The strategic location of a country has always been an
important determinant of its trade and commerce. Kuwait
is, without doubt, perfectly located to service the emerging
markets in northern Iran, Iraq, Turkey, the Commonwealth
of Independent States or the CIS. The Kuwait Free Trade
Zone (KFTZ), located strategically in Shuwaikh Port, provides
access to these big potential markets.
Shuwaikh port, home of the KFTZ, is owned and operated
by the Kuwait Ports Authority (KPA). During the past few
years, KPA has engaged in massive renovation and modernisation
of its management and operation systems resulting in considerable
increase in both efficiency and productivity. The privatisation
of the cargo and container handling activities and computerisation
of the
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tariff, financial and administrative
systems have made KPA a modern port facility. |
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Investment in the KFTZ entails incentives
such as:
Exemption for taxation on all corporate and personal forms
of income.
Capital and profits are freely transferable outside the KFTZ
and not subject to any exchange control.
Hundred per cent foreign ownership is permitted and encouraged.
Policy of promotion of Free Trade. |
The KFTZ is quite close to the international
airport, a major city - and close to the Iranian border. The
management being in private hands would ensure all professional
support for the industries. In addition, it has ample supply
of energy and water, state of-the-art communication systems
and excellent transportation systems by sea, land and air. |
In keeping with the KFTZs objective of offering the most
technologically advanced services in the world, the telecommunications
systems are designed to cater to the investors local and
international needs. Through a decentralised network and utilising
fibre optic cabling, KFTZ provides both the basic services that
international customers have come to expect, as well as most of
the cutting edge technical services currently available. The high-tech
features that will be available include voice mail service, four-level
divert, call line ID, remote access to voice mail, direct interface
to Internet telephony, etc.
The KFTZ offers services such as:
Simplicity in obtaining licenses.
Attractive facilities to recruit and accommodate foreign workforces.
Fast processing of residency and entrance permits.
Simple and efficient procedures through the One-Stop Shop.
On-site banking and financial services.
On-site consulting services.
24-hour service to all investors.
Fast and flexible service.
A modern handling system with limited official interventions.
Attractive service rates and business environment.
Ongoing commitment to innovative service developments.
Depending on the requirements of the investors, the KFTZ issues
four basic licenses:
A commercial license for companies that wish to engage in trading
activities in general such as import/export or distribution/storage.
An industrial license to allow an investor to undertake activities
related to manufacturing, assembly, packing and/or repackaging.
A service license to investors who offer services such as financial
services, management consulting, auditing, law firm services and/or
engineering.
A special license can be issued to investors engaged in any of
the above activities but who have special requirements.
For more information, visit www.kuwaitfreezone.com
How to Obtain A License In the KFTZ
Step Procedure Action by Duration
1. KFTZ information package is made available to investor. A D
2. Perform KFTZ presentation to investor. B 24 hr
3. Investor submits the application to KFTZ B D
4. Review and approve completed application B 24 hr
5. Discuss facilities and services and finalise requirements.
C 24 hr
6. Deliver contract to investor for review B 24 hr
7. Negotiate and finalise contract A+B D
8. Sign the contract A+B D
9. Issue the license B 24 hr
A. Applicant B - KFTZ Marketing Dept C - KFTZ Committee D - Depends
on applicants response
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