Requirement to register
The United Nations (Iran) Sanctions Amendment Regulations entered into force in December 2010. The Charter members of the United Nations (UN) have agreed to accept and carry out the decisions of the Security Council. The sanctions are binding one all UN member States, including New Zealand, making business transactions difficult in Iran.
All entities incorporated under New Zealand law (including New Zealand businesses based offshore) must register with the Ministry of Foreign Affairs and Trade, if they intend to do business in Iran. The registration requirement applies to goods and services that are exported to and imported from Iran. It is illegal to do business with Iran without being registered.
Before New Zealand businesses apply for a registration, they are advised to conduct appropriate due diligence concerning their business partners in Iran.
For more information on the registration requirements imposed by the Iran Sanctions Amendment Regulations, visit the Ministry of Foreign Affairs and Trade’s website at www.mfat.govt.nz.
Key indicators
For more information on doing business in Iran, phone NZTE on 0800 555 888 or contact your Client Manager.
