Kuwait Issues 1,895 Private Company Licenses

Recent statistics from the Ministry of Commerce and Industry, as reported by Al-Anbaa newspaper, show a significant increase in major public companies’ licenses issued in Kuwait.

In January, there was 28% growth, reaching 1,895 licenses compared to 1,481 licenses in December 2023. Additionally, the number of licenses for company branches rose from 286 in December to 414 in January, marking 45% growth.

The statistics showed that the total transactions completed by the department during January 2024 witnessed a 29% growth compared to December. This increase was due to the rise in completed transactions, increasing from 3,298 in December to 4,071 in January.

These transactions encompass issuing new licenses for private companies, renewing licenses, changing addresses and trade names, dissolving and liquidating companies, cancelling licenses, and issuing Gulf branch licenses.

For the main company license renewal transactions, their number reached 849 licenses in January, compared to 655 licenses in December, marking a 30% increase.

Meanwhile, the number of transactions for renewing licenses for branches of private companies reached 269 transactions in January, compared to 228 transactions in December, showing an 18% increase.

Regarding address change transactions, there was also a growth in their number, with 1,059 transactions for the main companies in January compared to 908 transactions in December, representing a 17% increase.

Similarly, address change transactions for company branch licenses increased to 236 transactions in January compared to 187 transactions in December, indicating a 26% increase.

The statistics also revealed an increase in trade name change transactions. In January 2024, there were about 204 transactions for the main private companies, compared to 183 transactions in December, marking an 11% increase.

Additionally, there were 72 transactions for branches of private companies in January, compared to 53 transactions in December, showing a 36% increase.

Regarding company dissolution, liquidation, and license cancellation transactions, the number of transactions in January reached 64 for the main companies, compared to 71 transactions in December, indicating a 10% decrease. For branches of companies, there were 114 transactions in January, compared to 103 transactions in December, showing an 11% increase.

During the same period, there were also four new licenses issued for Gulf branches in January, compared to just one license in December 2023, marking a 300% increase.

Types of companies

Regarding the transactions for various types of company licenses, statistics revealed that 1,358 licenses were issued to one-person companies in January 2024, compared to 1,046 licenses in December, marking a 30% increase.

Additionally, licenses for limited liability companies saw the issuance of 932 licenses in January, compared to 701 licenses in December, showing a 33% increase. However, the issuance of licenses for joint liability companies decreased to 12 licenses in January, compared to 14 licenses in December, reflecting a 14% decrease. The number of licensed limited partnership companies in January was 10, compared to 11 companies in December, indicating a 9% decrease.

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