عضوية الأجنبي في الشركات التجارية العراقية

Abstract EN

In order to encourage foreign investment and create equality between foreign investors and their Iraqi counterparts (as Iraqi companies had been exclusive to Iraqi nationals), the Iraqi legislature introduced a significant amendment to the Iraqi Companies Law no.

21 of 1997 pursuant to the Coalition Provisional Authority order no 64 on 03/03/2004, allowing foreigners to become members in Iraqi companies incorporated in accordance with Iraqi laws.

That amendment represented a turning point in investment in general and foreign investment in particular.

It also impacted the Law of Investment and Stocks Exchange and the instructions promulgated thereunder.

Legal personality of foreigners was acknowledged in the wake of the spread of human rights and registering them through international agreements and conventions and the establishment of international customs acknowledging the legal personality of individuals, which improved the situation of foreigners.

An individual is deemed a foreigner once he crosses the boundaries of his country whether he does that for residency or transit, legally or illegally.

An examination of Iraqi corporate laws, both those revoked and those in place, reveals a clear confusion among Iraqi legislators concerning determination of persons entitled to establish or subscribe at companies in accordance with Iraq laws.