The Ministry of Interior of the Kurdistan Region in Iraq has introduced an investor visa regime, providing two pathways for eligible investors and their families to obtain residence or work permits, as follows:
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- Residence permit. Foreign investors can obtain a residency permit valid for three to five years, upon the Kurdistan Region Board of Investment confirming their investor status. Permits are renewable. The investor’s spouse, children under 18, and parents are also eligible for a residence permit of equivalent length.
- Work residence permit. Foreign nationals who purchase a residential unit within an approved investment project valued at a minimum of USD 50,000 are eligible for a work residence permit valid for one to three years, upon approval by the Board of Investment. Permits are renewable. These work residence rights also extend to the permit holder’s family members (spouse, children under 18, and parents).
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The relevant legislation does not clarify the requirements for confirmation of investor status, or the factors that will lead to issuing of permits of different lengths.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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