IndiansinKuwait.com - India Kuwait News and updates

IndiansinKuwait.coom

Expats with Article 18 Residency can now become company partners

Sunday, September 1, 2024
Expats with Article 18 Residency can now become company partners

The Ministry of Commerce and Industry has lifted the ban on expatriates with Article 18 residency, allowing them to become partners or managing partners in companies once again.

However, the ban remains in effect for expatriates under Articles 20, 22, and 24.

Last month, the Ministry imposed a ban that restricted expatriates from owning companies unless they held Article 19 residency. According to Al-Rai Arabic daily report, the Ministry’s systems will resume processing requests this week. Once reactivated, existing commercial entities with shareholders holding Article 18 and 19 residencies will be able to establish and renew their status, as well as make amendments to all companies and institutions, following the procedures in place before the ban was implemented.


  IndiansinKuwait.com is now on WhatsApp Channel    Follow Channel


📣 IndiansinKuwait.com is now on Telegram. Click here to join our channel (@IIK_News) and stay updated with the latest headlines

Read this article online at

Express your comment on this article

 
sr
Sunday, September 1, 2024
Is it possible a person working in a company can he become a business partner.

Shamal Azzour Zahid
Sunday, September 1, 2024
I want to ask a question. Is it possible to transfer aqama to new kafeel for manager position without degree certificate and salary kd 1500 per month?

ODATTIL PADMANABHAN
Sunday, September 1, 2024
Contgrat

Submit your comments...
     
Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.

Community News

 
Pearls of Islam (POI)-IMA Kuwait conducts a Summer Vacation Program on Dive into Deen

For many, the holidays are a time when distractions are abundant. To optimize summer vacations Pearls of Islam, an educati...

OICC Kuwait postpones Onam celebrations

Following the Wayanad landslide disaster, the OICC Kuwait National Committee has announced that the planned Onam celebrati...

FOKE organised blood donation camp

Friends of Kannur Kuwait Expats Association (FOKE) organized a blood donation camp . The camp, which was held at the Al Ad...

IMWA Holds Annual General Body Meeting

Indian Muslim Welfare Association held its 29th Annual General Body Meeting on Friday, August 30, 2024, after giving 30 days...

KCICAI’s Bowling Bash with family: An evening filled with Strikes, Spares, and Laughter in Kuwait

The Kuwait Chapter of the Institute of Chartered Accountants of India (KCICAI) recently organised a vibrant and fun-filled B...

go top