Foreign Companies Required to Update Legal Status in Iraq – Official 60-Day Compliance Notice

Foreign Companies Required to Update Legal Status in Iraq – Official 60-Day Compliance Notice Etihad Law Firm would like to draw attention to a recent announcement issued by the Iraqi Companies Registrar, identifying a number of foreign companies operating in Iraq that are required to update their legal status in accordance with the Regulation of Branches of Foreign Companies No. (2) of 2017 (as amended). According to the Registrar’s notice, foreign companies included in the announcement must complete the required compliance procedures within sixty (60) days from the date of publication. Under the notice, affected companies are required to take one or more of the following actions within the specified timeframe: Submit updated legal and corporate information confirming the company’s status and activities in Iraq; Settle any accumulated fines or penalties, where applicable; or File an official application for branch liquidation if operations in Iraq have ceased.   Non-compliance within the statutory period may result in further regulatory action, financial penalties, or restrictions imposed by the competent Iraqi authorities.   How Etihad Can Assist Etihad provides legal and regulatory advisory services to banks, financial institutions, and businesses, supporting compliance with applicable laws, regulations, and regulatory guidance issued by any competent authorities.  

Companies Registration

Companies Registration Companies Registration Department #Iraq has announced its circulation to accepting the financial statements of 2024 prepared by the accountant and signed by the company’s general manager (in their draft form) to cut the timeframe required for its submission by 7 Oct 2025 due to the momentum within the Accountants and Auditors Syndicate regarding the procedures for attesting financial statements. The final certified version must be submitted before the end of 2025.

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.”

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.