 |
| |
 |
Our attorneys are experienced in advising clients on the proper formation of joint ventures, companies, the establishment of branch and representative offices of foreign companies here in Kuwait and advising as to the most advantageous structure for each client and venture. Outside of joint venture arrangements, under the Kuwait Commercial Companies Law, Decree No. 15 of 1960 (the “Companies Law”), there are essentially two main vehicles for establishing companies. Pursuant to Part IV of the Companies Law, a Kuwait Joint Stock Company (“JSC”) may be established with a minimum of five (5) shareholders.
|
|
| |
|
| |
This type of entity, similar to an American stock corporation in some respects, issues stock certificates to its shareholders and is managed by a board of directors. Under Part V of the Companies Law, parties may establish a Kuwaiti limited liability company (“WLL”) with a minimum of two (2) partners. This entity, which is similar to the American version of a limited liability company (“LLC”) has become more popular over the last few years for smaller to mid-size businesses to quickly establish themselves in the Kuwaiti market.
Generally, while the Companies Law does not allow more than 49% foreign ownership, the State of Kuwait has begun liberalizing its foreign investment laws in recent years. For example, under Decree No. 8 of 2001, Regulation of Direct Foreign Investment in the State of Kuwait, foreign companies may now own larger interests in companies, in some cases holding a majority to total ownership, especially in the event that they are seen as bringing benefits to the country such as technology or capital. The attorneys at Al Wagayan, Al Awadhi & Al Saif have a long track record in assisting foreign shareholders in this respect and safeguarding their interests based upon both local law and practice. |
|
|
| |
 |
|
Al Wagayan, Al Awadhi & Al Saif
Suad Commercial Complex, 9th Floor
P.O. Box 22833 – Safat 13089 Kuwait
TEL:+965 2472317 – FAX:+965 2472318
EMAIL: info@awaslegal.com
|
|
|
|
