KUWAIT CITY, Sept. 10 (Xinhua) -- It will take only three days to set up a company in Kuwait, thanks to the measures announced on Sunday by the government to improve the business climate.
The time spent on setting up a shareholding company in Kuwait will be reduced from 60 days to only three days and from 30 steps to only four steps, the Kuwaiti Ministry of Commerce and Industry said in a statement carried by the official news agency KUNA.
The move is part of a new set of guidelines planned by the ministry, the ministry's Assistant Undersecretary for companies and commercial licenses Ahmad Al-Faris said in the statement.
Since April, the ministry has eased procedures on opening company branches and microenterprises, Al-Faris said.
The ministry has also completed the guidelines on streamlining the procedures involving setting up different kinds of companies, including limited liability firms and companies of sole ownership.
The steps were taken amid the ministry's plans to facilitate procedures for businesses and startups in Kuwait so to improve its business climate, Al-Faris said. Enditem
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