Outlined below are the key provisions of the new law : Minimum Deposit Amount and Dependents : The minimum deposit amount required for the main applicant, along with their dependents (spouse, male children under 18 years old, unmarried females, father, and mother) for a total of five persons, is one hundred thousand dollars or the equivalent in currencies approved by the Central Bank. An additional $20,000 per person will be added if there are more than five dependents. Deposit Options : The applicant can choose to either make a deposit in a bank designated by the Central Bank or opt for foreign investment. In the case of foreign investment, the necessary permission must be obtained from the foreign investment organization. Deposit Period : The length of the deposit period must be at least five years, which corresponds to the duration of the residence permit. However, both the deposit period and the duration of stay can be extended upon request. Extension Process : If the applicant wishes to extend the residence permit beyond the initial 5-year period, they must initiate the necessary procedures at least three months before the expiration date. During the extension period, the applicant is eligible to receive interest from their deposit, and the interest rate will be in accordance with the announcement of the Central Bank. Guarantee and Repatriation : The principal amount and the profit generated from the deposit, as well as the transfer of funds abroad, are guaranteed by the Central Bank. Cancellation of Residence Permit : Six months before the end of the deposit period, the depositor can submit a request to cancel the residence permit and withdraw the deposit amount for transfer abroad. Access to Public Services : Government and public sector bodies and institutions are required to collaborate and provide necessary facilities for 5-year residency holders to access public services such as healthcare, education, driving licenses, and domestic travel services. Work Permit and Employment : Holders of a 5-year residence permit are entitled to obtain a work permit and employment authorization for the duration of their stay. Additionally, there are no exit and return restrictions for permit holders. Investment Possibility : If the applicant wishes to utilize the deposit funds for investment purposes, the Special Residence Commission will consider the request after obtaining approval from the investment organization. The Commission will then inform the Central Bank so that they can facilitate the release of the deposit accordingly. Foreign Currency Deposit Agreement : The National Bank of Iran is authorized to conclude a special foreign currency deposit agreement with foreign nationals, allowing them to open a foreign currency account with a minimum deposit of 100 thousand dollars. This can be done through remittances and bills, with coordination with the international department of the central remittance bank. Contract Termination and Interest : The deposit period is fixed at 5 years, and any request to cancel the contract and withdraw the principal amount before two years of the contract signing requires approval from the Special Accommodation and Facilities Commission. If the contract is canceled within the initial two years, no interest will be paid. However, if two years have passed, the deposit interest will be calculated and paid in full from the contract's conclusion until the termination date. Payment of Principal and Interest : At the end of the 5-year period, the principal and interest of the deposit will be paid in a single installment. For money transfer deposits, the payment will be made through currency transfer, while banknote deposits can be paid in the form of a banknote or money order, as per the applicant's choice. Agency Fee : The National Bank's agency fee of two per thousand in relation to the total amount of deposits received will be paid to the Central Bank at the end of each year. We hope that these guidelines provide clarity on the procedures and requirements for obtaining a 5-year residency permit in the Republic of Iran. For any further information or assistance, please feel free to contact the relevant authorities.