Kuwait - Joint Ventures/LicensingKuwait - Joint Ventures/Licensing
Foreign businesses are offered several incentives to establish joint ventures with Kuwaiti firms, including partial relief from Kuwaiti corporate taxes. In 2008, the foreign corporate tax rate was reduced to 15%. Given that all government procurement must be conducted with Kuwaiti citizens or firms, the joint venture model is a good vehicle to enter and maintain a long-term presence, especially for companies offering after-sale services and/or companies with regular client interaction.
A joint venture is considered a legal entity that is the ownership of any two parties (the majority stake being Kuwaiti), and as such, official notification in the Commercial Register is required. It is common for several foreign contractors and engineering firms involved in a major public contract to form a joint venture or consortium. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
A joint venture is considered a legal entity that is the ownership of any two parties (the majority stake being Kuwaiti), and as such, official notification in the Commercial Register is required. It is common for several foreign contractors and engineering firms involved in a major public contract to form a joint venture or consortium. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.