Page 11 - Microsoft Word - The Investment Law No amended.docx

Fifth- Properties to be allocated for the establishment of the investment project shall be exempted
from the provisions of the laws and the following decisions:
a-The Law of Sale and lease of State Assets No. (21) for the year 2013, and sets bases for
calculating the charges of sale and rent in accordance with regulation to be issued for this purpose.
b- The Law of Agricultural Lands Reform and Lease for agricultural companies and individuals
No. (35) of 1983, and Reorganizing Agricultural Ownership No.(42) of 1987, and Reclamation
Agricultural Lands Lease Law No. (79) of 1985.
c- Industrial Investment Law No. (20) of 1998 on retain the investor port of the land allocated for
them under the provisions of the law.
d- Paragraph (Second) of Dissolved Revolutionary Command Council Resolution No. (850) on 5th
July 1979 as amended with the Resolution No. (940) on 21nd December 1987.
e- Resolutions of Dissolved Revolutionary Command Council No. (581) on 5th May1981, (1187)
on 18th September 1982, (222) on 26th February 1977, and (165) on 1st January 1994.

Article 11

The investor shall enjoy the following benefits:
First: The investor shall have the right to take out the capital he brought into Iraq and its
proceeds in accordance with the provisions of this law and pursuant to the instructions of the
Central Bank of Iraq in an exchangeable currency after paying all his taxes and debts to the Iraqi
Government and all other authorities.
Second: The foreign investor shall have the right to:
A. Dealing in Iraq Stock Exchange with shares and bonds that are dealt in it, and acquiring

membership of private stock and mixed companies, even when there are properties within the
assets of said companies.
B. Form investment portfolios in shares and bonds.
C. The Foreign Investor can open a branch for his Foreign Company in Iraq in accordance with the
Law.
D. Register the Patent of his investment project in accordance with the Law.
Third: Insuring the investment project with any foreign or national insurance company it deems
suitable.
Fourth: Opening accounts in Iraqi or foreign currency or both at a bank inside or outside Iraq
for the licensed project.

Article 12

This law shall guarantee the following for the investor:
First: The right to employ and use non-Iraqi workers in case it is not possible to employ an Iraqi
with the required qualifications and capable of performing the same task in accordance with
guidelines issued by the Commission.
Second: Granting the foreign investor and non-Iraqis working in the investment projects the
right of residency in Iraq and facilitating his/her entry and exit to and from Iraq.

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