Investment Opportunities and Information
Sectors with strongest demand and opportunity in the Kurdistan Region include:
- Construction services
- Materials and supplies
- Energy – oil and gas
- Professional services
- Select tourism products/services
- Hotels and hospitality
- Creative/profitable arts and culture entertainment products
- Healthcare
Investment Law
A liberal foreign investment law was ratified in June 2006 providing incentives for foreign investors including the possibility of owning land, up to 10 year tax holidays, easy repatriation of profits and removal of tariffs on exports and imports related to the project.
The foreign investor has the right to invest for himself without a partner or choose a partner as he likes. Investors have the right to employ foreign laborers in their projects and the foreign laborers have the right to transfer their gained money to their original countries. Foreign and Iraqi investors have the right to transfer all his gains to his original country or to any other countries he likes.
About the Board of Investment (BOI)
The Board of Investment in the Kurdistan region works in liaison with relevant governmental bodies and other professional institutions, promotes domestic and foreign investment to achieve economic growth.
The BOI mission is to create investment opportunities, provide best services to investors and work to rebuild Iraq through the Kurdistan region. The BOI works to ensure that simple, transparent and legalized procedures are applied.
How to Invest
1. Contact a KRG liaison office.
The KRG has regional liaison offices all over the world to facilitate communication between interested investors and appropriate KRG contacts in Kurdistan. KRG representations abroad will disseminate crucial sectoral information relevant to investors’ interests.
2. Visit the Kurdistan Region.
Kurdistan has largely been insulated from the violence in Iraq. The KRG has created a stable security situation where foreigners are welcomed. With incomes on the rise, Kurds are eager to forge long-lasting business partnerships with international investors. In order to clear up any misconceptions about the Region, the KRG strongly recommends that interested investors meet with local government and business leaders, and witness Kurdistan’s outstanding economic progress first-hand.
3. Submit an application to the Board of Investment.
The Board of Investment is the KRG institution that reviews and processes investment applications. Its “one-stop-shop” design eliminates bureaucratic hassle and provides a decision within 30 days of submission. At this stage, the Investment Board grants all relevant permits and licenses. An application can be found on the Investment Board’s website: www.kurdistaninvestment.org
4. Talk to other investors in the Kurdistan Region.
The KRG Department of Foreign Affairs plays an intermediary role by connecting interested investors with existing investors and local business leaders who have experience in the Region.
5. Set-up shop.
The KRG works alongside foreign investors to create a mutually beneficial economic relationship. While our relatively untapped markets show promise for investors who arrive early, foreign direct investment is also essential for advancing Kurdistan’s economic development and integration into the world economy.
