 |
|---|
When going through the process to incorporate a company in Kuwait, legal and tax issues must be considered to ensure the company is properly structured. Some points to consider include: |
|
1.
|
When going through the process to incorporate a company in Kuwait, there are two forms of Kuwaiti company: a closed shareholding company and a limited liability company (LLC), the latter being most popular with foreign investors. |
2.
|
Investors wishing to incorporate a company in Kuwait must consider the requirement that at least 51% of an LLC must be held by a Kuwaiti citizen. |
3.
|
When incorporating in Kuwait, investors wishing to incorporate a company in Kuwait should know that an LLC must have a minimum of two and a maximum of 30 shareholders. At least one shareholder must be Kuwaiti. |
4.
|
Prior to incorporating in Kuwait, an LLC must apply for a Memorandum of Association, which is entered into the Commercial Register at the Ministry of Finance. Only then does the company have legal status. |
5.
|
Investors wishing to incorporate a company in Kuwait should be aware that a Kuwait LLC cannot be used for insurance, finance and banking activities. |
6.
|
When incorporating, investors wishing to incorporate a company in Kuwait should be mindful that the minimum share capital for a Kuwait LLC is 7,000 Kuwait Dinar (US$26,000). |
7.
|
Prior to incorporating in Kuwait, note that an LLC must appoint at least one auditor who is responsible for the accuracy of the financial reports submitted to the general meeting regarding the company's accounts. |
8.
|
After incorporating, investors wishing to incorporate a company in Kuwait, will be required to submit a balance sheet to the Ministry of Commerce, where it is available for public viewing. |
Contact Us Back to Kuwait Company Formation page. |
|
| © 2003-2012 Healy Consultants Pte Ltd | MIDDLE EAST COMPANY SET UP SERVICES |
