Page 33 - 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

Legal Registration of Companies in Iraq
The Companies law No. 21 for the year 1997 as amended, and Regulation No. 5 for the year 1989, regarding the system of
branches and offices of foreign companies and economic establishments, and allowing foreign companies to open a branch or an
office inside Iraq by registering with the Ministry of Trade's companies registrar and obtaining a business ID number.
The Companies law No. 21 for the year 1997, and the Trade Act No. 30 for the year 1984, regulate all incorporations and trade
activities regarding Iraqi businesses. For the purpose of the registration of a company in Iraq, whether its owner is Iraqi or a
foreigner, the following steps must be completed:
1. Determine what category the company in question belongs to, according to the Companies Law, No. 21, 1997. For more detail
please visit :
www.investpromo.gov.iq

2. Fulfill all required registration procedures:
a. Register a trading name with the relevant trade chamber or the union of trade chambers.
b. Submit a contract signed by the founders of the company, stating the name of the company, its activities, and its capital.
c. Deposit appropriate capital for the company, in IQD, at an authorized Iraqi bank and notify the Companies Registrar of same.
d. Pay all fees required to register the company with the Companies Registrar. Please see
http://www.motiraq.org/registration.aspx.
e. For joint stock companies, submit the subscription certificate, signed by the founders, and the company's feasibility studies.
f. Define the commercial and technical activities of the incorporating company; to be included in the contract for incorporation.
g. Obtain approval from the Minister of Interior for all foreign shareholders.
h. Submit the company’s financial accounts for the last year, where appropriate.
i. Provide the address of the company's commercial activity in Iraq. As for the branches and offices of foreign companies, they
are to be completed according to the system of branches and offices of foreign companies and economic establishments No. 5 for
the year 1989, which permits companies to open branches and representative offices in accordance with a mechanism contained
in the system..
3. After the company is founded, they must:
a. Employ a legal advisor (attorney) for the company approved by the Bar Association.

b. Employ a chartered accountant approved by the Chartered Accountants and Auditors Association.
c. Appoint an Executive Manager.
d. Open a branch for the office or foreign company

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