伊拉克最新投资法 Investment Laws.docx

1、伊拉克最新投资法 Investment LawsInvestment LawsThe Investment Law No (13) of 2006 In the name of the people The Presidency Council Pursuant to what was approved by the Council of Representatives and endorsed by the Presidency Council and based on the provisions of paragraph (First) of Article (61) and parag

2、raph (Third) of Article (73) of the Constitution, the following law is promulgated: No (13) of 2006 The Investment LawChapter OneDefinitionsArticle 1The following terms, wherever mentioned in this Law, shall have the following specificmeanings unless the context indicates otherwise:A. The Council: T

3、he Council of Ministers B. National Commission for Investment: The Commission established in accordance with this law responsible for drawing up the national policy and laying out its guidelines and monitoring the implementation of these guidelines and instructions in investment. It shall specialize

4、 in investment projects of a federal nature exclusively. C. Regions Commission: The investment commission of the region responsible for granting investment licenses in the region. D. Governorate Commission: The investment commission of the governorate not organized in a region responsible for invest

5、ment planning and granting investment licenses in the governorate. E. The Commission: The National Commission for Investment or the Regions Commission or the Governorate Commission as the case. F. Chairman of the Commission: The Chairman of the National Commission for Investment G. The Project: The

6、economic activity subject to the provisions of this law. H. The Assets: The tools, apparatuses, equipments, machineries, requirements, gear, transportation means and office furniture specified for exclusive use in the project, and the furniture, furnishings and the requirements of the hotels, touris

7、t cities, hospitals, schools and colleges I. The Foreign Investor: Is the investor who does not hold the Iraqi nationality in the case of a real person, and is registered in a foreign country in the case of a juridical or legal person J. The Iraqi Investor: Is the investor who holds Iraqi Nationalit

8、y in case of a real person and is registered in Iraq in the case of a juridical or legal person. K. Taxes and Fees: All types of taxes and fees levied in accordance with the applicable laws. L. The designed production capacity: Is the production capacity designed within a specific unit of time (hour

9、, unit, day . etc) in accordance to what is fixed in the documents incoming with the machines of the supplier. M. Investment Portfolio: A collection of investments in shares and bonds. N. Investment: Is the investment of capital in any economic or service activity or project that results in a legiti

10、mate benefit for the country. Goals and Means Article 2 This law aims at the following: First: To promote investment and transfer modern technologies in order to contribute to the process of developing and enhancing Iraq, and expanding and diversifying its production and service base. Second: To enc

11、ourage the Iraqi and foreign private sector to invest in Iraq by providing the required facilities for establishing investment projects and enhancing its competitive capacities in the local and foreign markets for projects included in this law. Third: To develop human resources based on market deman

12、ds and provide work opportunities for the Iraqis. Fourth: To protect the rights and properties of investors. Fifth: To expand exports and improve the balance of payments and the balance of trade of Iraq. Article 3 The following means shall be adopted to realize the objectives of this law: First: To

13、grant projects covered by the provisions of this law the necessary privileges and guarantees for its continuation and development by providing support in a way that enhances the competitive capacities of these projects in the local and foreign markets. Second: To grant projects that obtained an inve

14、stment license from the Commission, additional facilities and exemptions from taxes and fees in accordance with the stipulations of this law. Chapter Two The National Commission for Investment and the Investment Commissions in the Regions and Governorates Article 4 First: A Commission shall be estab

15、lished and called the The National Commission for Investment. It shall enjoy a juridical personality and shall be represented by the Chairman of the Commission or the person authorized by him. It shall be responsible for drawing up the national policies for investment and drawing up its plans, regul

16、ations and guidelines as well as monitoring the implementation of these guidelines and instructions in investment. It shall specialize in strategic investment projects of a federal nature exclusively. Second: The National Commission for Investment shall be managed by a Board of Directors comprised o

17、f nine members who must be competent and specialized, and hold a college degree that suits the specialty of the Commission. They must not have been sentenced for a felony or misdemeanor of moral turpitude, or have declared their bankruptcy Third: A. Upon a request by the Prime Minister, the Council

18、of Ministers shall nominate a Chairman of the Commission at a grade of Minister and a Deputy Chairman at a grade of Deputy-Minister for a period of five years and present them to the Council of Representative for approval. B. The Prime Minister shall appoint four members for a period of five years a

19、t a grade of Director General. C. The Prime Minister shall select three members from the private sector for five years after their nomination by Chairman of the Commission and specifying their compensations according to the bylaws. D. At the conclusion of the membership of any member of the Commissi

20、on referred to in Paragraph (A and B) of this Article in cases not involving dismissal and resignation, the Prime Minister shall assign them to any governmental entity at the same grade. Those mentioned in (A) of this article shall be retired on pension when not assigned to a government position equ

21、ivalent to their grade. E. The Council of Representatives may directly dismiss the Chairman of the National Commission for Investment and his Deputy, or upon a request by the Prime Minister for compelling reasons. F. The Council of Ministers may dismiss or replace any member of the Commission or rep

22、lace him with others in case he does not adhere to the standards and regulations of the Commission. G. The Board of Directors of the National Commission for Investment shall meet at the invitation of its Chairman. A bylaw issued by the Commission shall specify the quorum, decision taking, making rec

23、ommendations and the course of work of the Commission and any other issue. H. The National Commission for Investment shall be connected to the Prime Minister. I. The salary scale and entitlements of the Commissions employees shall be determined by a decision of the Prime Minister based on a proposal

24、 from the Chairman of the National Commission for Investment. Fourth: The Commissions headquarters shall be in Baghdad and it may appoint representatives in the regions and governorates. Fifth: The National Commission for Investment shall draw up an overall national strategic policy for investment i

25、dentifying the more important of the sectors and shall prepare a map of investment projects in Iraq in the light of the information it receives from the regions and governorates. It shall also prepare lists of investment opportunities in strategic and federal investment projects with initial informa

26、tion about these projects and making it available to those wishing to invest.Article 5 First: The regions and governorates not organized in a region may form investment commissions in their areas. The latter shall enjoy the powers of granting the investment licenses, investment planning, promoting i

27、nvestment and opening branches in their areas within the provisions of this law in consultation with National Commission for Investment to guarantee the availability of the legal conditions. Second: the Investment Commissions of the regions and governorates shall be composed of at least seven member

28、s including the chairman and the vice chairman of at least seven years of experience and competence and with a university degree appropriate to the specialization of the commission and not convicted in a felony or a misdemeanor involving turpitude or has declare his bankruptcy. Third: The regions an

29、d governorates not organized in a region shall establish a mechanism of forming the investment commission of the region and the governorate and removing the Commissions members in case he/she does not adhere to the standards and charters of the Commission in a way which is not in conflict with the p

30、rovisions of this law. Fourth: The Investment Commissions of the regions and governorate shall coordinate their work with the National Commission for Investment, and shall coordinate and consult with local governments regarding investment plans and facilities. Fifth: The regions and governorates com

31、missions shall draw up their investment plan in a way that does not contradict with the federal investment policy and shall prepare list of the investment opportunities in the areas that are subject thereto, with initial data about these projects and offer it to those wishing to invest.Sixth: The re

32、gions Commission shall be connected to the Prime Minister of the region and is subject to the scrutiny of the regions Council. The governorate commission shall be connected to the Governor and is subject to the scrutiny of the governorate council in way that does not contradict with the provisions of this law.Seventh: Regions and Governorates Commissions board of directors shall convene upon an invitation from their chairman. The quorum of convening and adopting resolutions and recommendations shall be determined by absol