Page 38 - 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
P. 38
Investor Guide to Iraq 2021
- Exempting imported and exported goods and raw materials from all taxes and fees, except those exported to the interior of the
country
- Transferring foreign currencies inside and outside or dealing in them within the free zone is not subject to any restrictions or
conditions.
- Investors in the free zones are allowed to open accounts in certain banks funded by currency received from abroad.
- Investors are granted a temporary customs privilege for the entry of their cars according to the needs of the project.
- The right is granted to waive the investment, and to incorporate or exclude a partner.
Scope of the law’s coverage
The Free Zones Act allow the exercise of the following activities within the free zones:
A. Industrial activities (production and consumption), assembly operations, processing and re-packaging.
B. Storage operations - re-export and trade.
C. Storage, transportation and service activities of all kinds.
D. Banking activities - insurance and reinsurance.
E. Complementary and supporting professional activities.
For more information about the free zones in Iraq, please visit the website of the General Commission for FreeZones:
http://freezones.mof.gov.iq
Secure investment zones in Iraq
The National Investment Commission has formulated a strategy for the investment areas in Iraq in cooperation with the
investment program in the Middle East and North Africa of the Organization for Economic Cooperation and Development
(OECD). A draft was prepared of the general principles for the feasibility study concerning the location of the pilot investment
zone in the Babylon province, as well as a draft assessment of the investment protection for investors in Iraq. The program also
www.investpromo.gov.iq 36
