Establishing a Joint Stock Company (JSC) in Iraq is governed by the Iraqi Companies Law and supervised by the Companies Registration Department at the Ministry of Trade. A JSC is suitable for larger investments and projects, as its capital is divided into shares that may be transferred in accordance with the law.

Key Requirements

• Minimum number of shareholders: as prescribed by Iraqi law
• Board of Directors: appointed in accordance with statutory requirements
• Capital: subject to minimum capital rules and deposit requirements
• Company objectives: must be lawful and clearly defined

Step-by-Step Process

1. Reserve the company name
   Obtain name approval from the Companies Registration Department.
2. Prepare incorporation documents
   Draft the Articles of Association, shareholder details, board structure, capital allocation, and company objectives.
3. Capital deposit
   Deposit the required capital into a local Iraqi bank and obtain confirmation.
4. File the incorporation application
   Submit the application and supporting documents to the Companies Registration Department.
5. Regulatory review and approval
   Authorities review the application for legal and regulatory compliance.
6. Company registration
   Upon approval, the JSC is officially registered and issued a certificate of incorporation.
7. Post-registration steps
   • Open permanent bank accounts
   • Register with tax and social security authorities
   • Obtain sector-specific licenses, if required

Legal Status & Compliance

A Joint Stock Company acquires separate legal personality upon registration. Ongoing obligations include corporate governance compliance, board reporting, shareholder meetings, and regulatory filings.