Article 95 of Companies Law

The company's capital must be sufficient to achieve its purposes and must be in Kuwaiti currency. The Executive Regulations shall specify the minimum capital of the company and the proportion of Kuwaitis and others in the company's capital. Chapter Two Conditions of Incorporation (1) Article 96 The contract of a limited liability company must include the following particulars: 1 - The company's name and address. 2 - The partners' names, surnames and nationalities. 3 - The company's head office, email address or post office box. 4 - The company's duration, if any. 5 - The purposes for which the company was incorporated. 6 - The amount of the company's capital and the cash or in-kind interests contributed by each partner therein. (1) Item 3 amended pursuant to Law No. 15 of 2017 Law Index 1481 Home Page Companies Law Law No. 1 of 2016 promulgating the Companies Law - The names of those entrusted with managing the company, whether partners or others, or a statement of the manner of their appointment, and the names of the members of the supervisory board in cases where the law requires such a board. - The manner of distributing profits and bearing losses. - Any other particulars required by the Executive Regulations. Article 97 (1) A limited liability company shall not be incorporated unless all cash interests have been allocated among the partners and the in-kind interests have been delivered to the company. The Executive Regulations shall specify the time limits for depositing cash interests in local banks. Chapter Three Legal Regime of Interests Article 98 (2) The company's capital shall be divided into equal interests whose value shall be determined by the memorandum of incorporation, and each interest shall be indivisible. If a single interest has multiple owners, they must select one person from among themselves to represent them vis-à-vis the company.