Company Establishment
Company Establishment with Establishment Experts
Establishing a company is the first cornerstone in building the company’s economic structure. After the establishment, relationships around the company begin to form, such as internal transactions like company management, distribution percentages, and investments. Therefore, it is crucial to set a solid foundation from the beginning that protects the rights of the partners and safeguards the interests of all those who engage with the company.
One of the signs of economic and urban development in the Kurdistan Region is the increasing number of companies and their branches, whether national, regional, or international. This requires organizing their activities according to local law, as many commercial companies compete in establishing all types of companies, as well as establishing branches of foreign companies, which requires either establishing companies or registering company branches and overseeing their activities. This necessitates the application of laws based on legal expertise in this field. Here at Alhukok Law Firm, we are here for you and are capable of offering company Establishment services due to our practical and scientific expertise. Contact us now for more details
Company Establishment
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Company Establishment
Requirements for Company Establishment
Company Establishment
Required Documents for Company Establishment
To establish a successful company in Iraq or the Kurdistan Region, you need to gather certain documents and paperwork, including:
- Certified and notarized commercial registry
- Owner’s identification
- Necessary licenses from relevant authorities
- Legal power of attorney with certification
- Certificate of good conduct
- Certified copy of the lease agreement for the main office
- Proof of capital deposit for a specified amount
- General information about the company or institution's manager
- Additional licenses depending on the company’s activity
- Certified copy of the passport if you are a resident
Required
Document
for Company
Company Establishment
Company Establishment Form
The company Establishment Form varies from one company to another depending on the type, whether it’s for individual companies, joint stock companies, limited liability companies, or others. However, this Form is general and covers all the information you may need.
FAQ
Frequently Asked Questions
What is the importance of establishing commercial companies?
Commercial companies play a vital and effective role in economic markets, as they contribute to shaping economic systems and policies. Today, commercial companies are the main engine driving economic growth in nations. With the advancement of technology and the widespread use of the internet, innovation has become a cornerstone in building a strong economy for any country. New ideas help solve individuals’ daily challenges, making startups a critical part of continuously developing the products and services that markets need.
How much should be deposited in the company’s bank account?
At least 10% of the issued capital must be deposited, with this deposit increasing to 25% within three months, and to 100% within five years.
“Who are the competent authorities that issue official papers for company establishment?”
The following authorities may assist in obtaining your company’s official documentation: the Ministry of Trade (Company Establishment Division), the Ministry of Industry, the Investment Authority, the Tax Authority, and the Ministry of Economy.
What are the types of commercial companies?
General Partnership – Limited Partnership – Joint Stock Company – Partnership Limited by Shares
What is a company’s Memorandum of Associations?
It is a legal document required for every company. It defines the terms and conditions under which the company is established. The Memorandum of Associations act as the company’s constitution, outlining the rights and obligations of the partners, how the company will be managed, and how profits and losses will be distributed.
How is the Memorandum of Associations documented?
The Articles of Association are documented at the Ministry of Trade. This can be done electronically through platforms affiliated with the Ministry of Trade.
What is the importance of the Memorandum of Associations?
The importance of the Memorandum of Associations lies in the following: Defining the company’s legal framework. Specifying the rights and obligations of the partners. Organizing company management. Regulating the dividends and losses. Preventing disputes among partners.
FAQ
Why Choose Alhukok Law Firm to Establish Your Company?
Because Alhukok Law Firm has a specialized team with the speed and accuracy to complete all legal procedures and obtain the required licenses for establishing local companies, registering foreign companies and their branches—whether founded by Iraqi or foreign investors—in the Kurdistan Region and the rest of Iraq. We also handle the drafting of company contracts with both the public and private sectors, prepare annual company budgets through certified accountants, follow up with the Company Registration Directorate and the Corporate Tax Directorate, and renew company documents.
