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Decree-Law No. 78 Of 2026 On Combating Commercial Concealment
Kuwait has enacted its first standalone law criminalizing commercial concealment, commonly known as 'fronting' or hidden ownership arrangements. The legislation establishes dual prohibitions on unlicensed economic activity and enabling concealment, while extending criminal liability to company management and offering financial rewards to whistleblowers. Set to take effect in early 2027, this regulatory framework aims to enhance business transparency and ensure foreign investment flows through compliant stru
Kuwait Commercial
GLA & Company
Article
CBK Restricts The Use Of Structures Built On State-Owned Land As Collateral
The Central Bank of Kuwait has issued a directive prohibiting financial institutions from accepting mortgages over buildings constructed on state-owned land as qualifying collateral. This regulatory intervention closes a market practice gap and carries significant implications for project finance structures, particularly affecting lenders who had previously accepted such security arrangements outside the PPP framework.
Kuwait Finance
GLA & Company
Article
Kuwait Updates Its UBO Rules: What Ministerial Decision No. 156 Of 2026 Means For Companies And Investors
Kuwait's Ministry of Commerce and Industry has dramatically shortened the compliance deadlines for beneficial ownership disclosure, compressing the filing window from 60 days to just 15 days. Companies must now establish UBO registers, notify nominee arrangements, and submit ownership data to the registrar within this compressed timeframe, creating immediate operational pressure and heightened penalty exposure.
Kuwait Commercial
GLA & Company
Article
Decree Law No. 67 of 2026: The Corporatization of Kuwait’s Oil Sector
Kuwait's Decree-Law No. 67 of 2026 fundamentally restructures Kuwait Petroleum Corporation, shifting it from a heavily regulated public entity to a commercially managed enterprise with board-led governance and streamlined contracting powers. The amendments remove prior-oversight constraints, prohibit local agency intermediation, and position KPC as a quasi-holding company with expanded authority over subsidiaries, financing, and procurement. What do these reforms mean for international counterparties, lende
Kuwait Commercial
GLA & Company
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