Expatriate Forums in Kuwait

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KUWAIT Business Directory

Kuwait Chamber of Commerce & Industry

About Chamber

• Non-profit, self financed private institution, established by Ameri decree issued in 1959.

• Currently the registered members exceeds 79000 and represents the general assembly.

• The general assembly elects 24 members for the Board of Directors for a period of 4 years, half of whom are elected every two years.

• Subscriptions and authentication fees are the main resources of income.

• The President and the Board Members are considered volunteers for public services.

• The Chamber is a consultative entity in all economic affairs.

Contact :

Commercial Area # 9, Al-Shuhadaa St. Kuwait City
Phone : (965)805580 Ext.#555
Business Center : (965) 2423555 - (965) 2423666
Fax : (965)2460693
P.O. Box : 775, Safat 13008 - Kuwait
Email : kcci@kcci.org.kw

Source: http://www.kuwaitchamber.org.kw

World Trade Center Kuwait

Souk Al Safat Building 2nd Floor
P.O. Box 28807
Safat 13149
Kuwait

Phone:9.65.2420492

Fax:9.65.2455891

Email: omar@global.com.kw

Contacts:
Mr. Omar El-Quqa
CFA, Executive Vice President

Kuwait Free trade Zone (KFTZ)

The strategic location of a country has always been an important determinant of its trade and commerce. Kuwait is, without doubt, perfectly located to service the emerging markets in northern Iran, Iraq, Turkey, the Commonwealth of Independent States or the CIS. The Kuwait Free Trade Zone (KFTZ), located strategically in Shuwaikh Port, provides access to these big potential markets.

Shuwaikh port, home of the KFTZ, is owned and operated by the Kuwait Ports Authority (KPA). During the past few years, KPA has engaged in massive renovation and modernisation of its management and operation systems resulting in considerable increase in both efficiency and productivity. The privatisation of the cargo and container handling activities and computerisation of the tariff, financial and administrative systems have made KPA a modern port facility.

Investment in the KFTZ entails incentives such as:
Exemption for taxation on all corporate and personal forms of income.
Capital and profits are freely transferable outside the KFTZ and not subject to any exchange control.
Hundred per cent foreign ownership is permitted and encouraged.
Policy of promotion of Free Trade.
The KFTZ is quite close to the international airport, a major city - and close to the Iranian border. The management being in private hands would ensure all professional support for the industries. In addition, it has ample supply of energy and water, state of-the-art communication systems and excellent transportation systems by sea, land and air.

In keeping with the KFTZ’s objective of offering the most technologically advanced services in the world, the telecommunications systems are designed to cater to the investors’ local and international needs. Through a decentralised network and utilising fibre optic cabling, KFTZ provides both the basic services that international customers have come to expect, as well as most of the cutting edge technical services currently available. The high-tech features that will be available include voice mail service, four-level divert, call line ID, remote access to voice mail, direct interface to Internet telephony, etc.

The KFTZ offers services such as:
Simplicity in obtaining licenses.
Attractive facilities to recruit and accommodate foreign workforces.
Fast processing of residency and entrance permits.
Simple and efficient procedures through the One-Stop Shop.
On-site banking and financial services.
On-site consulting services.
24-hour service to all investors.
Fast and flexible service.
A modern handling system with limited official interventions.
Attractive service rates and business environment.
Ongoing commitment to innovative service developments.

Depending on the requirements of the investors, the KFTZ issues four basic licenses:
A commercial license for companies that wish to engage in trading activities in general such as import/export or distribution/storage.
An industrial license to allow an investor to undertake activities related to manufacturing, assembly, packing and/or repackaging.
A service license to investors who offer services such as financial services, management consulting, auditing, law firm services and/or engineering.
A special license can be issued to investors engaged in any of the above activities but who have special requirements.

For more information, visit www.kuwaitfreezone.com

How to Obtain A License In the KFTZ

Step Procedure Action by Duration
1. KFTZ information package is made available to investor. A D
2. Perform KFTZ presentation to investor. B 24 hr
3. Investor submits the application to KFTZ B D
4. Review and approve completed application B 24 hr
5. Discuss facilities and services and finalise requirements. C 24 hr
6. Deliver contract to investor for review B 24 hr
7. Negotiate and finalise contract A+B D
8. Sign the contract A+B D
9. Issue the license B 24 hr

Source: kuwait-info.com