Iraqi Bank Accounts For Foreign Companies

Opening a Bank Account

Opening a Bank Account

  1. A letter issued by the foreign company addressed to the bank requesting the opening of a checking account signed by the managing director of the company
  2. Original (or certified copy) of the license to establish a branch or office of the company in Iraq issued by the Department of Registration of Iraqi companies (The branch shall obtain the validity of issuing the license)
  3. Papers and documents of the foreign company in the country concerned issued by the competent authority and certified by the Iraqi Embassy in that country and the Iraqi Ministry of Foreign Affairs
  4. A copy of the powers of the managing director of the foreign company and notes whether he has the power to open bank checking accounts
  5. A copy of personal identifiers of people authorized to operate the account, whether they are Iraqis or foreigners
  6. A copy of the budget of the last two financial years of the foreign company
  7. Acting representative of the company in Iraq certified by the tax Directorate and the Iraqi Ministry of Foreign Affairs
  8. Company's seal in arabic and english
  9. Confirmation of residency of companies branch from the municipal council
  10. Company's tax ID number
  11. Original and photo copies of all papers

Required Documents

  1. Certificate of incorporation by the registrar of companies (certified)
  2. Incorporation contract (certified)
  3. Minutes of meeting (certified)
  4. The Company's general budget report for the last two financial years audited by an Accounts Auditor duly authorized and certified (Accountants Syndicate)
  5. Tax number certificate or the company tax ID
  6. End of the procedures of any amendment concerning the name or capital along with the report and contract of the amendment (certified)
  7. Trade name letter / issued by the Federation of Chambers
  8. Confirmation of the company signed by the Municipal Council / copy of the lease certified by the Municipal Council
  9. Originals and copies (of all documents)
  10. Managing Director documents
    • ID
    • Iraqi Nationality Certificate
    • Passport
    • Residence Card
  11. Residency card outside Iraq or other nationality passport (if any)
  12. A request to open an account on the company template
  13. Company seal includes name with full activity
  14. Deposit of 1,000,000 Iraqi Dinars and 1,000 US dollars
Notes
  1. The documents of the company for the year 2019 should be certified
  2. Obtain an issuance authenticity before opening the account