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Kuwait plan to introduce 15 year residency for investors and businessmen

Tuesday, November 23, 2021
Kuwait plan to introduce 15 year residency for investors and businessmen

Kuwait is planning to introduce 5 to 15 years residency for expatriate investors, owners of companies and commercial projects, and CEOs of selected businesses units, local Arabic daily Al-Qabas reported.

The government is moving to amend the residency system and work permits, without the need for the sponsorship system, for some expatriates who serve the national economy, daily reported quoting sources.

The move is targeting expatriates wishing to implement investment projects within the country or owners of existing projects, who hold residencies according to the current system (Article 18). The discussions are going on to provide residency up to 15 years on state guarantee.

They will provide residency of their own, according to regulations and legal procedures that will be approved soon. This will strengthen the plan to attract investments to the country, sources said.

The plan is under discussion in the relevant authorities, especially the Ministry of Interior and the Public Authority for Manpower, the report added.



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Express your comment on this article

 
Erny
Wednesday, November 24, 2021
Good to hear something positive.
However, you guys are late with your decisions.

Lots of business owners with 60 years of age have closed their business and moved to other gulf countries.

Sponsorship system is a big disaster to businessman.

Franz
Tuesday, November 23, 2021
Passports valid for 5yrs visa for 15yrs.
Like US visa. Good decision.

Raj
Tuesday, November 23, 2021
Haha first let them give 1 year visa to senior people who are above 60 years.. Then we can talk about 15 year visa...

First let them allow people to drive car on the roads without counting on their university or Phd.. then we can talk about Investment....

RAJA
Tuesday, November 23, 2021
IT COULD BE BIGGEST LOSS FOR CURRENT SYSTEM.
95% WILL GO IN HANDS OF INDIA AND MARKET EXPLOITED AND SALARIES WILL BE IN RUPESS.CALCULATIONS.
AS OWNER WILL BE INDIAN AND COST CUTTING -SALARY STARTS FROM LABOUR-70KD MAX WILL CEO/MD WILL GETKD 700 .

George
Tuesday, November 23, 2021
Better late than never..!!

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