Legal Framework
From The Report: Kuwait 2022
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While it is common knowledge that laws in the Middle East include restrictions on foreign parties doing business that do not apply to citizens, progress has been made in recent years to facilitate foreign investment and participation in businesses in the region. Kuwait was a pioneer in this regard, with the promulgation of the Foreign Direct Investment Law in 2014, which has since been replicated in one form or another by several other countries. Despite these steps, there continue to be restrictions on the participation of international investors and owners in Kuwaiti companies. The government has worked in recent years to address this, both procedurally and substantively.

This chapter contains an interview with Ezekiel Tuma, Partner, ASAR – Al Ruwayeh & Partners.

Articles from this Chapter

Overview

Doing business: Successful implementation of the Foreign Direct Investment Law serves as a model for the wider GCC region
OBG
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While it is common knowledge that laws in the Middle East include restrictions on foreign parties doing business that do not apply to citizens, progress has been made in recent years to facilitate foreign investment and participation in businesses in the region. Kuwait was a pioneer in this regard, with the promulgation of the Foreign Direct Investment Law (FDIL) in 2014, which has since been replicated in one form or another by several other countries. Despite these steps, there continue to be restrictions…

Interview

Global horizons: Ezekiel Tuma, Partner, ASAR – Al Ruwayeh & Partners, on the momentum of new listings and encouraging foreign investment
OBG
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Interview:Ezekiel Tuma In what ways can the legal framework be improved to attract higher levels of foreign investment? EZEKIEL TUMA: Kuwait has made progress towards relaxing corporate ownership restrictions. However, this remains one of the main limitations that foreign investors face. Subject to certain exceptions, there is a general requirement that at least 51% of the shares of a company be held by individual or corporate Kuwaiti nationals. A significant number of foreign investors are…