The State of Kuwait is an Arab Sovereign State, located in the north east of the Arabian Peninsula, and bordered by Iraq to the north and Saudi Arabia to the south. Kuwait’s wealth is based on the petroleum industry. The capital is Kuwait City, and the currency is the Kuwaiti Dinar (KWD). The country has a highly developed banking system that has been in operation even before the petroleum industry gained prominence. Arabic is the official language of the country, although English is often used in business.
- TYPE OF COMPANY: With Limited Liability
- COMPANY LAW: Companies Law
- SUFFIX TO DENOTE LIMITED LIABILITY: WLL
- DIRECTORS: Minimum 2 – we can provide
- SECRETARY: Not required
- SHAREHOLDERS: Minimum of two who can be either natural persons or corporate bodies but the proportion of Kuwaiti capital must be at least 51% unless authorised – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum KWD 7,000 – 51% of shareholding must be owned by a Kuwaiti national
- OWNERSHIP: 100% Foreign ownership allowed in certain approved sectors
- TIME TO INCORPORATE: 3 months
- REGISTERED OFFICE: Required in Kuwait – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes
- DISCLOSURE: No
- TAXATION: No, excluding the 5% tax for the Kuwaiti Foundation for the Advancement of Science (KFAS)
- GOVERNMENT LICENCE FEE: N/A
- DOUBLE TAXATION TREATIES: 10
- LANGUAGE OF DOCUMENTATION: Arabic with certified English translation
If you would like further information on setting up a company in Kuwait or the formation of a Kuwait company or other Kuwait corporate entities or require professional advice relating to taxation or the structuring and requirements of a Kuwait company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Kuwait.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.