kuwait
Kuwait has approved a new long-term residency plan granting foreign investors and their families residence permits valid for up to 15 years.
The decision published in the official gazette. Kuwait Al-Youm on Sunday is aimed at encouraging foreign investments, luring foreign capital and promoting Kuwait’s position as a center of direct investment.
The new program grants the long-term residency to owners of investment entities, business partners, managers, senior executives holding approved job titles, as well as their immediate family members, including parents, spouses, and children.
Under the decision, the General Department of Residency Affairs at the Ministry of Interior may grant investor residency permits upon recommendation from the Kuwait Direct Investment Promotion Authority (KDIPA), provided that applicants meet a set of specified conditions and criteria. To qualify, the investment entity must hold a valid investment license issued by KDIPA.
Applicants are also required to provide a clean criminal record, possess a passport valid for at least six months, and submit documentation verified by the investment entity, which assumes legal responsibility for the accuracy of all submitted information.
The decision further stipulates that investment entities sponsoring investor residency permits must meet several technical requirements. These include maintaining a minimum investment value of KD5 million and a minimum capital of KD1 million, with proof that the capital has been deposited within Kuwait.
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