Iraq's economy is dominated by the oil sector which has traditionally provided 90% of government revenue and 80% of foreign exchange earnings. Since mid 2009 oil export earnings have returned to levels seen before Operation Iraqi Freedom and government revenues have rebounded.
In 2011 Baghdad will increase oil export levels above the current level of 1.9 million barrels per day, as a result of new contracts with international oil companies. Aside from oil, an improved security environment and the aforementioned foreign investment are helping to spur economic activity particularly in energy, construction and retail.
As a result international companies are increasingly looking at Iraq as a place to pitch their services. When providing services in Iraq they will either have to relocate their own staff or source international contractors. It is very difficult to start a company in Iraq as a foreign owned enterprise and as such if these companies wish to relocate their staff or source international contractors they will require a locally based Contractor Management Company to provide a full employed local solution for their employees.
This will entail Iraq Permits and local Iraq payroll. As an individual, working in Iraq can be a highly rewarding experience, an opportunity to experience living in the Middle East, high earning rates and benefiting from the low income tax!
Our services in Iraq include:
- Tax, Payroll and Employment Solutions for Clients and Individual Contractors
- Sponsored Work Permits for Clients/Contractors/ Freelance Workers
- Salary Packaging Self-Employed / Pty Ltd Companies
- Immigration Lawyers
- Expatriate Tax specialists
- Insurance (Private Health / Travel / Professional Indemnity)
- Mortgages Bank Account Opening
You can reach all our resources for Iraq from this page.