HOW TO INVEST IN KURDISTAN
The Kurdistan Regional Government continues to take steps to facilitate business opportunities and to ease the process by which organizations can be established, while simultaneously ensuring a level playing field and secure competitive environment.
Currently, it takes approximately 30 days to start a business in Kurdistan. By law, the Investment Board is required to process applications within 30 days of submission. Detailed, professional proposals have the potentials to be processed more quickly, in approximately five to ten days.
This page provides step-by-step information on how to start investing in the Kurdistan Region…
1. Contact a KRG representation office.
The KRG has representation 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.
There are now two international airports based in the Kurdistan Region with regular direct flights from Austria, Germany, Sweden, Greece, Denmark, Turkey, the United Arab Emirates, Jordan, Bahrain and Lebanon.
Notable airlines flying to the Kurdistan Region include, Austrian Airlines, Lufthansa, Gulf Air, Royal Jordanian, Etihad and Middle East Airlines.
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 Kurdistan Investment Board’s website:www.kurdistaninvestment.org
4. Talk to other investors in the Kurdistan Region.
The KRG Department of Foreign Relations 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.