Kuwait
Kuwait is a small but prosperous country located in the heart of the Middle East, offering a range of business opportunities for both local and foreign investors. With a stable political environment, favorable tax policies, and a strategic location, Kuwait is an ideal destination for businesses looking to expand their operations in the region.
What are the advantages of doing business in Kuwait?
Kuwait may be a small country in the Gulf region, but it boasts many unique advantages for businesses. With a stable political environment, strategic location, and a well-diversified economy, Kuwait offers opportunities for investors to tap into a growing market that is largely untapped. The country is also known for its strong financial sector, which provides easy access to funding and capital for businesses. In addition, Kuwait is actively investing in modernizing its infrastructure, including transportation, communication, and logistics, making it an attractive destination for companies looking to expand their operations. Moreover, with the introduction of new laws to encourage entrepreneurship and innovation, Kuwait has become a hub for startups and small businesses in the region.
Do you plan to start your company in Kuwait?
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How to set up a company in Kuwait?
1
Choose the type of company
Decide on the type of company you want to set up, such as a limited liability company, a joint venture, or a branch office.
2
Choose a company name
Choose a unique name for your company, and apply to the Ministry of Commerce and Industry to reserve it.
3
Draft the Articles of Association
Draft the AoA, which outlines the company’s objectives, shareholders, board of directors, and other important information.
4
Obtain a commercial license
Obtain a commercial license from the Ministry of Commerce and Industry, which allows you to conduct business activities in Kuwait.
Bank account opening in Kuwait requires a personal visit to the bank, as per the current regulations. To open a bank account, we will schedule an appointment with the bank and fill out all the necessary forms prior to your visit.
Documents required to establish a company in Kuwait
Here is a list of common documents required to set up a company in Kuwait by a foreigner.
Required Documents for Individual shareholder:
- Passport: A copy of the passport (national ID) of the shareholder, certified by the Kuwaiti embassy or consulate in the shareholder's home country.
- Power of Attorney: A power of attorney issued by the shareholder authorizing a Kuwaiti representative to act on their behalf during the registration process.
- No Objection Certificate (NOC): A No Objection Certificate issued by the Kuwaiti embassy or consulate in the shareholder's home country, certifying that the shareholder is authorized to invest in Kuwait.
- Bank Reference Letter: A reference letter from a reputable bank, certifying the shareholder's good standing and financial solvency.
Required Documents for Corporate shareholder:
- Commercial Register of the Parent Company: This document should be attested by the relevant authorities in the home country of the parent company and then translated into Arabic and attested by the Kuwait embassy in that country.
- Board of Directors Resolution: A certified copy of the board resolution of the parent company authorizing the establishment of a subsidiary in Kuwait should be provided.
- Power of Attorney: A power of attorney issued by the parent company in favor of the authorized representative in Kuwait is required.
- Certificate of Incorporation: A certified copy of the parent company's Certificate of Incorporation is required.
- Financial Statements: The latest audited financial statements of the parent company should be provided. These statements must be attested by the relevant authorities in the home country of the parent company and then translated into Arabic and attested by the Kuwait embassy in that country.
- Bank Reference Letter: A bank reference letter from the parent company's bank is required, attesting to the good standing of the company.
- Shareholder Resolution: A certified copy of the shareholder resolution authorizing the establishment of a subsidiary in Kuwait should be provided.
- Passport and Visa: The authorized representative in Kuwait should provide a copy of their passport and a copy of their residency visa.
Ready to take the first step towards your company in Kuwait? Just fill out the application form, it will help us prepare all the necessary documents
How companies are taxed in Kuwait?
- 15%Corporate tax on locally sourced profits
- 0%Corporate tax on foreign sourced profits
- 0%Kuwait does not impose any withholding taxes
What we do
We assist in registering a company in Kuwait and ensure that all legal and regulatory requirements are met. This includes obtaining the necessary licenses and permits to operate in the country.
We assist with setting up bank accounts and accounting systems for the new business. This can help ensure that financial transactions are handled smoothly and efficiently.
We provide guidance on tax laws and compliance requirements in Kuwait. We ensure that the company is in compliance with all local regulations and help to avoid any legal or financial penalties.
We assist with visa and immigration services for foreign investors and employees. Our team helps to obtain residency permits, work permits, and other necessary documentation.
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