such as when some heirs inherit certain properties which are not divisible.

A civil partnership is not a corporate entity recognized by law and has no juridical personality separate from the natural personality of the partners, while a commercial partnership constitutes an independent corporate entity. Therefore, in civil partnership, all the partners have joint liability before third parties.

 

How many types of commercial companies  can be incorporated under lranian law?

Seven types of companies are defined in Article 20 of the Commercial Code of Iran. They are as follows:

1.   Joint Stock Company (Sherkate Sahami)

2.   Limited Liability Company (Sherkat ba Massouliat Mahdoud)

3.   General Partnership (Sherkate Tazamoni)

4.   Limited Partnership (Sherkate Mokhtalet Ghair Sahami)

5.   Joint Stock  Partnership  (Sherkate Mokhtalet Sahami)

6.   Proportional Liability Partnership (Sherkate Nesbi)

7.   Production and Consumption Cooperative

(Sherkate Taavoni Towlid va Masraf).

 

 

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