Forming a company in Iraq moves through a sequence of stages, beginning with choosing the legal form best suited to the activity and available capital, and ending with the certificate of incorporation and the formal start of operations.
Choosing the legal form
Company Law No. 21 of 1997, as amended, provides for several forms, most prominently the limited liability company, the joint stock company and the sole proprietorship. Each differs in minimum capital, number of partners and the scope of liability.
Required documents
- A certified memorandum of association.
- Identity documents for partners, and passport copies for foreign nationals.
- Proof that the capital has been deposited with a licensed bank.
- Title deed or lease for the company head office.
Practical notes
Review the drafting of the memorandum carefully before certification: amending it later requires additional procedures and fees. Defining the scope of activity precisely also spares the company difficulties when contracting or bidding for tenders.
