Page 24 - of Khadrun’, and that Mark said about the lineage of Jesus son of ‎Mary that he was 'The word of God which He placed in the human ‎body, so it became human’, and that Luke said, 'Jesus son of Mary ‎and his mother were humans of flesh and blood, so the Ho

Investor Guide to Iraq 2021

 Investment Environment

Investment Law No. 13 for the year 2006, as amended

In an effort by the government to attract private investment to Iraq, Investment Law No. 13 for the year 2006 was legislated and
amended. This law was approved by the Iraqi Parliament in October 2006 and became effective in January 2007 in all sectors,
except for investments in the production and extraction of oil and natural gas, and investments in the banking and insurance
sectors, with the minimum capital of the project being covered by the provisions of this law being U.S. $250,000, (two hundred
and fifty thousand U.S. dollars) or its equivalent in Iraqi dinars.
The First Amendment to Investment Law No. 13 for the year 2006 was issued, and the most important parts of this amendment
included:
• Allowing non-Iraqis to own land exclusively for housing projects.
• Extending the benefits of the Investment Law to strategic partnerships with public companies owned by the State.
• Granting a legal entity to investment commissions in governorates that are not organized in a region, in order to enable them to
perform their tasks more effectively.
• Specifying lands owned by the state and restricting their use, placing them at the disposal of the National Investment
Commission for the purpose of allocating them for investment projects.

The second amendment of the Investment Law was issued according to the Law No (50) for the year 2015 and below its most
important provisions:

1- Adding the developer concept who could be defined as each natural or corporal person obtaining an investment license
in cities construction and investment zones or any other sector suggested by the National Investment commission after
obtaining the Ministers council approval, and adding the subordinated developer concept who could be defined as each
natural or corporal person to whom a part of the investment project (of the suggested sectors) ownership is transferred
to be developed.

2- Inserting the phrase of the mixed sector to the article (second - provision 2) as it was mentioned before the late
amendment in the provision No. (33)

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