Kurdistan is welcoming regional and international investors and entrepreneurs attracted by the prospect of fresh business opportunities, a warm welcome, robust security, and improving quality of life.
Kurdistan Board of Investment has issued a total of 896 licenses with a total investment capital of $52.1 billion since 2006. Within these data, $42.3 billion belonged to local companies, and $6 billion to foreign investors from 23 different countries. Twenty-seven joint foreign investment projects worth $3.6 billion has been completed since 2006.
Kurdistan investment law stipulates that foreign investors can repatriate their profits in full, are treated equally under the law, are entitled to all the capital of any project, and enjoy the same rights as local investors to purchase and own land.
In 2019, a total of 68 investment projects were issued with a total value of approximately $2.7 billion, indicating that the infrastructure and economy of Kurdistan continue to expand considerably.
Kurdistan investment law provides tax incentives and exemptions for foreign investors who are involved in certain sectors such as electricity, agriculture, health and environment, infrastructure and education. The KRG intends to step up structural reforms aimed at further attracting investment to these sectors.
A foreign investor shall be entitled to send capital back abroad upon winding up or disposal of the project without prejudice to applicable laws and regulations regarding taxes and customs.
New arrivals find it easy to integrate. An open society is matched by a level playing field for business and opportunities for people with skills and capital.
Out of a total of 23 source countries, the top source countries for foreign direct investment are the UAE, Turkey, Lebanon, Egypt, the US, New Zealand, Germany, Iran, Sweden, and the UK.
The KRG’s initiative to attract investors and skilled talent will enhance the country’s workforce.
The KRG’s investment policy focuses on boosting investor confidence and building a true partnership between the public and private sectors in order to attain its long-term economic sustainability goals. It is expected that public-private partnership will create new investment opportunities and assist the flow of capital and knowledge in the Kurdistan Region of Iraq.
Considering its visionary leadership, robust security, and investment-friendly regulations, Kurdistan has the potential to become the heart of Iraq’s manufacturing hub.
The KRG aims to create a platform as a business enabler. Kurdistan represents a strong platform for entering the Iraqi market, which contains 39 million consumers. The region needs a secure and investment-friendly destination like Kurdistan to facilitate doing business and trade with Iraq. Kurdistan allows businesses to benefit from the transit of goods moving through Kurdistan to other parts of Iraq and helps regional trade. Considering its visionary leadership, robust security, and investment-friendly regulations, Kurdistan has the potential to become the heart of Iraq’s manufacturing hub.
KRG Investment Law, Article 5: A Project shall be exempt from all non-custom taxes and duties for 10 years starting from the date of providing services by the Project, or the date of actual production.