Are there good business opportunities in the Kurdistan Region for British companies?
Abdul Rahman: There is a lot of interest in the Kurdistan Region from businesses not only in the UK but also from Europe, the U.S. and the Middle East. The Kurdistan Region Investment Law is very helpful and many businesses with experience have told me that it is one of the best in the Middle East. The investment law has many encouragements for foreigners. Foreign investors and companies are able to own property; they receive an automatic five year tax holiday that can be extended to 10 years; and they are exempt during that time from import duties, income taxes and taxes on repatriated profits. Equipment and machinery that are imported for the project is also tax-free. The KRG believes that the most dynamic aspect of the Kurdish economy must be driven by the private sector and investors. Information technology, oil, energy, manufacturing and tourism industries are all areas where the private sector can and must play an effective role. The government wants investors to feel confident t
