Company Formation Kuwait
With an economy primarily based on the petroleum industry, but also with a rather developed banking system, Kuwait is often the country in which foreign investors decide to set up a company. For further information and assistance with the process, please contact our company incorporation experts.
Kuwait's legal entities types
Foreign entrepreneurs should first choose which of the legal structures in Kuwait is the best one for his/her interests. In order to do this, we mention here some of the types that are most common: the limited liability company, the closed joint stock company, the public joint stock company, the joint venture etc. However, the most popular one is the limited liability company. The demands that need to be met when opening a company in Kuwait are hereunder:
• minimum two directors;
• at least two shareholders (either individuals or corporate bodies);
• minimum capital share of 7,000 KWD and 51% of the shares of the company must be owned by a Kuwaiti national;
• there are sectors in which 100% foreign-ownership is allowed; please contact our experts in company registration for further information.
Steps for registering a company in Kuwait
1) The first step is registering at the Department of Companies where you need to submit a standardised application along with other documents.
2) The second step is to reserve a name for the company, one that does not already exist. It needs to be approved and then a letter is issued stating the reservation of the name for three months.
3) Another important phase when you want to register a company in Kuwait is the depositing of the capital at the bank. A receipt is then received from the bank where it is detailed what amount was deposited by each member of the company.
4) Then the memorandum of association needs to be notarized after obtaining the approval from the Department of Companies.
5) Registering with the Commercial Registry is also a must; the certificate of registration will include the name of the company and the commercial registration number. You also need to acquire the commercial license. In order to complete these procedures as quick as possible, you can contact our specialists in company formation.
6) Last, you must register with the Chamber of Commerce and Industry in Kuwait and also with the Public Authority for Civil Information.
For further assistance in forming a company in Kuwait or in other countries, please, do not hesitate to contact our company registration agents who can make sure that you benefit from the quickest services and a personalized business plan.