Right of a Foreigner to Own Property in the State of Residence and the Restrictions Imposed Thereon – A Study in Accordance with Iraqi Law

Abstract

    The issue of a foreigner's right to own property in their country of residence, and the restrictions imposed upon it, is one of the most prominent and recurring legal issues in a world experiencing economic liberalization and extensive human interaction. The movement of capital and people between countries has become a reality that necessitates a re-examination of the rules governing cross-border ownership. This includes understanding the scope of this right for foreigners, clarifying the importance of balancing the attraction of foreign investment with the protection of national sovereignty, and addressing the discrepancies between a foreigner's right to own property in their country of residence and the constitutional, legislative, or administrative restrictions imposed by that country. It also involves studying the legal basis that permits foreigners to own tangible and intangible assets, clarifying the scope of this right in comparison to the rights of citizens, and examining the restrictions imposed on foreign ownership of movable, immovable, and land property—whether precautionary, regulatory, or security-related—as well as the challenges of reconciling granting foreigners the freedom to own property with ensuring the public interest. Given the need to adopt clear and balanced legislation that accurately defines the scope of foreign ownership of funds in Iraq in a way that ensures transparency and enhances the investment environment, and to update laws that impose unjustified restrictions and replace them with more flexible regulatory mechanisms that take into account economic security without compromising the attraction of capital.

Keywords: foreigner, country, residence, ownership, real estate, movable property.