Iran Access Web Directories

QFA AUTHORITY

The Iranian Government has established the Qeshm Free Area Authority as an autonomous body to develop and administer the Free Area on its behalf, with wide powers and potentially very important financial resources. The QFA is administered by a board of directors of three members with H.E. Behruz Boushehri as chairman of the Board and Managing Director of QFA, who exercises his executive powers from the High Council which is composed of eleven cabinet ministers, three vice-presidents and the Governor of the Central Bank, chaired by the President of Iran and constitutes the Authority's highest decision-making body. The Authority administrative and regulatory powers are extensive. The QFA Statutes, the Law and Executive Regulations of Free Trade/Industrial Areas, provide for the managing director to exercise in the Free Area executive functions on behalf of the Government. They further provide for the QFA high Council to enact rules and regulations in all fields that relate to activities undertaken in the Free Area. Consequently, the registration, establishment and dissolution of all foreign and local entities (both administrative and commercial) and the transit and activities of all natural and juridical persons as well as the issue, suspension and withdrawal of operating licenses are all exclusively regulated by the QFA Authority.
Moreover, the Authority is empowered to provide all necessary guarantees and incentives designed to permit the Free Area to develop its potential comparative advantages within a competitive international business context.

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