Effective as of 21 January 2024: Foreign companies do not need a local agent to do business in Kuwait

Following the Kuwait law alert we issued last week, Law No.1 of the year 2024 (“Law 1/2024”), amending Article 24 of Decree No. (68) of 1980 promulgating the Commercial Law (“Commercial Law”) and Article 31 of Law No. (49) of 2016 promulgating the Public Tenders Law (“Tenders Law”) has been officially published in the Kuwait Official Gazette dated January 21 2024 and shall take effect from the date of its publication.

We anticipate that each Ministry will issue resolutions relating to Law 1/2024 and provide practical guidance to its implementation in due course.

Please see here for an informal translation of the amendments and the explanatory memorandum.

We are available to offer additional information on this recent development and can assist your organization in navigating the new regulatory landscape.

To learn more about the details of this alert, please reach out to one of our key contacts.