By John Lee.
The Kurdistan Regional Government (KRG) has streamlined the registration of companies in Iraqi Kurdistan.
Balend Mohammed, Director General of the Registry of Companies, said that while it previously took many months to register business names, it must now be completed within 24 hours, or else "the relevant parties will be prosecuted."
He added that company registration will be completed within 24 to 48 hours.
Regarding costs, Bland Mohammed said that in the past, each Kurdish or Arabic trade name cost about 600,000 dinars, or 1.2 million dinars if the name was foreign, but now the cost of Kurdish, Arabic and foreign trade names is 50,000 dinars.
Company registration costs have also been reduced significantly.
(Sources: KRG, @azizkahmad)