Privileges of the Khor Al-Zubair Private Free Zone Authority

Khor Al-Zubair Private Free Zone (KAZ-PFZ) in located within the national territory of Iraq but companies established inside the Free Zone are operating outside the territory of Iraq and are being treated likewise. This enables the the KAZ-PFZ to offer various attractive incentives to investors:

• 100% foreign ownership

• Free repatriation of capital and profit

• Imports and exports by free zone projects are exempted from customs duties

• Profits of free zone projects shall not be subject to the provisions of Iraqi tax system

• All machinery, equipment, raw materials and intermediate goods imported by the free zone investor are exempted from customs

• Freedom to employ

• No restrictions on foreign currencies within the zone

• Foreign employees are exempted from tax and are allowed to repatriate their salary in full

• 50% of Iraqi employees' salary is free of income taxation

Guarantees and Privileges

• Projects in Free Zones shall not be subject to any nationalization or confiscation

• Project financial resources shall not be retained, seized or blocked

• License duration: 25 years for manufacturing project, with an option to extend by another 25 years term