New regulations were issued based on Article (4) of the Ministry of Trade Law No. 37 of 2011, with the aim of organizing the import process and facilitating foreign transfer procedures for the importers. The importer’s ID is issued by the Import Department of State Company for Fairs, Commercial Services of Iraq. Companies, factories, investment projects, scientific offices, agricultural projects, and branches of foreign companies are allowed to obtain such ID.
The importer must submit an application with the required documents, including company registration documentation, tax ID, proof of capital, an address, in addition to the personal IDs. The importer will be classified according to his activity into categories such as importing food products and electrical appliances. The importer has the right to enter only one activity within the specified classifications, and his ID can be renewed on annual basis.
The fees covering the ID’s issuance and renewal, the importer can apply one amendment to it. This ID will become part of the customs clearance and external financial transfer procedures. In case of ID misuse, it can be stopped and legal action will be taken accordingly. The regulations will go into enforcement after 90 days once the Minister of Trade ratify it, and current import IDs will continue until the date of implementing these regulations.