The Investment Law of the Kurdistan Region
The investment law is one of the most friendly to foreign investors in the entire Middle East.
The Kurdistan Region investment law was passed in July 2006 and an Investment Board was created to manage and promote investment. For more details, please see the full text of the investment law on the official Kurdistan Regional Government website.
The Kurdistan Region investment law was passed in July 2006 and an Investment Board was created to manage and promote investment in Kurdistan. Some highlights of the law are:
- Foreign and local investors and capital are treated equally under the law (Article 3).
- Foreign and local investors are entitled to own all the capital of any project (Article 3).
- The government allocates free or reduced-price land to investment projects that fulfil the criteria (Article 4).
- Foreign and local investors are equally entitled to buy and own land for investment purposes (Article 4).
- Investors get a 10-year non-custom tax break once they start production or service provision. Raw materials and equipment used in production also get customs relief (Article 5).
The Investment Board
The Kurdistan Regionâ€™s Investment Board, established in summer 2006, oversees and promotes foreign and local investment and is already issuing licences to suitable investors. The Investment Board was established by the investment law to help carry out the lawâ€™s provisions and to facilitate strategically important investment projects.