No. | Procedure | Time to Complete | Associated Costs |
1 | File with the Department of Partnerships (DOP) at the Ministry of Commerce (MOC) an application to set up the company, obtain background clearance | 2 days | no charge |
2 | Pick a name for the company and file an application with the Commercial Register | 1 day | no charge |
3 | Retrieve from the Department of Partnerships the notes addressed to the bank and to the municipality. | 1 day | no charge |
4 | Deposit the legally required initial capital in a bank and obtain deposit evidence | 1 day | no charge |
5 | The Municipality Inspects the company’s premises and issues a certificate. | 5 days | no charge |
6 | Obtain a memorandum of association form from the Department of Partnership | 1 day | no charge |
7 | Sign and notarize the memorandum of association before a public notary | 1 day | KWD 15 for a 10 page Memorandum (KWD1.5 per page) |
8 | Obtain from the Department of Partnerships a license to start activity | 2 days | KWD 37 |
9 | Register with the Commercial Registry | 1 day | no charge |
10 | Register with the Kuwait Chamber of Commerce and Industry | 1 day | KWD 65 initial registration, then yearly KD55 for renewal of membership |
11 | Register with the Civil Data Department | 15 days | KWD 5 |
12 | Open a company’s labor file at the Ministry of Labor and Social Affairs | 15 days | no charge |
Source: http://www.doingbusiness.org
