Guide

Exporting to Kuwait

Advantages and challenges of exporting to Kuwait

There are advantages and disadvantages of doing business in Kuwait.

Advantages

  • no taxation on personal income
  • growing diversification within the Kuwaiti economy
  • earmarked government investment of £71 billion on infrastructure projects
  • Public Private Partnership (PPP) approach for infrastructure projects
  • English widely spoken
  • free trade zone
  • stable regime
  • strategic location in close proximity to other Gulf markets
  • Kuwaiti dinar is highest-valued currency unit in the world
  • friendly living environment for foreigners
  • more than half of Kuwait nationals under 25
  • moderate business costs

Challenges

  • physical presence needed as long term relationships need to be formed
  • restrictions on company ownership by non-Gulf Cooperation Council (GCC) nationals
  • identifying suitable sponsors for initial entry into the market
  • finding an appropriate Kuwaiti partner for joint ventures
  • bureaucracy
  • slow speed of decision making
  • tendering process can be difficult to navigate
  • extremely hot weather in summer season slows down outdoor activity
  • Kuwait is mid table ranked in the World Bank’s ‘Ease of Doing Business