Company & Commercial, Iraq updates

Registration and regulation of non-governmental organisations
  • Iraq
  • September 10 2012

An international non-governmental organisation (NGO) must register to carry on its conceived activities in Iraq. The authority for registering and regulating NGOs has changed a number of times over the years. Although the requirements for registration have not changed significantly, there have been differing interpretations of the requirements and a general desire by the regulatory authority to seek more information.

Investment laws of Iraq and the Kurdistan Region
  • Iraq
  • August 30 2011

Iraq and the Kurdistan Region's investment laws provide significant benefits for investors in qualified projects, principally tax and customs fees and duty exemptions. Amendments to this law are before the region's Parliament. While these laws continue to be developed, the roles played by the investment agencies are rapidly becoming more prominent.

Investment opportunities and risk in modern Kurdistan
  • Iraq
  • September 13 2010

Kurdistan today enjoys a surprisingly accessible and secure business investment climate. It is currently an attractive destination for investors and contractors. However, there remains considerable political, legal and security risk associated with working in the region. The security risk associated with operating in Iraq must be considered before contemplating investment or contracting in Kurdistan.

Structural options for international corporations in Iraq
  • Iraq
  • February 08 2010

Any company seeking to conduct commercial activities in Iraq must register to do business in the country. While the Companies Regulations provide for the establishment of five different kinds of private company, registration options for a foreign corporation are confined to a limited liability company or a branch of a validly incorporated foreign company.

New Regulations for Foreign Company Branch Registrations
  • Iraq
  • April 30 2007

With the publication of the new Investment Law in the Official Gazette on January 17 2007, the Iraqi government has begun to re-implement the company laws and regulations that existed under Saddam Hussein's regime, replacing many of the changes introduced by the Coalition Provisional Authority.

New Federal Investment Law Approved
  • Iraq
  • February 26 2007

The National Assembly has passed a new investment law, repealing Coalition Provisional Authority Order 39/2004, which established the basis on which foreign investment in Iraq was to be conducted following the fall of Saddam Hussein's regime. The new law seeks to establish the framework for the conduct of foreign and domestic investment in Iraq.

Kurdistan Assembly Continues Investment Reform
  • Iraq
  • November 06 2006

The National Assembly of Iraqi Kurdistan has enacted the Investment Law of the Iraqi Kurdistan Region. The law replaces the Investment Decree, which granted incentives and guarantees to investors in Kurdistan, and implements a more stable and secure regime for domestic and foreign investment in the region.

New Foreign Investment Law Proposed
  • Iraq
  • September 18 2006

The Iraqi government has drafted a new law to provide guarantees and incentives for investment in Iraq. The new law is intended to replace Coalition Provisional Authority Order 39/2003, which established the basis on which foreigners could invest in Iraq.

New Ministry of Interior Regulations Delay Company Registrations
  • Iraq
  • May 08 2006

New regulations have come into force to require the approval of the Residency Department of the Ministry of Interior for all applications to register domestic companies with foreign shareholders. The new regulations add an element of uncertainty as to the time required for company establishment, presenting a further obstacle to foreign investors.

Trade Name Registration Continues to be an Issue
  • Iraq
  • March 06 2006

The process of registering a company in Iraq begins with the registration of a trade name with the local chamber of commerce and the Iraqi Federation of Chambers of Commerce. Despite an overhaul of company registration procedures under the Coalition Provisional Authority, the process of trade name registration remains unaddressed.

Greater Recognition of Coalition Company and Commercial Laws
  • Iraq
  • January 09 2006

Following the fall of Saddam Hussein's regime, the Coalition Provisional Authority (CPA) has issued numerous new laws and amendments to existing laws. Several of these deal with company and commercial law issues. As the transition period winds to a close, the CPA orders affecting company and commercial laws are gaining wider recognition and application by Iraqi authorities.

Regional Government Regulates Foreign Company Registration
  • Iraq
  • November 01 2004

According to Article 2 of the new Regulation 2/2004, foreign companies may not carry out commercial activities in Kurdistan-Iraq unless they have registered a branch for these activities in accordance with the regulation. For the time being, the authorities in Kurdistan are of the opinion that such registration is required even if the foreign company has a branch registered in Baghdad.

Establishment of Companies
  • Iraq
  • March 29 2004

Previously, any foreign participation in any kind of company in Iraq was prohibited. However, a new order issued by the Coalition Provisional Authority expressly permits foreign natural or legal persons to establish or participate in Iraqi companies and partnerships. Among other things, it also expedites the registration procedure for companies established in Iraq.

Establishing Branches and Representative Offices of Foreign Companies
  • Iraq
  • March 22 2004

Before the war in Iraq, a contract with specific entities - usually the government or state-owned companies - was required to establish a branch, while representative offices were not permitted to conduct any business activities. This situation has been overhauled with the introduction of a new regime governing the registration and operation of branches and trade representation offices.

New Developments in Foreign Investment Law
  • Iraq
  • February 23 2004

Currently, it is still impossible for foreigners to register a company in Iraq, due to the lack of implementing regulations. The stalemate has been due to tensions between the Coalition Provisional Authority and parts of the Governing Council and the business community which favour a more protectionist approach to foreign investment.

Principles of Contract under Iraqi Law
  • Iraq
  • February 23 2004

The Iraqi Civil Code adopts the principle of freedom of contract. However, freedom of contract is not without limits and is restricted by some mandatory provisions in statutes enacted in order to protect weaker parties. Generally, a contract between commercial parties binds them to the terms of the contract.

Coalition Provisional Authority Passes Foreign Investment Law
  • Iraq
  • October 13 2003

The Coalition Provisional Authority has promulgated Order 39, which replaces all existing foreign investment laws and serves as the basis for future foreign investment in Iraq. In principle, foreign investment may take place in all parts of Iraq and with respect to all economic sectors.

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