Starting a business anywhere in the world can be terrifying. Especially if you’re starting a business as a foreigner in Kuwait. However, if a lot of paperwork and days and weeks of waiting don’t scare you, you’re on a good path to become successful. For that reason, we at Easy Move Kuwait have decided to give you a couple of tips on how to create a company that will serve the community well and will respect the laws of the country.
Starting a business as a foreigner in Kuwait requires you to have a plan
When you’re a foreigner that wants to open a business in Kuwait you need to have a good plan. Primarily having in mind how difficult it can get. Firstly you should research the country’s policy. Also, tax laws and regulations are different for a foreigner. Expect a lot of paperwork that needs to be checked before you can start packing boxes in Kuwait and begin working. However, that shouldn’t scare you away from a huge business opportunity like Kuwait.
Get to know Kuwait
Even before you wanted to start a business in Kuwait you’ve probably heard of the businessman of Kuwait. They are famous for their negotiating skills and are tough when it comes to bargaining. Some of the attributes they appreciate are honesty and hard work. So if you want success in starting a business as a foreigner in Kuwait try to follow in their footsteps. Being friendly and a good person overall that helps others will also open many doors for you. When you first show that you’re a genuinely good person, success with logistics companies in Kuwait and other types of business-related actions will surely follow.
Types of businesses in Kuwait
If you plan on starting a business in Kuwait it’s a good plan to know what are the types of business here. It all depends on the type of company you want to open, but there’s everything covered. From shipping boxes in Bahrain to a local moving company in Kuwait everything has its place. So here are the types you’ll have available:
- Limited liability company (WLL) – This is the easiest way to start a business as a foreigner in Kuwait. It’s the most common as well, but it comes with certain limitations.
- Joint-stock company (KSC) – This is a great option if you plan to go public and if you want investments from individuals. However, don’t forget that 51% of the company needs to be owned by a Kuwaiti national
- Agreement with a local commercial agent – If you want to have a business in Kuwait but not operate from there, this is a great choice for you. The agent will take care of work in Kuwait for a small percentage of the earnings.
- Branch office – If you want to go around the commercial agent this is what you need. However, this option is only available to nationals from the Cooperation Council for the Arab States. If you’re coming outside of that group of states you will need special permissions to open a branch office.
Kuwait is a very open place when it comes to businesses. You need to be courageous and follow your plan to create a successful company. We just hope that our tips helped you facilitate starting a business as a foreigner in Kuwait. If you follow the Kuwaiti rules and regulations and create a brand that will find its place in the community the sky’s the limit when it comes to your success. Good luck with your business!