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Economy News Baghdad:
The Ministry of Commerce's registration department stated that foreign companies are prohibited from carrying out any business activity or opening their headquarters in Iraq if they do not grant the registration license.
The company's general manager, Abdul Aziz Jabbar, said in a press statement received by "Economy News" that "the system of branches of foreign companies No. 2 of 2017 stipulated in paragraph 14 that the foreign company is prohibited to conduct any business or open a headquarters in Iraq if not The registration fee shall be awarded in accordance with the provisions of the Law. "
He called on branches and offices of foreign companies currently in Iraq registered and unregistered to "adapt their legal status with the provisions of this system within one year from the date of its entry into force."
He added that "the second article of the system confirmed that each foreign company wishing to engage in commercial activity in Iraq and went on to establish two years and opened a branch to provide the required documents translated into Arabic and certified by the competent authorities in the country of incorporation and the form of application for Ijara and the Foundation Agreement and the basic system of the foreign company and certificate And the company has a window and a document authorizing the manager in charge of managing the branch and final accounts for the last financial year. "
He explained that "the system stated in paragraph 13 that the foreign company is committed to submit a report to the Registrar when starting any commercial activity in Iraq in accordance with the form of activity prepared for this purpose in addition to the commitment of government agencies and the public sector and mixed to provide the Registrar with a report on any commercial activity carried out with the branches of foreign companies" .
Trade: Prohibition of foreign companies from carrying out any commercial activity in Iraq if the lic
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