Kuwait Archives - Page 30 of 33 - LexisNexis Middle East

Kuwait: Applications for a Virtual Telecommunications Operator Now Open

19/07/201911/12/2019
by Benjamin Filaferro

Kuwait’s Communications and Information Technology Regulatory Authority has announced it is accepting applications for a virtual telecommunications operator in the country. When the license for this virtual operator is issued, they will be the fourth telecommunications provider in the country. They will join Ooredoo, Viva and Zain. Applications have to be submitted by 14 November and the successful applicant will be announced by 6 February 2020.

News developments

Amendments to Kuwait Companies Law Approved

06/07/201911/12/2019
by Benjamin Filaferro

Kuwait’s National Assembly has approved various legislation at their second reading, including an amendment to the country’s Companies Law. The Assembly approved an amendment to the country’s Companies Law, Kuwait Law No. 1/2016 at its second reading. If approved, non-profit organisations will not be able to convert to profitable entities. It will also allow shareholders to assess a company’s position, prohibit the dissolution of a company because of capital loss and allow shareholders and owners to correct a company’s path.

News developments

Kuwait: Expatriate Committee Established

24/06/201911/12/2019
by Benjamin Filaferro

According to local newspaper reports, the Kuwaiti Government has announced it has established a Committee to oversee the reduction of expatriate numbers in the country. The committee consists of representatives from a number of Government agencies and bodies including the Social Affairs and Labour and Interior Ministries and the Public Authority of Manpower. Various measures to ensure a reduction in these numbers have been proposed.

News developments

Kuwait: Amendments to Tenders Law Approved

15/06/201911/12/2019
by Benjamin Filaferro

The Financial and Economic Committee of Kuwait’s Parliament has approved the amendments to the Tenders Law. Under the amendments, the National Fund for Small and Medium Enterprise Development’s will join the board of directors of the Central Agency for Public Tenders. Membership terms and grievance periods are also laid out. It will receive its second reading next week.

News developments

Kuwait: Overtime to be Regulated

07/06/201911/12/2019
by Benjamin Filaferro

The Undersecretary of Kuwait’s Health Ministry has asked all assistants, departments, health zone and hospital directors to list the employees authorised to work overtime, the work they do and how much they get paid. The aim is to ensure proper systems are in place for overtime and prevent profiteering. Overtime must also be approved by the Undersecretary and social media guidelines are also being drafted. Anyone who violates the guidelines will be punished.

News developments

Kuwait: Draft Law Granting Citizenship to up to 4,000 People

25/05/201911/12/2019
by Benjamin Filaferro

The rapporteur of the Interior and Defence Committee of Kuwait’s Parliament has announced a draft law, which if approved, will grant citizenship to up to 4,000 people. It has been submitted to Parliament to consider and it is hoped it will be approved before the end of Parliament’s current term. If approved, those looking to benefit from it will have to submit all of the necessary documents and records before they can benefit from the Law.

News developments

Kuwait: New Insurance Law Approved

18/05/201911/12/2019
by Benjamin Filaferro

Kuwait’s National Assembly has approved a new Insurance Law in the country at first reading. The changes would be the first to the legislation since 1981. MPs are still debating whether the sector should be regulated by the Central Bank or the Commerce Ministry but have called for a bespoke regulator not to b established. While Kuwait was the first GCC country to regulate its insurance sector they are the last to amend the legislation to reflect sectorial developments.

News developments

Kuwait: Draft Expatriate Remittance Tax Law Withdrawn

05/05/201911/12/2019
by Benjamin Filaferro

According to sources in Kuwait, the draft Expatriate Remittance Tax Law has been withdrawn. It followed strong Government criticism of the proposed legislation. Amid concerns the Government would have rejected it, MPs withdrew the legislation rather than risk rejection which would have meant 44 MPs would have had to of approved the reconsideration of the legislation in the country’s Parliament.

News developments

Kuwait: Expatriates to be Exempted from the Visa Transfer Ban

27/04/201911/12/2019
by Benjamin Filaferro

Kuwait Manpower Authority officials have announced the Authority is exempting expatriates from the visa transfer ban. However, the exemption will only apply if the expatriate employee initially transferred to a small company locally and then transferred their residency from a small project to the private sector. It does not apply to other expatriates.

News developments

Kuwait CMA Holds Awareness Campaign for Launching Qualifications Exam Project

20/04/201911/12/2019
by Benjamin Filaferro

Kuwait’s Capital Market Authority has announced it is launching an awareness campaign for its qualifications examinations project for registered employment positions. The project is being launched with the Chartered Institute for Securities & Investment. The project will result in the Professional Qualifications Programme which the Authority will implement by 30 September 2019.