The Islamic Republic of Iran offers residency status to foreign investors, state TV reported on Monday.
The Iranian government approved on Sunday to allow foreigners to settle in the country for five years if they make an investment of more than 250 thousand euros or its equivalent in other foreign currencies, the report said.
Investments that are eligible for the residency permit are not limited to manufacturing activities, but making bank deposits or investments in bonds or housing sector would also be regarded for the residency opportunity.
The Iranian decision seeks to facilitate Foreign Direct Investment (FDI) amid the mounting sanctions pressures by the United States.
