The Kurdistan Regional Government (KRG) has introduced new regulations aimed at bolstering foreign investment in the region’s housing and economic sectors. Under the updated framework, any foreign national earning an annual income exceeding $50,000 within the Kurdistan Region will now be eligible for a renewable three-year work permit and a five-year residence permit.
This policy also extends to the immediate family members of qualifying individuals, including spouses, parents, and dependent children, offering them the same five-year residency benefit.
Additionally, foreign residents who hold a three-year property lease within the region will also be able to renew their lease upon its expiration, providing long-term residential stability and encouraging continued investment.
According to a representative of the Kurdistan Region Investment Board, the initiative is part of a broader effort to revitalize the housing market and create a more investment-friendly environment for foreigners. The move is expected to benefit numerous non-local individuals who have already purchased property in the region.
