Individual project (one-person company) according to the latest legislative developments

The individual project (or as it is called in some legislations of the company of one person or man) is a kind of economic projects that are important and vital, characterized by their own system and their special nature from the rest of the other companies. Such projects consist of only one person. An exception to the general rule in the formation of companies that require the participation of two or more persons, and This project is characterized by the owner of the share capital and is the owner, and bears the personal and unlimited liability for all the debts of the project as a public asset, but there is limited liability taken by the law of Iraqi companies under the new amendment to the Iraqi Companies Law of 2004, and therefore legislator took two forms For this system: First: the image of the individual project contained in the law of Iraqi companies in force No. 21 of 1997, and the second: a limited liability company taken under the 2004 amendment to the same law.