Kuwait

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This chapter contains an overview of the legal framework under which local and foreign investors operate in Kuwait, including a look at the amendments made to the Companies Law and an examination of the New Agency Law which is taking effect after 50 years.

This chapter contains a viewpoint from Philip Kotsis, Partner, Al Tamimi & Co.

This chapter contains an overview of the tax framework under which local and foreign investors operate, including a look at the value-added tax being rolled out in Kuwait and across the GCC, a rundown of the remittance, excise and corporate taxes in place and an outline of the tax incentives and credits under the new investment law.

Over the last five years Kuwait’s health care industry has gained significant momentum, adequately responding to rapid population growth by simultaneously addressing capacity constraints and improving the quality of health infrastructure. Despite the decline in oil prices and a budget deficit of over KD12bn ($39.7bn), health care spending remains a priority for the government. Although the...

Driven by rapid urbanisation, the influx of the expatriate workforce, and a rising population of the young and affluent, Kuwait’s retail industry has grown dramatically over the past 10 years. High GDP per capita and the growing popularity of modern retail concepts and formats have also helped to position the country as a major hub for global luxury brands, earning Kuwait City a ninth place...

The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth potential. By comparison, non-petroleum industrial...