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.