Iraq Investment

Besides buying the Iraqi Dinar there are some other Iraq investment opportunities that you may not yet know about. Back on November 23, 2009 the Iraqi Parliament passed an important law that finally allows foreign investors to own land in Iraq. The law is also designed to ease the red tape of applications and regulations investors must go through to own that land.

Now that violence has subsided somewhat since the US invasion in 2003 there was hope that foreign investors would be putting their money into Iraq and helping with housing, infrastructure and other much needed fiscal influx. But because of the bureaucracy, regulations and miles of red tape, investors had been very warry of risking their capital in the flegling nation. That concern now has gone out the window and many see this as a possible boom time for Iraq.

The new law basically only covers housing and not oil or hotel construction, which is much needed, but there is a huge opportunity here for foreign investors. Outdated Iraqi real estate laws had only allowed for foreigners to lease land for a limited amount of time, but not actually own it. Millions of new homes and apartments are needed in Iraq after year of war and political turmoil and there are construction companies in Dubai and other Arab and western nations that are eyeing Iraq for real estate development.

Iraq boasts the 3rd largest oil reserves in the world and the hopes are that as oil money is poured into rebuilding the nation's infrastructure of roads, bridges and public works, this new law will bring on much needed housing. While this law still needs to be passed by the Iraqi Presidential Council, the hope is that this will happen soon and new investment can begin as quickly as possible.

Of course if you can afford to invest in Iraqi real estate, you can always invest in Iraqi Dinar or trade the dinar through the Forex currency exchange.