Kuwait City: The Kuwaiti government has decided to grant 15-year residency to foreign investors.
According to a report by a foreign news agency, it has been decided to issue a 15-year permit for foreign investors, companies and those working on business projects to boost the economy in Kuwait.
The report said that the authorities are going to amend the residence and work permit laws to strengthen the economic system, in this regard the said step was taken.
Under the current system in Kuwait (Article 18), visa holders will be granted residence on state guarantee for a period of 15 years, thus ending the process of renewal or cancellation of residence by the sponsor.
Approval will be given soon in this regard. It is to be noted that this project is currently under discussion with the concerned authorities, especially the Ministry of Home Affairs and the Public Authority for Manpower.
Foreigners residing abroad for more than 6 months began to be canceled?
Kuwaiti authorities, on the other hand, have dismissed the cancellation of the stay of foreigners living abroad for more than six months, saying no such law has been enacted.
The Kuwaiti Residency Affairs Department clarified that the residency of foreigners residing outside Kuwait will not be revoked and the process of online renewal of residency will continue, to prevent the renewal of residence permits (residency) for those living outside Kuwait. There is no new law in this regard.