🇮🇶 الامتثال السنوي — Iraq

Underestimating security and operational costs in Iraq

Fix: Budget for security personnel, armoured transport (in some areas), local fixers, and relationship management as line items in your operating budget. These are not optional costs — they are essential for functioning in most parts of Iraq.

Treating Iraq and Kurdistan Region as a single operating environment

Fix: The Kurdistan Region of Iraq (KRI) has its own government, visa regime, investment authority, and security environment. A KRI-registered company does not automatically have federal Iraq coverage. Decide whether you need federal Iraq, KRI, or both — and structure accordingly.

Relying solely on Iraqi banks for international transactions

Fix: Iraqi banks have limited international correspondent relationships. Maintain a parallel corporate account in Jordan, UAE, or Turkey for cross-border payments and treasury management. Use the Iraqi account for local operations only.