The investment law was passed in July 2006 and an Investment Board was created to manage and promote investment in the Kurdistan Region. 

The investment law is one of the most friendly to foreign investors in the entire Middle East. Some features of the law are:

• Foreign and local investors and capital are treated equally under the law (Article 3).

• Foreign and local investors are entitled to own all the capital of any project (Article 3).

• The government allocates free or reduced-price land to investment projects that fulfil the criteria (Article 4).

• Foreign investors are free to repatriate profits in full (Article 7).

• Foreign and local investors are equally entitled to buy and own land for investment purposes (Article 4).

• Investors get a 10-year non-custom tax break once they start production or service provision. Raw materials and equipment used in production also get customs relief (Article 5).

For more details, please click here for the full text of the investment law.