New bylaw passed to register businesses in Kurdistan
ERBIL (Kurdistan 24) – The ninth cabinet of the Kurdistan Regional Government (KRG) has passed a new bylaw that will make it cheaper and quicker to register new businesses in the autonomous region.
“The cabinet today passed the new bylaw thanks to interventions by PM @masrour_barzani and DPM @qubadjt despite resistance,” Aziz Ahmad, Deputy Chief of Staff to the Prime Minister Masrour Barzani, tweeted on Wednesday.
“The move improves one indicator of doing business in Kurdistan, and creates competition,” he said. “It’s the culmination of more than two years of hard work by both offices in collaboration with the Trade and Industry Minister and his team.”
[THREAD] It’s now cheaper and quicker to register new businesses.— Aziz Ahmad (@azizkahmad) April 13, 2022
The cabinet today passed the new bylaw thanks to interventions by PM @masrour_barzani and DPM @qubadjt despite resistance.
The move improves one indicator of doing business in Kurdistan, and creates competition.
The current administration has worked to simplify the company registration and regulation process to provide more job opportunities and enable young people to market their ideas.
“For instance, it now costs less than $100 versus more than $3,000 on average in the past,” Ahmad said in another tweet.
Safeen Ghafour, who works in Kurdistan Region Deputy Prime Minister Qubad Talabani’s office, said that “the registration of a Trade Name will be transparent. A complete list of the registered names will be available.
He added that “same business day registration with only one visit, eliminated many unnecessary steps.”
“Trade names will be valid and protected at the Kurdistan Region level. Easy registration process is the main focus to encourage entrepreneurship.”