It is possible to register a branch of the main company in Iraq, according to the registration laws of Iraq. Foreign corporations can start commercial and industrial activities according to current regulations by establishing a company branch in the same country where all the ownership and shares belong to the parent company. Corporate income tax is fifteen percent of annual net profit. By registering a branch of a foreign company in Iraq, the possibility of participating in real estate rental tenders in Iraq, opening a dinar account, receiving one-year residence and multiple business visas, the possibility of renting property, office, warehouse, car, etc., the possibility of quick referrals to offices. trade unions and offices in Iraq and continuous evaluation of the commodity exchange, competitors, market rates, etc., quick access to economic regulations before other foreign suppliers, the possibility of direct import of goods by foreign persons to Iraq, the possibility of exporting all kinds of Iraqi goods and re-exporting from Iraq abroad, early access to the requests of Iraqi public and private sector buyers; The possibility of better follow-up of monetary and bank claims from importers and buyers; The possibility of membership in a number of unions and economic and industrial organizations; And many other options that can be used.
.Actions related to branch registration in Iraq
The establishment of a branch of an foreign company in Iraq is done in accordance with the commercial laws governing the Ministry of Commerce of the Republic of Iraq, and the newly established branch can start commercial and industrial activities in all fields. Of course, activities in some fields require a special license from the relevant Ministry of Home Affairs. In order to register the branch, we need to go through legal formalities, the first step of which is the granting of a power of attorney and a private contract with a lawyer of an Iraq bar associations, because in the country of Iraq, in the field of registration, only actions are taken by a lawyer with a special license. The next step is to complete the necessary documents, which include providing the certificate of establishment and registration of the company as approved through the competent centers of The country of the parent company and providing a copy of the articles of association. and the declaration of the company, which has official approval through the above authorities, and the latest state/financial balance sheet of the company at the end of the year with the report of the board of directors, as well as a copy of the official auditor’s certificate of the company from the registered accounting offices and the minutes of the meeting related to the will of the parent company based on Establishing a branch in Iraq and appointing a CEO is also one of these cases, as well as full and legal financial obligations towards the branch in Iraq and issuing a power of attorney from the company to introduce the Head of the branch , and issuing a power of attorney for company registration to an Iraqi lawyer. Action should also be taken by the director of the Iraq office. .Registration Office The balance sheet of the last two year. It is worth mentioning that all the documents must be translated into Arabic by an official translation agency and approved by the Iraqi Embassy in The country of the parent company. List of shareholders and company changes Initial announcement of the establishment of the parent company in the origin country must be brought, At the end, there are two separate letter of commitment forms that must be signed by the managing director of the parent branch. Other secondary documents, such as a scan of the branch manager’s passport or the branch office along with his birth certificate, are required and I must refrain from mentioning it due to the length of the words. Then, the process of choosing the brand name and security inquiries will be done in line with the request of the branch, and finally, after the legal formalities, the branch of the company will be registered in Iraq.