Kuwait Court of Cassation principle number 22

Engaging in trade is prohibited for a non-Kuwaiti unless he has a Kuwaiti partner or partners whose capital is not less than 51%. Article 23/1 of the Commercial Code. - The Economic Agreement between the States of the Gulf Cooperation Council, which the State of Kuwait approved pursuant to Law 5 of 2003 and which has been effective from the date of its publication in the Official Gazette on 24/3/2003. Its implication. Equal treatment of Council citizens in any member state in the economic sphere, without differentiation or discrimination. The effect of this. Priority of application of the provisions of this Agreement when they conflict with the domestic laws and regulations of member states. - Commercial activity consisting of the conclusion of a lease contract between a Kuwaiti and a citizen of a Gulf Cooperation Council state after - 11 - Commercial the date the Economic Agreement entered into force. The provisions of Article 23 of the Commercial Code do not apply to it. Its effect. No invalidity.