Kuwait Court of Cassation principle number 1656

The principle is that a non-Kuwaiti may not engage in business unless he has a Kuwaiti partner or partners. The exception: funds deposited by a non-Kuwaiti with banks or companies, or agreements he concludes with them to invest those funds for his account and to deal in foreign currency and precious metals, if this falls within those companies’ purposes. This applies to transactions preceding the law enacted in that regard. - Declaration of a company’s bankruptcy:-