The State of Kuwait (“Kuwait”) is a country located in Western Asia. Situated on the northern edge of Eastern Arabia at the tip of the Persian Gulf and sharing border with Iraq and Saudi Arabia. After the discovery of oil in 1938 the country underwent large-scale modernization.
The below content explains some of the main requirements for company formation in Kuwait.
Company Incorporation in Kuwait
Doing Business Introduction
Kuwait has a high-income economy backed by the world’s sixth largest oil reserves and Kuwaiti dinar is the highest valued currency in the world.
We are able to assist our clients with any type of company formation in Kuwait, trademark registration in Kuwait and other recurring services for your business in Kuwait.
Incorporation – Business Entities
The Commercial Companies Law governs the incorporation of companies and related matter in Kuwait. There are different types of entities that can be incorporated in Kuwait are as mentioned below:
- Limited liability companies
- Shareholding companies
- General partnership
- Limited partnership
- Joint Ventures
- Free Trade Zones
- Commercial agents or Distributors
Time Frame for Incorporation of Company in Kuwait varies from depending on the type of entity selected. Each business type has its own advantages and disadvantages. Synergy estimates the time required for the process of the company formation in Kuwait to be completed to be 50-60 working days.
Benefits of Company Registration
Below are the advantages of company formation in Kuwait:
- No foreign-exchange restrictions exist.
- Wealthy country with savvy business people in the private sector.
- Significant expansion in the building and construction industry
- Corporate tax exemption for up to 10 years.
- Customs duties exemptions
|Under Kuwait law, foreigners||Can Own 49%|
|Minimum Share Capital||KWD 1000|
|MOA and AOA||Required|
|Expatriate Staff||Can Be Hired|
|Tax Registration||Certificate Required|
|Timeframe for Bank Account||1 month|
|Timeframe for Incorporation||3 weeks|
|Access to Kuwait Double Tax Treaties||Yes|