On 7-Oct-2012, the Investor’s Service department from The Kuwait Foreign Investment Bureau (KFIB) organized a presentation in cooperation with the Insurance Department of the Ministry of Commerce and Industry. The presentation targeted the Insurance companies in which they defined Law No. 8/2001 regarding the direct foreign investment in the State of Kuwait. They also elaborated on the benefits KFIB has to offer such as 100% foreign ownership, exemption from taxes for up to a maximum of 10 years, and also exemption from custom fees. With the progression of foreign investment, increases the modern technology, support of the local private sector, and provides employment opportunities for Kuwaiti nationals. KFIB representatives also clarified the possibility of converting insurance subsidiaries to insurance companies subject to the foreign investment law.
