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Kuwait

Kuwait Flag

Country: Kuwait
Region: Middle East
Currency: Kuwaiti Dinar (KWD)
Languages: Arabic
Time Zone: UTC +3

Phone Code: +965

Communications: OK

Formation Cost: 1600 - 2000 USD$
Formation Time: 22 - 32 days
Maintenance cost: 0 USD$

Executive Summary: Kuwait is located in the Middle East, bordering the Persian Gulf between Iraq and Saudi Arabia. With a land area of 17,800 sq km it is one of the world’s smallest countries. The population is 2.7m and the official language is Arabic, although English is widely spoken. Small geographically, Kuwait nevertheless has a wealthy and relatively open economy, with crude oil reserves of about 102bn barrels - more than 6% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Budget surpluses have stayed around 30% of GDP. In 2010, Kuwait passed an economic development plan that pledges to spend up to USD130bn over five years to diversify the economy, although much of these funds have yet to be allocated. Income tax at 15% applies only to foreign entities operating in Kuwait (excluding firms registered in GCC members). Tax exemptions are available for periods of up to 10 years under the Foreign Investment Law.

Suitable for: Yachting, Trading Goods, Trading Financial
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

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Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

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Trading Companies Financial:

 

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Vehicle Types: Limited liability companies, joint liability companies, joint stock companies, general partnerships and limited partnerships

Capital primary business districts: Kuwait City

Good Relationships: India, Iran, Pakistan, Saudi Arabia, Switzerland, Turkey, United States

Bad Relationships: Israel, Iraq, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 15%, PIT 0%, VAT 0%

Treaty Jurisdictions: Armenia, Austria, Belarus, Belgium, Brunei, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Ethiopia, France, Georgia, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Iran, Ireland, Italy, Japan, Jordan, Korea, Republic of, Latvia, Lebanon, Malaysia, Mauritius, Moldova, Montenegro, Netherlands, Pakistan, Poland, Portugal, Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sudan, Switzerland, Syria, Thailand, Tunisia, Turkey, Ukraine, United Kingdom, Uzbekistan, Venezuela, Yemen

TIEA Jurisdictions: None

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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