Contractual Procedures

Contractual Procedures Etihad Law Firm represented by Ahmed Hankawi had the honor to represent KEEPT Investment Group in my capacity as Legal Advisor, finalizing the contractual procedures with the Ministry of Agriculture / State Company for Agricultural Supplies, for the establishment of a fully integrated plant for the production of blue ammonia and urea fertilizer, with an annual production capacity of 1,150,000 tons, in partnership with Toyo (Japan) and KBR (USA). This project is a strategic milestone in Iraq and the region, adopting cutting-edge, eco-friendly technologies in fertilizer production that align with the goals of the green economy and sustainable development. The project will contribute to:🔹 Reducing dependence on imports🔹 Supporting national production🔹 Creating direct and indirect job opportunities🔹 Enhancing food security by empowering the agricultural sector Sincere thanks to H.E. the Minister of Agriculture and to the Director General of the State Company for Agricultural Supplies for their trust and partnership.

Commercial Agency Law

Commercial Agency Law The Iraq State Council has issued an official interpretation of #Commercial_Agency Law No. 79 of 2017 regarding the 100% Iraqi capital ownership requirement for companies operating as commercial agencies.  • #Foreign_investors may own Iraqi companies in the commercial agency sector, but only through an Iraqi shareholding company. • The 100% Iraqi capital rule applies only to direct owners of the company requesting the license. • This requirement does not extend to shareholders of parent companies that own the applicant company. The law also recognizes an Iraqi company as a separate legal entity, independent from its shareholders, and does not trace ownership beyond the direct owner. ✅ This clarification opens opportunities for foreign investment in #Iraq’s commercial agency sector, provided the legal structure follows these requirements.

Certified Company Documents

Certified Company Documents One of the prevalent challenges we encounter in Iraq pertains to the recurrent demand from governmental departments for the most recent copies of certified company documents annually. This process, while crucial, imposes a significant burden on the Registrar of Companies due to the sheer volume of requests received. In response to this issue, the Registrar has issued a directive addressed to key governmental institutions including the Cabinet, the Central Bank of Iraq, and all other ministries. The aim of this directive is to streamline procedures for companies and alleviate the congestion experienced at the Company Registration Department. Hence, the Registrar propose that companies are to be exempt from the requirement to renew certification of the company’s documents issued within one year from its issuance certification. This adjustment seeks to mitigate the annual surge in workload, benefiting both companies and governmental entities alike.

Companies Registration Dept.

Companies Registration Dept. the Companies Registration Dept. has issued new instructions regarding the registered representative offices in Iraq which is as follows: “We invite all the representative offices of foreign companies to approach the Companies Registration Dept. to adapt their legal status or deregistration their offices in accordance with the amended regime for branches of foreign companies No. 2 of 2017, which is in order to provide legal guidance and directions to facilitate the necessary procedures to adapt the legal status of these offices in accordance with current legislation. All concerned offices should complete the required procedures in a timely manner and meeting the specific legal requirements by either adapting the representative office to a branch or deregistration.”

Corporate Guide 2025

Corporate Guide 2025 offers an overview of #Iraq’s #tax system, incorporating insights from #Etihad_Law_Firm on recent developments and trends in corporate and taxes, along with #Hinka_Tax_Solutions contributions on the legal and practical aspects of taxation in the Iraq. It serves as a vital resource for businesses and professionals navigating Iraq’s tax landscape.

𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁

𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁 In accordance with Prim Minister instructions, requiring all local and #foreign companies that #shareholders and general manager submit the latest bill has been paid and don’t have any outstanding water and electricity bills owed to #government directorates. This announcement will implemented starting 6 Apr 2025, no transaction, documentation will be processed unless an updated bill and other required documents have been submitted.

Overview of Iraq’s General Business Law

Ahmed Hankawi – Recognised Lexology prepared by the #Etihad team Ahmed Al Hankawi Shayma Azeez Hatem Farah Mahmood in collaboration with #ChambersPartners, this guide provides key #insights into Iraq’s business landscape. It covers essential considerations for market entry, recent legislative changes, investment opportunities, #government priorities, potential challenges, and strategies for overcoming them.

Foreign Banks in Iraq: Branch vs Subsidiary vs Representative Office

Foreign Banks in Iraq: Branch vs Subsidiary vs Representative Office Foreign financial institutions entering Iraq may structure their presence as a branch, subsidiary, or representative office, each with distinct regulatory and commercial implications. Market Entry Models Branch: operational presence allowing regulated banking activities; requires CBI licensing and minimum capital allocation. Subsidiary: locally incorporated company fully subject to Iraqi banking regulations, tax, and corporate governance laws. Representative Office: non-operational structure limited to market research, promotional and liaison functions; does not conduct financial transactions. Strategic Considerations Regulatory supervision & reporting Capital adequacy & prudential requirements Taxation and profit repatriation Local management & staffing obligations Long-term market strategy