Page 23 - Microsoft Word - FINAL COPY - A Legal Guide to Investing in Iraq _12-7-2015_ _6_.docx

5. Timetable for Completion of the ‫ ﺗﻘﻊ ﻋﻠﻰ ﻋﺎﺗﻖ‬.‫ ﺟﺪول زﻣﻨﻲ ﻹﻧﺠﺎز اﻟﻤﺸﺮوع‬.5
Project. It is the investor’s ‫اﻟﻤﺴﺘﺜﻤﺮ ﻣﺴﺆوﻟﯿﺔ ﺗﺤﺪﯾﺪ اﻟﺨﻂ اﻟﺰﻣﻨﻲ اﻟﻤﻄﻠﻮب‬
responsibility to accurately determine ‫ﻹﻛﻤﺎل اﻟﻤﺸﺮوع ﺑﺪﻗﺔ وﻣﺴﺎﻋﺪة اﻟﺠﮭﺎت ذات‬
the timeline required to complete the ‫اﻟﻌﻼﻗﺔ ﻓﻲ إﺗﺨﺎذ اﻹﺟﺮاءات اﻟﻼزﻣﺔ ﻣﻦ ﺟﺎﻧﺒﮭﺎ‬
project and to assist the relevant parties ‫ﻟﻜﻲ ﺗﺘﻮاﻓﻖ ﻣﻊ اﻟﺠﺪول اﻟﺰﻣﻨﻲ ﻟﺘﻘﺪم اﻟﻌﻤﻞ‬
in taking the necessary steps to comply
with the progress of the work schedule .‫ﺑﺎﻟﻤﺸﺮوع اﻹﺳﺘﺜﻤﺎري‬
of the investment project.
،‫إذا ﻣﺎ إﺳﺘﻮﻓﻰ اﻟﻤﺴﺘﺜﻤﺮ ﺗﻘﺪﯾﻢ ﻛﺎﻓﺔ اﻟﻤﻌﻠﻮﻣﺎت اﻟﻤﻄﻠﻮﺑﺔ‬
Assuming that all of the required information ‫ﻓﺈﻧﮫ ﯾُﻤﻨﺢ إﺟﺎزة اﻹﺳﺘﺜﻤﺎر اﻟﺘﻲ ﺗﻤﻨﺤﮫ ﻛﺎﻓﺔ اﻟﺤﻘﻮق‬
is provided, the investor will be granted an .‫واﻟﻀﻤﺎﻧﺎت اﻟﻤﻨﺼﻮص ﻋﻠﯿﮭﺎ ﻓﻲ ﻗﺎﻧﻮن اﻹﺳﺘﺜﻤﺎر‬
investment license that provides the investor ‫ ﯾﺴﺘﻜﻤﻞ اﻟﻤﺴﺘﺜﻤﺮ إﺟﺮاءات‬،‫وﺑﻤﺠﺮد ﻣﻨﺢ اﻹﺟﺎزة‬
with all of the rights and guarantees set forth ‫اﻟﺘﻌﺎﻗﺪ اﻷﺧﺮى ﻣﻊ اﻟﺠﮭﺎت اﻟﻘﻄﺎﻋﯿﺔ ذات اﻟﻌﻼﻗﺔ ﺣﺴﺐ‬
in the National Investment Law. Once a
license is granted, the investor then moves to .‫طﺒﯿﻌﺔ اﻟﻤﺸﺮوع وﻣﻊ اﻟﺠﮭﺎت اﻟﻤﺎﻟﻜﺔ ﻟﻸرض‬
complete the remaining contractual
procedures with the relevant sectors and ‫ﺛﺎﻟﺜﺎً – ﺗﻨﻔﯿﺬ اﻟﻤﺸﺮوع اﻹﺳﺘﺜﻤﺎري‬
entities owning the land, in each case based
on the particular nature of the project. ‫ﻻﺑﺪ أن ﯾﻘﻮم اﻟﻤﺴﺘﺜﻤﺮ ﻓﻲ ھﺬه اﻟﻤﺮﺣﻠﺔ ﺑﺈﻧﺸﺎء وإﻗﺎﻣﺔ‬
‫ﻣﻨﺸﺂت اﻟﻤﺸﺮوع طﺒﻘﺎً ﻟﻺﺟﺎزة اﻹﺳﺘﺜﻤﺎرﯾﺔ أو اﻟﻌﻘﺪ‬
Third – Investment Project ‫ ﺳﻮاء ﻛﺎن ﻣﺸﺮوﻋﺎً ﺳﻜﻨﯿﺎً أم ﺗﺠﺎرﯾﺎً أم‬،‫اﻻﺳﺘﺜﻤﺎري‬
Implementation ‫ ﯾﺤﺪد ﻗﺎﻧﻮن‬،‫ ﺑﺎﻹﺿﺎﻓﺔ إﻟﻰ ذﻟﻚ‬.ً‫ﺻﻨﺎﻋﯿﺎً أم زراﻋﯿﺎ‬

At this phase, whether the project was .‫اﻹﺳﺘﺜﻤﺎر إﻟﺘﺰاﻣﺎت ﻣﻌﯿﻨﺔ ﻻﺑﺪ أن ﯾﻠﺘﺰم اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬
granted for residential, commercial,
industrial or agricultural purposes, the ‫ﺧﻼل اﻟﻤﺮﺣﻠﺔ اﻟﺜﺎﻟﺜﺔ ﯾﺘﻤﺘﻊ اﻟﻤﺴﺘﺜﻤﺮ ﺑﺎﻟﻜﺜﯿﺮ ﻣﻦ‬
investor must establish and build project ‫ وﻓﯿﻤﺎ ﯾﻠﻲ ﺑﻌﺾ اﻟﻤﺰاﯾﺎ واﻹﻋﻔﺎءات اﻟﺘﻲ ﯾﻘﺪﻣﮭﺎ‬.‫اﻟﻤﺰاﯾﺎ‬
facilities in accordance with the investment
license and/or the investment contract. :‫ﻗﺎﻧﻮن اﻹﺳﺘﺜﻤﺎر ﻟﻠﻤﺴﺘﺜﻤﺮﯾﻦ‬
Additionally, the National Investment Law
outlines certain obligations that the investor ‫"إﻋﻔﺎء اﻟﻤﻮﺟﻮدات اﻟﻤﺴﺘﻮردة ﻷﻏﺮاض اﻟﻤﺸﺮوع‬
must fulfill. ‫اﻹﺳﺘﺜﻤﺎري ﻣﻦ اﻟﺮﺳﻮم اﻟﻜﻤﺮﻛﯿﺔ طﻮل ﻓﺘﺮة ﺗﻨﻔﯿﺬ‬

During the third phase, the investor enjoys ".‫اﻟﻤﺸﺮوع وﻟﻜﺎﻓﺔ ﻣﺮاﺣﻠﮫ‬
numerous advantages. The following are just
some of the benefits and exemptions
provided to investors by the National
Investment Law:

The National Investment Law states that
“Assets imported for the purposes of the
investment project shall be exempt from
import duties for the duration of project
implementation and all phases of the
project.”

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