Common requirements and supporting documents for foreign companies and registered branches
Foreign companies operating through a registered branch or office in Iraq will generally need a local corporate bank account to manage operational expenses, receive payments, pay employees, and satisfy tax and regulatory obligations.
Banks commonly require evidence of the company’s legal registration in Iraq, authenticated corporate documents, information about the branch manager and authorized signatories, tax documentation, and confirmation of the company’s registered address.
Exact requirements may differ between banks depending on the company’s ownership structure, business activity, country of incorporation, transaction profile, and internal compliance procedures.
The foreign company or branch should generally be registered with the Iraqi Companies Registration Department.
The bank will require identification and authority documents for each person permitted to operate the account.
Foreign corporate documents may need authentication and certified Arabic translation.
The bank may conduct ownership, source-of-funds, sanctions, and beneficial-owner checks before approving the account.
The following documents are commonly requested when a foreign company or registered branch applies to open a corporate bank account in Iraq.
A formal letter from the company requesting the opening of a corporate current account.
The original or a certified copy of the company’s Iraqi registration certificate or branch-opening license.
Evidence confirming the company or branch address in Iraq.
The company’s Iraqi tax identification number or tax registration certificate.
A certified copy of the foreign company’s certificate of incorporation or registration.
The company’s memorandum and articles of association, incorporation agreement, bylaws, or equivalent constitutional documents.
A corporate resolution authorizing the opening and operation of the Iraqi bank account.
Documents relating to changes in the company’s name, capital, ownership, directors, or constitutional documents, where applicable.
Recent audited financial statements or other financial information acceptable to the bank.
Identification and authority documents for the company’s branch manager or managing director.
The national identification card, residence information, and any additional local identification requested by the bank.
A valid passport, Iraqi residency documentation where applicable, and current contact information.
Identification documents, specimen signatures, addresses, telephone numbers, and email addresses for all authorized account operators.
Information identifying the company’s shareholders, controlling persons, and ultimate beneficial owners.
The company or branch seal showing its registered name, where required by the bank.
Information explaining the company’s activities, anticipated transactions, customers, suppliers, and expected account use.
Documents explaining the source of the funds that will be deposited into or transferred through the account.
Original documents may need to be presented together with copies for verification and retention by the bank.
Foreign-issued corporate documents may need authentication by the competent authorities, the Iraqi embassy or consulate, and the Iraqi Ministry of Foreign Affairs.
Documents issued in another language may need to be translated into Arabic by a certified translator.
Corporate records, licenses, passports, residence documents, and financial information should be current and valid.
Company names, registration numbers, addresses, ownership details, and signatory information should be consistent across all submitted documents.
Account-opening requirements vary between Iraqi banks and may also vary by account type and currency.
Banks may conduct customer identification, beneficial-ownership, sanctions, anti-money laundering, and source-of-funds reviews.
The selected bank may impose a minimum opening deposit, minimum balance, account fee, or other financial condition.
Account approval may be delayed if documents are incomplete, inconsistent, expired, or require additional authentication.
The bank may require the branch manager or authorized signatories to attend in person to sign forms and complete identity verification.
Use this checklist to prepare the company’s corporate account application.