Navas became City's first signing of the summer when he joined from Sevilla for a reported £15m earlier this month.
Speaking to journalists ahead of the Confederations Cup final against Brazil, Iniesta remarked that the only player comparable to City's new winger is PFA Player of the Year award winner Bale.
"The only player that I can compare him with that is already playing in England is Gareth Bale," said Iniesta.
"Navas is a very special player. He is going to cause the defences in the Premier League a real problem when he plays for City.
"Jesus has so much speed, and his feet are so quick, that it becomes nearly impossible to stop him without fouling him."