Licensing Of Investment Projects

The Federal Investment Law requires investors planning investment projects in Iraq to obtain a license from the NIC, in Baghdad, and from the equivalent bodies in the regions (IQLEEM) and governorates, before the establishment of the project. The Law lays down the procedure and the conditions required for a license, and also designates the competent authorities for the grant of a license, in Baghdad, as well as in the regions and governorates. The procedures and conditions appear to be uncomplicated, and are intended to facilitate the grant of a license and to encourage investors. This chapter deals with the procedure for applying for a license, the conditions required, and the competent organs for the grant of the license, their composition and functions, at the federal, regional and governorate levels, with some concluding remarks.Keywords: Federal Investment Law; IQLEEM; Iraq; NIC