Nowadays Iraq security improved and companies from all around the world have the possibility to do business here. However, before doing this step, they have to be sure that they understand the laws and how to deal with the political situation. There are many businesses, which would like to bring their services in this country, because they realized that doing business here is not scary at all, but they have to figure out how to work according to the laws and regulations from this area. Iraq became lately a stable region and companies found a window of opportunity to expand their businesses. All companies that want to do business in Iraq have to become comfortable with the security situation, and to find a reliable company that can offer them help dealing with the process of coming on the business market. Actually many specialists recommend for the companies that intend to expand their business in Iraq to collaborate with a company which can provide them complete information and, which understands the laws. |
They would have to form a trade representative office here, if they would want to establish a commercial presence. An independent advising company in this process can assist them, because only if they register they will receive the right to engage into business activities. Even if the procedure of registration might seem simple for a local, a foreigner might get overwhelmed, and he will need help. In addition, companies have the possibility to form and operate through a branch office, which is considered the quickest way to engage in business development activities. They have the possibility to choose from a wide variation of incorporation options, and in this situation, a professional advising company should assist them. An important step in the process of expanding is to get a Kurdistan visa, because only in this way the companies will meet the legal requirements of the area.
The most important advice specialists are offering to foreign companies, which intend to do business in Iraq is to collaborate with a company to assist them because the tax system might perplex them. There are many ambiguities, which have to be fully understand in order to be able to do business. During the process, companies also have to apply for and obtain an investment license from a regional or national investment commission to avail the incentives. Also, when a company wants to do business in this region, it might also want to own a property, but this is not allowed by the intern rules. The laws only permit foreign companies to have a long-term lease, but not to owe a real property. But there are some exceptions of the laws in three of the Kurdistan regions, so in case a company is interested doing business in that particular area, it should ask for the support of an advising company to see exactly where and how it can do so. If there are companies that intend to expand in Iraq there are no reasons why they should not do it, they only have to consider collaborating with a company, which can offer them help.
If you want to find more about how to do business in Iraq or how to get a Kurdistan visa, please click on these links!
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