04/30/2013 12:00 AM
The competent department: overwhelming support of the Iraqi economy
Baghdad - Mostafa Hashemi
I mentioned the Registrar of Companies at the Ministry of Commerce high frequency recording domestic and foreign companies during the recent period. said assistant general manager of the Registrar of Companies at the Ministry of Commerce Adnan Tahir Saeed said more companies that are registered in our circle concentrated its activities in the areas of banking and construction, as well as other activities such as investment, trade and tourism offices for Hajj and Umrah.
, and most likely in an interview for the (morning) that the reason behind this trend are the facilities offered by the central in the light of his attempts to maintain the stability of the currency exchange, one of the reasons for the spread of this activity between citizens and their desire to record companies for banking.
Turning in his speech to: that the phases of the establishment of the national companies (local) where start-by-step incorporation carried out by a lawyer who specializes recorded activity of the company and the nature of its work in the record established that signed by the shareholders (owners of the Company), is also installed the company's capital in the Articles of Association to be registered in the Department of notary.
continued: are then deposit the amount of capital in a bank and is supported by a letter from the bank, as well as a book of support from the Federation of Chambers of Commerce, adding that the clearance is also required from the General Commission for Taxes in completing the transaction recording companies.
explained Said he in regards to registration of foreign companies in Iraq, it will be in coordination with the State Department and its embassies and consulates in abroad to support the accuracy of the information contained in the treatment of registration through adoption (Seal district), which supports the validity of the transaction, based on to ratifications applicable law. He pointed out that the duration of the registration of local companies ranging from 3 days to a week, and the more leaves the transaction correct, it reduces the period mentioned.
, and stressed that the decision to liquidate the company's activity is the desire of the owners (shareholders) in the absence of realized profits, and from our side we monitor the activities of each registered company by providing the final account, which reveals its financial position, and in case if they found one of the companies achieved more losses than profits, we do Bahaarha so in case the desire companies to continue to work, they tell us they سيعوضون these losses, stressing that the liquidation decision back first Finally, for the owners of the company.
And that there are large turnout on registration of companies witnessed in the commercial arena of Iraq because of its significant impact in supporting the local economy through the various activities of those companies.
and sections circle and the nature of their work Said: Chamber is composed of sections many include Department of national companies who working on the ratification of the minutes of the meetings of public bodies and companies monitor and modify contracts established (edit the name, activity, increase capital and reduce corporate transformation, merger, liquidation). Move the complaint and referral to the presidency of the prosecution for companies that exercise activity without registration or exercising an activity contrary to the activity that is installed in the Memorandum of Association and the representation of the department and the Minister in suits that are held on the circuit and Ma'aleh addition to his job.
, and pointed out that the Department establish Iraqi companies establishes national companies and the issuance of certificates based on the provisions of the Companies Law No. (21) for the year 1997 / rate and the ratification of the minutes of the General Authority Foundation.
pointed glad that the Department of Corporations is responsible for the follow-up of joint stock companies both types (mixed and private) and ratify the minutes of meetings of the General Assembly and boards of directors of these companies and modify contracts established.
He noted that the department of foreign companies responsible is the other for the registration of branches and offices of foreign companies and follow-up in accordance with the provisions of Regulation No. (5) for the year 1989 and follow-up in terms of providing information required legal annually as well as coordination with government departments and provide them with information about foreign companies that deal with them as well as with the security authorities concerned.
He stressed that the Department of monitoring and inspection shall examine the final accounts of Iraqi companies and foreign and install the observations by the study of transactions increase the capital of Iraqi companies and merge accounts and economic feasibility studies and accounts of liquidation and a detection site on companies, while the Department of Documentation and Information is responsible for the introduction of data and information on Iraqi companies and provide services Location information required for Iraqi and foreign companies (branches and offices) upon request and marking all decisions of the seizure and confiscation received from stakeholders (the Integrity Commission, Ministry of Finance, the courts MOI 000, etc.) and to answer them as well as the answer to the state departments of health of the issuance of certificates of incorporation and related documents at request of those departments for the purposes of the contract and the preparation of reports and statistics monthly, quarterly and printed books official circuit. in addition to the unit Aggregating associated with the Department of Documentation and Information, where are archived files of companies an average of 200 dossier week.
Regarding the work of Department of Commercial Agencies Said: It gives license to practice acts Commercial Agency and registration of commercial agencies for foreign companies, according to the law regulating commercial agency No. (51) for the year 2000 indicating that the department of public companies based registration and issuance of certificate of incorporation of public companies of the State and marking modifications that occur on contracts established on the basis of the provisions of the Companies Act public companies (22) 1997 as amended in addition to participating in committees and to express an opinion on the laws that brought before it, has been completed discussions on amending the Companies Law No. (21) for the year 1997 was to prepare a draft in conjunction with the General Secretariat of the Council of Ministers, which will in turn raise the draft amendment to the Shura Council State legislation.