13 steps to incorporating in Iraq in 2022

Since 2003, Healy Consultants Group PLC assists multi-national Clients’ with Iraq company/branch registration, without travel by shareholders and directors and bank signatory. This web page helps our Clients visualize the company incorporation process:

  • Pre-incorporation steps

    1. Our Client i) settles our firm’s engagement fee ii) signs our engagement letter and iii) submits the necessary due diligence documents;
    2. Healy Consultants Group PLC prepares a detailed engagement plan, including a detailed company/branch incorporation/registration process strategy that lays out steps and timelines, thereby enhancing transparency and setting Client expectations;
    3. Our Client provides us with i) the intended corporate structure and ii) three names (in order of preference) for their company/branch and iii) a Power of Attorney (PoA) allowing us to act on behalf of the Client;
    4. In the event the proposed Iraq entity is a subsidiary/branch, our Client to also provide i) a Board Resolution and ii) two year financial statements from the parent company. All documents must be translated to Arabic and legalized in country of origin;
  • Incorporation steps

    1. Healy Consultants Group PLC will proceed to reserve the company/branch name with the Baghdad Chamber of Commerce and Federation of Chambers of Commerce;
    2. Healy Consultants Group PLC appoints a local lawyer for our Client to draft the Memorandum and Articles of Association on the proposed company. Our Iraq Team also assists our Client to secure a business address and sign a lease agreements to support their company setup;
    3. Our Iraq Banking Team approaches local Iraqi banks to i) open capital account for our Client’s company ii) deposit the proposed share capital and iii) secures a capital deposit receipt. Our Client can withdraw these funds after company incorporation;
    4. Healy Consultants Group PLC applies for and obtains Tax Clearance Certificates for all the proposed company’s shareholders from the General Commission for Taxes;
    5. Our Incorporation Team the collates all documents including i) proof of capital deposit ii) shareholder tax clearance iii) articles of association iv) lease agreement v) details of the shareholders and directors and submits a formal application at the Registrar’s office at the Ministry of Trade and obtains Registration Certificate;
  • Post-incorporation steps

    1. Healy Consultants Group PLC assists our Client to i) make a new company seal and ii) register the company with the General Commission for Taxes;
    2. Healy Consultants Group PLC helps our Client complete business bank account activation in Iraq and secure internet banking access, if available. Some Iraq banks may require our Client to i) first secure an Iraq residence permit or ii) appoint a local manager as part signatory to the account or iii) travel to the local branch for a face-to-face interview;
    3. If required, Healy Consultants Group PLC assist our Client to i) register the accounting books with the General Body of Taxes and ii) register employees for social security;
    4. Following engagement completion, Healy Consultants Group PLC couriers a full company kit to our Client, including original Iraq corporate documents, unopened bank correspondence and a Client feedback survey.
  • Conclusion

    To advance Iraq business set up, communicate with Healy Consultants Group PLC through the contact details below.

Contact us

For additional information on our company incorporation services in Iraq, please contact our in-house country expert, Mr. Seth Ochieng, directly:
Director of Client Engagements - Seth
  • Mr. Seth Ochieng
  • Director of Client Engagements
  • Contact me!
Ministry of Trade Ministry of Foreign Affairs Iraq stock exchange central bank of Iraq iraqi trade information center baghdad chamber commerce