Economy

A new, liberal foreign investment law was ratified in June 2006 providing incentives for foreign investors such as the possibility of owning land, up to 10-year tax holidays and easy repatriation of profits.

To rapidly benefit from its oil and gas resources, the KRG has signed dozens of production sharing contracts with companies from 17 countries.

Investment in the Kurdistan Region
For investment enquiries please visit the website of the Kurdistan Region Board of Investment. The Kurdistan Region Investment Law outlines the Region’s policy for direct investment, and has been instrumental in promoting economic growth.
Kurdistan Investment Board Head Office
Erbil City, In front of the Council of Ministers Building, 30 Metre Street
Telephone: +964 (0) 66 2531559 / 253 5010
Email: [email protected]

Slemani Branch
Slemani City - Hammdi Street, Kani Askan District
Telephone: +964 (0) 53 312 39 07 / 312 3918
Email: [email protected]

Duhok Branch
Duhok City - 1st Shubat Street
Telephone: +964 (0) 62 7627175 / 7627 013
Email: [email protected]

The Kurdistan Region: Invest in the Future was a publication produced by the KRG providing an overview of investment opportunities in many sectors. The PDF versions can be viewed and downloaded from these links:
Investment guide 2011: The Kurdistan Region, Invest in Democracy
Investment guide 2009: The Kurdistan Region, Invest in the Future
Investment guide 2008: The Kurdistan Region, Invest in the Future

Chambers of Commerce; Unions:

* Erbil Chamber of Commerce
President: Mr. Dara Jalil Khayat
Website: www.erbilchamber.org
Email: [email protected]
Tel: +964 (0)66 2222014, +964 (0)66 2222162, +964 (0)66 2230671
Visiting address: Aras Street, Chamber of commerce BLDG., Erbil, Kurdistan Region, Iraq

* Slemani Chamber of Commerce
President: Mr. Sirwan Mohamed Mahmood
Website: www.sulcci.com
Email: [email protected]; [email protected]; [email protected]
Tel: +964 (0)53 312 3293 / 3772 / 6845. Fax: +964 (0)52 312 6985
Visiting address: Sulaimany Salim St, Opp. Sulaimany Museum, SCC Building, Kurdistan Region, Iraq

* Duhok Chamber of Commerce
President: Mr. Ayad H. Abdul Halim
Website: www.duhokchamber.com
Email: [email protected]; [email protected]
Alternative email: [email protected]
Tel: +964 (0)750 471 7827
Mr. Abdulsalam Salih al-Doski - Adviser, Tel: +964 (0)62 722 1647
Mr. Mustafa Ramazan Ahmed - Manager, Tel: +964 (0)62 722 4633

Kurdistan Contractors Union
The Kurdistan Contractors Union represents local contracting companies
President: Mr. Ahmad Aziz Rekani
Website: www.balendaran.com
Email: [email protected]
Tel: +964 (0)53 321 0496
Tel: +964 (0)7701 433333
Tel: +964 (0)7701435822
Tel: +964 (0)750 112 6969

Importers and Exporters Union of Iraq, Kurdistan Region
The Kurdistan branch of the Importers and Exporters Union represents local companies that trade internationally.
Chairman: Mr. Mustafa Abdulrahman Abdullah
Website: www.ieku.org/English.aspx
For contact details click here

Trade and Industry
For trade enquires please contact the Ministry of Trade and Industry

Trade Missions

The KRG welcomes inward trade or investment missions. Companies and trade associations can contact the KRG for advice on visiting the Region and exploring business opportunities.
Contact the KRG Department of Foreign Relations at [email protected] or your nearest KRG Representation.

The KRG regularly welcomes and assists inward business delegations from many countries, including from the Czech Republic, France, Germany, Italy, Japan, Jordan, South Korea, Lebanon, Spain, Turkey, the US and the UK. Please contact your country’s trade ministry or trade associations to enquire about their missions to the Kurdistan Region.

Registering a company or branch in the Kurdistan Region

Note: It is strongly advised to seek appropriate local legal assistance Requirements for incorporating a limited liability company in the Kurdistan Region and documents/actions needed:

  • Reservation of name of proposed company at Chamber of Commerce;

  • Completed application form;

  • Draft company statement/company contract (similar to a memorandum of association);

  • Certificate of incorporation;

  • Articles of association/charter;

  • Board resolution approving incorporation of a subsidiary in the Kurdistan Region;

  • Power of attorney in favor of a Kurdistan Region lawyer to undertake
    Incorporation procedures;

For each corporate shareholder or each individual shareholder:

  • Passport copy;
  • Power of attorney in favor of a Kurdistan Region lawyer;
  • Lease of premises in the Kurdistan Region;
  • Evidence of residency of proposed managing director in the Kurdistan Region;
  • Deposit of initial share capital (minimum one million Iraqi dinars);
  • Appointment of statutory lawyer;
  • Appointment of statutory accountant

All documents submitted to the Companies Registry must be in Kurdish or Arabic or accompanied by a translation. Documents signed outside Iraq must be notarized and legalized at the nearest KRG Representation Office or Iraqi Embassy.

Requirements for registering a branch office of a foreign company in the Kurdistan

  • Region and documents/actions needed:
  • Completed application form;
  • Certificate of incorporation of foreign company registering branch office (“Parent Company”);
  • Articles of association/charter of Parent Company;
  • Power of attorney in favour of a Kurdistan Region lawyer to undertake registration procedures;
  • Certificate of incorporation of each corporate shareholder in Parent Company;
  • Articles of association/charter of each corporate shareholder in Parent Company;
  • Copy of passport of each individual shareholder in Parent Company;
  • Audited financial statements of Parent Company;
  • Letter from Parent Company authorizing registration of the branch office;
  • Letter from Parent Company undertaking to assume liabilities of the branch office;
  • Lease of premises in t he Kurdistan Region;
  • Evidence of residency of proposed chief management official in the Kurdistan Region;
  • Appointment of statutory lawyer;
  • Appointment of statutory accountant

All documents submitted to the Companies Registry must be in Kurdish or Arabic or accompanied by a translation. Documents signed outside Iraq must be notarized and legalized at the nearest KRG Representation Office or Iraqi Embassy.

A local lawyer and accountant can undertake most of the procedures outlined above. To find a local lawyer please contact the Kurdistan Lawyers Syndicate.

Working in the Kurdistan Region Oil & Gas Services Sector

Please click here for official instructions; also available at the KRG Ministry of Natural Resources website.