company registration in Iraq
Iraq is one of the greatest opportunities of exporting for Iranian companies in region. Border and cultural proximity have provided the grounds for extensive cooperation between two countries.
Iraq is the second oil exporter in the world and is one of the greatest commercial targets in the world which has the suitable grounds of investing and services.
For more information about the process of company registration in Iraq, we should consider it in two parts:
Executive requirements of company registration
• Company registration with the possession of real and legal persons is possible.
• According to the law passed on 9/9/2019, the registration of a company is possible only with a 51% stock in the Iraqi partner.
• Making an initial deposit which is known as the company`s registration capital and must be at least 1000,000 dinars.
• Choosing the trade name in Arabic which it has to be two or three syllables
• Having an office with valid address for presenting to company registration office.
Legal requirements of company registration
• According to rules of company registration administration, real and legal persons who intend to register a company in Iraq must fill out the two versions of the applicant`s form for company registration which are in company registration administration.
• The following documents must be given to company registration office when you deliver the filled form:
• Company`s statute signed by founding board
• Bank certificate based on paying the company`s capital
• Paying the costs relevant to company
• Presenting shareholders` personal documents
• Applicant of registration is a legal person just after registration date and issuing commercial license and must follow the rules and laws of Iraq judiciary.
• Registration reference sends a version of registered commercial office names with special code to Tax and Labor Planning and Social Affairs Department and other competent government authorities.
• Company registration office inserts the summary of registered company resume and its activity in website of Ministry of Commerce in order to be informed about the activity of the company newly founded for the people.