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The regional government in northern
A major difference between KRG investment law and the national law is that KRG law allows owning land whereas national law only allows leases of up to 50 years that can be extended.
The following information is applicable to investments exceeding $250,000.
Establishing a company in Iraq
When setting up a company in
It takes around 15 days to form a company if all documents are submitted properly. The nomination of a legal consultant for the company is required when setting up a company.
There are some regulations to assist the employment of local staff. The new investment law states that Iraqi citizens should be given priority during recruitment, but does not establish any quotas. There are some exemptions for jobs which need certain skills and special education.
Investment licenses in Iraq
Investment licenses are issued within 45 days, provided that the application form is properly completed.
Central Bank of
So far, many foreign banks have been licensed by the Central Bank of
Although the legislation allows for it, many financial products are not yet being marketed.
Residence permits are usually granted in a couple of weeks with legal assistance.
There are four types of tax in
There are several tax incentives and subsidies for investments in
Repatriation in hard currency of profit and capital brought into