The Ministry of Commerce and Industry has shortened online procedures for establishing shareholding companies.
The ministry said in a statement on Sunday that the procedures have been cut from 17 steps to only four, doable within 24 hours instead of 60 days as was the case previously.
Simplifying the procedures for establishing the shareholding companies came in coordination with various divisions of the ministry tasked with boosting competition in the domestic business sector.
The statement affirmed the approach to cut red tape regarding all services provided by the department.
Among the facilitated steps is acceptance of A founder’ criminal record provided by the criminal evidence department of the Ministry of Interior and link-up with the Ministry of Justice to document A contract electronically.
Source: Kuwait News Agency