Overview of the One Stop Shop Directorate/NIC
The One Stop Shop directorate is the National Investment Commission's single point of contact for investors interested in investing in Iraq. It aims to facilitate and expedite the investment process by providing investors with a streamlined and hassle-free licensing and investment services. In this capacity, the One Stop Shop directorate is the gateway to investment approval throughout Iraq.
2. Goals of the One Stop Shop
- Streamline the investing process by clarifying legislation, and improving service quality in registration, licensing, permitting, and land allocation
- Process investment applications in a single easily accessible spot
- Create a single clearing-house where investors can get answers to all their questions
- Provide investors with pre-approval support including approval facilitation, local partnering, and information on markets, sectors, and investment incentives
- Provide post-approval support including providing help with attaining permits application, equipment and raw material import, and profit repatriation
3. Primary Activities of the One Stop Shop
- Pre-Issuing Investment Licenses: The new Investment Law No. 13 and its amendments requires investors to obtain investment licenses from the National Investment Commission or the regional or provincial Commissions. Investors may submit investment license applications to the One Stop Shop. Which will endeavor to inform investors of the final Commission's decision on an application within 45 days from the date of submittal of a complete application.
- Post-licensing support: The One Stop Shop helps to provide support services such as registering the project at the relevant government entity, as well as assistance with project approval, and sponsoring expatriate workers.
4. The One Stop Shop Organization and Roles
- Reception and Investor Services Section: Receives, registers and inputs the application, and responds to investor inquiries.
- Coordination and Follow-Up Section: Coordinates the approval process by guiding the investment application both internally and through government entities.
- Government Liaison Section: Representatives that provide continued support for investors to simplify the processes faced when investing in Iraq.
- Licensing Section: Coordinates final approval and issuance of license, and follow up project implementation post-approval.