The comedy character Mr Khan looks set to star in a new film.
The actor and writer said a full announcement would be made "very soon".
He said: "We've teamed up with a great British comedy production company everyone will know and love. And we have great backers and the next six months will be spent trying to write the film and script and hopefully we'll be on our way."
Ray, who is currently promoting BBC drama Ackley Bridge ahead of its return to TV next week, revealed that he would like the new film to be set in America, but isn't sure if the budget will stretch.
"Things could change, but the idea is taking Mr Khan to America," he said, adding: "It just feels like the right thing to do."
He explained: "It will be great if we can do that, it's very expensive, but then I heard Benedict Cumberbatch did a movie recently that was set in New York but they filmed most of it in Glasgow so it could be we could do that.
"It feels like a step up so I'm looking forward to meeting other co-writers or directors who've done films."
The comedian suggested that if everything goes to plan, his character could meet Donald Trump. The Press Association report suggests that producers may try to convince Alec Baldwin to revive his impression for the film.
Ray developed his 'self-appointed community leader' character across several formats before launching family-friendly BBC One sitcom Citizen Khan in 2012. The show has run for five series, with the family last seen in a 2016 Christmas special.
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