CORPORATE SERVICES IN IRAQ

Legal Services In IRAQ

We provide numerous Legal Services in Iraq that can provide excellent advice as ‘one stop shop’ for all international corporations and entities looking to do business in Iraq.  

Due to the significant international investment in Iraq our Attorneys in Dubai & Iraq, are well placed with over 20 years of combined legal experience in Iraq to assist international companies with branch and company registration. We have specific experience providing legal advice to international corporations relating to intellectual property, product distribution, labor law, taxation law, oil & gas, energy sector, corporate and commercial law relating to entity structure and incorporation.

We also have a specialised experience in the Defence sector with numerous defence contractors worldwide now undertaking business with in the UAE and Iraq.

Legal Services In IRAQ

There are many advantages to doing business in Iraq. Foreign entities can set up branches in Iraq and do business even if they are fully foreign-owned. Iraqi ownership of at least 51% is required to establish a limited liability company in Iraq. In addition, there are some sector specific rules, which require full or partial national ownership to obtain certain types of licences and approvals (for example, this includes pharmaceutical companies and commercial agencies). We have significant experience in obtaining registration in all sectors.There are no exchange control or currency regulations in Iraq.

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The main reporting requirements to maintain registration include submitting yearly-legalised financial statements and maintaining the registration requirements.The base minimum capital requirement is IQD1 million for every activity listed in the entities’ articles of incorporation. Other capital requirements apply for specific types of activities.Shares can be offered for non-cashconsideration.Limited liability companies (LLCs) are managed by an executive manager.

As a general rule, there is no restriction on foreign managers. However, certain types of activities require an Iraqi executive manager.Directors and officers are not liable for an LLC’s obligations. However, they can face criminal liability for acts carried out by them in the name of and for benefit of their respective legal entities. It is worth noting that most common criminal sanctions are not typically applicable to juridical persons.Parent companies are not liable for subsidiary LLC’s.

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    Registration Requirements

    appointment of a legal advisor.
    appointment of a legal auditor.
    Submitting a local lease contract
    Reserving a commercial name.
    The appointment of an entity manager.
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    Legal Services In IRAQ

    We employ numerous Iraqi Attorneys in Dubai & Iraq who can provide excellent advice as a ‘one-stop shop’ for all international corporations and entities looking to do business in Iraq.  Due to the significant international investment in Iraq we are well placed with over 20 years of combined legal experience in Iraq to assist international companies with branch and company registration. We have specific experience providing legal advice to international corporations relating to intellectual property, product distribution, labor law, taxation law, oil & gas, energy sector, corporate and commercial law relating to entity structure and incorporation.

    We also have a specialised experience in the Defence sector with numerous defence contractors worldwide now undertaking business with in the UAE and Iraq.