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New Commercial licenses law to get underway in Kuwait soon

Plans for new commercial licenses law in Kuwait are ready, confirmed the Commerce and Industry Minister, Anas al Saleh.

The single-window system will enable trade through single-window system, and will offer traders the opportunity to complete all paper-works and permits pertaining to various state institutions and ministries through one state body.

The law which is currently in the form of a draft, has taken long time for completion. But, it has undergone wide revision, aiming to bring it on par with international equivalents.

The practical experiences of nations of huge expertise in issuing commercial licenses have been studied closely by Kuwait, to determine exact errors or obstacles that affect Kuwaiti system, with the Ministry being determined to improve Kuwait industrial and commercial environment, he said.

The law takes into account public interest, and organizes documentation required for each and every step pertaining to issue of these licenses according to a precise timeframe.

Before issuing the legally binding document, traders will be handed a ‘temporary permit’ that grants them a grace period, during which they will have to complete necessary paperworks, but, provisional document will be discarded soon.

As for the proposed fee, it would depending on the nature of business along with nature of applicant, irrespective of whether it is a single entry or group of owners.

The commercial activities allowed in the country has been carefully categorised, and law aims to achieve balance between interest of the license applicant and others. It is important aim of drawing trade and investment in Kuwaiti market in a business environment that is flexible, updated and serves investors, he said.

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