Article 235 of Companies Law

Except for concession or monopoly companies, closed shareholding companies may be incorporated, without the need to obtain a decision from the Minister, by an authenticated official instrument executed by all founders, whose number must not be fewer than five. Companies established by the State or a public authority or institution shall be excepted, as these may undertake incorporation alone or involve a smaller number. This instrument shall include the company's memorandum of association and the following declarations: 1- That the founders have subscribed for all shares and deposited the portion of their value required by law to be paid in a local bank at the company's disposal. 2- That contributions in kind have been valued in accordance with the provisions of the law and have been paid in full. 3- That the founders have appointed the necessary administrative bodies of the company. 4- A copy of the papers and documents supporting the aforementioned declarations shall be retained with the official instrument. In all cases, the company's name must be followed by the phrase “Kuwaiti Closed Shareholding Company” or the abbreviation “K.S.C.C.”