Due diligence in Iran follows the same logic as anywhere else: identify the company, confirm who controls it, test what it says about itself, and decide whether the risks are acceptable. What differs is the evidence available. Iran has a formal company registration system and a public Official Gazette, but much of the useful detail is in Persian, ownership information is limited, and sanctions rules shape what you may do with the results.

This guide explains the main steps and the sources behind them. It is general information, not legal advice.

1. Decide whether you can proceed at all

Before researching a company, confirm that the relationship is lawful for you. Sanctions and export-control rules depend on who you are, what you trade and which banks and jurisdictions are involved, and they have changed repeatedly since late 2025. Due diligence on a company is not a substitute for advice on whether the transaction is allowed. For the wider rules, see our guide How Compliance Works in Iran.

2. Identify the legal entity correctly

Many due diligence errors start with the company name. Iranian companies must have a unique legal name in Persian, while English names found on websites or invoices may be partly translated, partly transliterated or simply informal. Two different companies can look similar in English, and one company can appear under several spellings.

Use the Persian legal name together with the identifiers Iran assigns:

  • Registration number (shomareh sabt), the older identifier
  • National ID (shenaseh melli), the unique identifier for legal entities, which can be checked against the national legal-entity database
  • Registered address and company type, such as public joint-stock company, private joint-stock company or limited liability company

Ask the company to provide these details in writing and check that they match across the quotation, contract and invoice.

3. Read the Official Gazette

The Official Gazette (Rooznameh Rasmi) is the main public record of Iranian company history. It publishes notices of incorporation and notices of later changes, including changes to directors, capital, address and signing authority. Registration becomes effective against third parties on publication, so the Gazette is the authoritative public statement of how a company is set up.

The most useful items are usually:

  • Incorporation notice: the founding date, capital, activities and initial board
  • Change notices: later changes in management, capital or address
  • Signing authority: who may bind the company, which is critical before you sign anything

Two cautions apply. Gazette notices are announcements made by the company, so they show what was declared, not whether it is true or complete. And the notices are in Persian, so names, titles and dates need careful reading.

4. Work out ownership and control

Ownership is often the hardest part. Joint-stock companies must disclose their board members in the Gazette. Limited liability companies also disclose board members, but those individuals are not necessarily the shareholders. The company register itself does not give a full list of shareholders or beneficial owners for every company.

In practice, this means ownership questions may need other evidence, such as shareholder information a company agrees to provide, securities disclosures for listed companies, and statements checked against other records. Be careful about concluding that nobody important stands behind a company just because none appears in the public record.

Where a counterparty is linked to a state body, foundation or other state-connected organisation, record that clearly, because it can affect both sanctions and reputational risk.

5. Check financial and commercial information

An ordinary Iranian company does not file annual financial statements with the companies register in the way many other countries require, so public financial data is limited. Listed companies are different: the Securities and Exchange Organization's CODAL system carries filings such as financial statements and capital changes, and these can show more recent activity than the Gazette.

For unlisted companies, you may need to ask for financial documents directly, such as audited statements, tax documents or bank references, and consider an independent credit assessment from a source agreed in advance. Other useful records include trademark registrations and tax-related records, where available.

6. Verify operations directly

Records describe a legal entity, not a factory, a warehouse or a delivery record. If production, capacity or quality matters to your deal, verify it directly:

  • Request the factory address and a live video call, or arrange an independent inspection
  • Ask for operating and product licences relevant to your goods
  • Request references or examples of earlier export orders
  • Test samples before committing to a larger order

The supplier may be a manufacturer, an agent or a trading company. Any of these can be acceptable, but you should know which one you are dealing with.

7. Screen for sanctions and reputational risk

Run the company, its directors and any known owners or affiliates through the sanctions and watch lists that apply to you. Because Iranian names can be spelled in many ways, screen the Persian name, the transliterated variants and the identifiers. A clear screening result is a snapshot, so repeat it before each new transaction.

8. Document the contract and dispute position

After the facts are checked, make sure the contract matches them. Confirm that the signatory has authority under the Gazette, that the contracting party is the same entity that will ship goods and receive payment, and that delivery, inspection and remedies are written clearly. Take advice on governing law and dispute resolution, including how an award would be enforced in practice. Iran is a party to the New York Convention on arbitral awards, but enforcement depends on the circumstances.

9. Keep a record and update it

Save what you checked, when you checked it, what you could not verify and the reasons for your decision. Company details, management and sanctions positions change, so refresh the review for a new or larger transaction.

Common red flags

  • The name on the quotation differs from the name on the contract, invoice or bank account
  • The company will not provide its national ID or registration number
  • A person without clear signing authority negotiates or signs
  • Payment is requested to a third party or to an unexplained account in another country
  • Claims about capacity or licences cannot be supported by documents or inspection
  • The company has no visible history, or its history does not match what it says

How Iranlook can help you assess Iranian companies

Iranlook prepares English-language reports on Iranian companies using available company information and local records, including official notices, tax-related sources, trademark records and securities disclosures. A Company Report helps you review a specific company. An Enhanced Due Diligence Report adds tailored enquiries by our experts, such as checking production capacity with the company, reviewing financial documents or obtaining a financial credit assessment from a source agreed with you.

These reports support your assessment, but they do not replace sanctions screening, legal advice, factory inspection or your own decision.