Doing Business in Kuwait

Kuwait overview

Strategically situated at the northwest corner of the Arabian (Persian) Gulf, the State of Kuwait is a small, stable and prosperous country in what is sometimes a difficult neighbourhood. 

Kuwait’s economy is built almost entirely on oil production and the revenue from the investment of its oil profits overseas. This makes Kuwait a very wealthy country and allows the government to offer many benefits to its citizens. 

Companies who invest in Kuwait benefit from 100% foreign ownership, ten-year tax breaks, and exemption from tax and custom duties on imports required for the purposes of direct investment.

The export of services is a growing area, particularly in consultancy and financial services transactions.Kuwait is an important partner and longstanding friend to the UK. The Kuwaitis genuinely value the bilateral relationship – many consider the UK their second home. Kuwait is one of the single largest investors in the UK with around £100 billion of official funds invested through the City of London.

Strengths of the Kuwaiti market include the country's stable regime, strategic location in close proximity to other Gulf markets, friendly living environment for foreigners, moderate business costs and the Kuwaiti Dinar is the highest-valued currency unit in the world.

About this guide

This guide aims to provide a route map of the way ahead, together with signposts to other sources of help.

The main objective of this Doing Business in Kuwait Guide is to provide you with basic knowledge about Kuwait; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.

We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Kuwait. Full contact details are available in this guide.

To help your business succeed in Kuwait we have carefully selected a variety of essential service providers as ‘Market Experts’ Click Here.

The guide is available in 4 formats:

• this website

• a ‘free’ downloadable 'mobile device-friendly’ app – available from the iTunes App Store and Google Play store

• a full colour hard-copy brochure (to order your copy please Click Here)

• PDF download/e-flipbook (available to download below)

About IOE&IT

An introduction to the Institute of Export & International Trade

Established in 1935, the Institute of Export & International Trade is the professional membership body representing and supporting the interests of everyone involved in importing, exporting and international trade. Offering a unique range of individual and business membership benefits and a world renowned suite of qualifications and training, the Institute is the leading authority in best practice and competence for businesses trading globally.

To view other videos, please visit the IOE&IT YouTube Channel.

For more information visit: www.export.org.uk