The regional real estate, construction and hospitality sectors have been turned upside down over the last two years, with Covid-19 bringing these sectors to a halt. The impact of the pandemic remains, however, the resurrection of these vital sectors across the region is a welcome relief because they support the development of modern cities, which in turn have attracted commerce and tourism to the Middle East and North Africa.
This latest edition of Law Update, provides vital insights, updates and commentary on the latest trends taking shape across the real estate, construction, hotels and leisure sectors. The articles within this edition cover a broad range of topics, from what’s next for real estate in Dubai, to commentary on Saudi real estate, a market that is set to become the main bedrock of the region for years ahead. You will find articles on reforming real estate laws in Qatar, foreign investment and ownership in Oman, and mitigating risks on hotel construction projects and the lessons learnt from Covid.Read the full report
Private security legislation in Iraq is becoming increasingly important in Iraq for commercial purposes to create a safe business environment for local and foreign investors. In 2017, the Iraqi President signed the Private Security Services Companies Law No. 54 of 2017 (the “Private Security Law”) into law. The Private Security Law gives priority to local companies and local personnel and places a larger barrier of entry into the private security market for foreign companies.
This article provides an overview of the Private Security Law, including but not limited to what constitutes a Security Service Company, licensing requirements, employment rules, and sanctions for failing to comply with the said law.
Pursuant to the Private Security Law, Security Service Companies are local or foreign companies that provide guarding services to customers in Iraq. Contracts for security services must be approved and legalized by the Ministry of Interior.
The Ministry of Interior is responsible for licensing and regulating Security Service Companies in Iraq. The Private Security Law provides priority to local applicants. Foreign and local applicants are generally required to provide (non-exahustive list):
In addition to the above, it is important to note Foreign Branches are required to obtain the approval of the Prime Minister’s office in order to be eligible to apply for the license.
Pursuant to the Private Security Law, Security Service Companies are subject to strict employment rules. In general, all employees must be screened and approved by the Ministry of Interior. Foreign employees are subject to further approval by the Ministry of Defense and the National Security Agency. In addition, employment pre-requisites include (but are not limited to):
Pursuant to the Private Security Law, entities that provide security services without holding the required licensing are liable to imprisonment and a fine of no less than (one-hundred million) 100,000,000 IQD.
For further information, please contact Mohammed Taher.