The Kuwait Direct Investment Promotion Authority “KDIPA” seeks to attract international investments to the State of Kuwait in the fields of technology and other fields not available in the State of Kuwait, thus contributing to the enhancement of the non-oil revenues.
KDIPA provides many advantages attracting foreign capital to invest and operate in the State of Kuwait. Many international companies are willing to invest overseas, including the State of Kuwait, and therefore they should prepare and submit applications to KDIPA in accordance with applicable laws and regulations.
Accordingly, these global companies need to engage a specialized consulting company registered with the Authority to prepare these applications. Baker Tilly is a consulting firm registered with KDIPA and can assist these companies in achieving their goals.
What is the Kuwait Direct Investment Promotion Authority?
Kuwait Direct Investment Promotion Authority (KDIPA) was established in accordance with Law No. 116 of 2013 regarding the promotion of direct investment in the State of Kuwait, as a specialized public authority with financial and administrative independence. H.E. Minister of Commerce & Industry is the Chairman of its Board of Directors.
What are the main advantages and exemptions extended to the investor through the Direct Investment Promotion Authority?
- The law allows the investor to own shareholding of up to 100% by establishing a Kuwaiti company, whether a shareholding, limited liability or one-person company.
- Exemption from income tax or any other taxes for a period not exceeding ten years from the date of the actual commencement of operations of the licensed investment entity.
- Complete or partial exemption from taxes, customs duties or any other fees that may be payable on the imports required for the purposes of Direct Investment including raw materials, partially manufactured goods, wrapping materials and packaging, machinery, tools and equipment and means of transport, spare parts and necessary maintenance supplies and merchandise.
- The use of land and real estate allocated to the Authority or that is subject to its supervision or management, in accordance with the principles and rules established in this regard.
- The employment of foreign labor required for the investment, in accordance with the principles and restrictions set in this regard.
What are the main contents of the investment applications?
The application includes two main parts, namely:
- Key information and legal documents
- Detailed business plan for the project in accordance with the requirements and parameters of Law No. 116 of 2013, its executive regulations as amended, and the Procedural Manual for Kuwait Direct Investment Promotion Authority.
Why Baker Tilly to provide this service?
- Baker Tilly is distinguished by specialist professional experience and offers the following characteristics carrying added values to our clients as follows:
- A global consulting firm operating in the State of Kuwait;
- Baker Tilly is registered at KDIPA as an approved firm for applying direct investment applications on behalf of the investor;
- Local experience under an umbrella of a global network;
- Professional team with in- depth experience in providing investment consultancy services;
- Bilingual team.