Kuwait plan to introduce 15 year residency for investors and businessmen

Tuesday, November 23, 2021

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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