Page 15 - Microsoft Word - The Investment Law No amended.docx

A- Application form prepared by the Commission
B- Project financing plan coupled with ensuring funding source from an accredited financial
institution.
C- Projects performed by the investor or their partners inside or outside Iraq, and authorities
supporting them in implementation.
D- Details of the project intended to invest in and its economic feasibility.
E- A timetable for completing the project.
Third: After receiving the investment license, the investor shall be granted a special identity card,
he will enjoy of all privileges that regulated with instructions and regulations issued by the National
Investment Commission, and approved by the Council of Ministers.
Article 20
First: The Commission must issue the investment license through establishing One Stop Shop
which includes authorized representatives of ministries and relevant bodies.
Second:
A- The Commission through One Stop Shop shall coordinate with sectored bodies by their
authorized delegates referred to in item (First) above on obtaining its approval on the investment
project, and such bodies will issue their approval or rejection or request to amend within (15)
Fifteen days from the date of notification, the delegate of governmental authority shall adhere to
obtain an answer during that period, the lack of response from the authority that requested its
opinion shall be considered as approval, and in case of rejection it should be causative.
B- In case of passing of the period referred to in paragraph (A) in item (Second) above, or in case
non-causative rejection, or arbitrary rejection, the One Stop Shop is entitled to submit its
recommendation to grant the investment license to the Head of the concerned commission, or the
Board of Directors as the case in order to issue in accordance with this law.
C- All governmental authorities commit to cooperate with the Commission after issuing the
investment license to accomplish requirements of investment project commencement within a
period of (30) Thirty days from the date of issuance.
Third: In case of disagreement between the National Commission for Investment decision and
the other relevant entity regarding the granting of the license other than the Region's
Commissions, the dispute shall be brought before the Prime Minister for settlement.
Fourth:
A- When the investment license request is denied, then the applier can request reconsideration

from the head of the commission of the Region or governorate not affiliated with a region
within (15) fifteen days from the date of notification of the rejection. The head of the
addressed commission should make a decision about the request within (7) days from the
date the plea was registered in his office.
B- The plea submitter can make an objection at the National Commission of Investment
within (15) fifteen days from the date the rejection decision was issued. The Commission
has to make a decision about the objection within (15) fifteen days from the date it was

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