Regulation on Registration and Naturalization of Vessels in Free Trade Industrial Zones.

The Regulation provides for registration and naturalization of vessels in Iran’s free trade-industry zone. In particular, registration and naturalization of vessels is only possible if the owner is Iranian or lives in Iran or is a company registered in Iran or a company registered in Iran’s free zones. All vessels registered in Iran are permitted to fly Iran’s Flag. If the registered vessel is in a ‘bareboat charter’, the Iran’s flag may only be used as complementary to the main State’s flag. All transfers of vessels registered in Iran’s free zones should be recorded in Iran. The registration of vessels shall be cancelled if the initial conditions for naturalization are lost, or the vessels is lost, stolen, collapsed or become unusable. The Regulation consists of 45 articles, sub-divided into 8 Chapters; General Provisions (I); Registration and Naturalization of the Vessels (II); Registration of Vessels on Bareboat Charter (III); Registration of Iranian Vessels Registered in Foreign Free Trade Zone (IV); Vessels Deals (V); Registration License (VI); Cancellation of Registration (VII); Registration Fee (VIII).