31/08/2024
31/08/2024
Sources revealed that under a new directive, the clause concerning the incompatibility of partners with existing and new licenses, where one of the partners or managers falls under Article 18, will be temporarily suspended. This suspension will remain in effect until further notice, specifically until new regulatory controls are issued.
The sources also mentioned that coordination is currently underway with the Public Authority for Manpower to review the regulations governing non-Kuwaiti ownership of companies and commercial institutions. Joint committees are being formed to develop final guidelines for re-establishing the conditions for non-Kuwaiti ownership. These guidelines are expected to include a binding legal deadline for disposing of properties that do not comply with the forthcoming instructions
Regulatory Measures Under ReviewSources revealed that according to information provided by the Public Authority for Manpower, around 10,000 expatriate workers in the private sector, mostly holding Article 18 work permits, have acquired the status of partner or managing partner in approximately 45,000 licenses for existing companies and institutions. These numbers highlight the need for regulatory measures to ensure the rights of all parties involved, including current shareholders, who have obtained commercial licenses under the existing regulatory and legal procedures.
The sources emphasized that the government, particularly the Ministry of Commerce and the Public Authority for Manpower, is committed to organizing commercial licenses with updated controls. In line with this commitment, they plan to enforce the provisions of various laws related to labor and foreign investment. Consequently, new partner controls for expatriate workers holding residency under Article 18 will be established with appropriate mechanisms