First Article\ Definitions

A. Branch of Chambers of Commerce: the intention in the Foreign Chambers of Commerce that will open a branch in Kurdistan.

B. Headquarter or Business Center: a center or a headquarter that organizes the business of a group of companies and provides facilities to them.

Second Article\ the License of opening the branch of chamber of Commerce

That branch of the chamber of commerce, which requires the license from the commercial facilities activities to the Chamber of Commerce in the motherland in the Kurdistan Region, must include and prepare the following procedures:

1) The internal system

A – The target of opening the branch in the Kurdistan Region.

B- Activities of the main branch for a period of previous three years.

C- Specification of the financial resources.

2) Authorized to get the license at the motherland chamber of commerce.

3) The application should be certified by the Department of Foreign Relations and Consulate or the Embassy of that Country.

4) Submit an application to the Divan of the Ministry to open the branch.

5) Passport photocopy or identity card of the authorized managing director & his partners and residence card.

6) A copy of the office building contract should be submitted to the Ministry after getting the preliminary approval of the work.

7) License Fees in the amount of (1000000) Million Dinars

8) Renewal Fees in the amount of (500,000) five hundred thousand dinars

9 - To pledge in a notary public that:

A - not to do business, but only provide commercial facilities.

B- Under obligation of the direction and checking of the Ministry of Trade and Industry.

10) Registering the branch name in the Union of Chambers of Commerce and Industry of the Kurdistan Region.

Third Article\ The license of these branches, headquarters and centers did not account as a license at all for the company and its members, but each company will obtain the license under a valid law for the Companies Registration Department.