The ISO code of Kuwait is KW according to the ISO 3166 standard. The local name of the country is Al Kuwayt. Kuwait capital city is Kuwait City. People in Kuwait speak the Modern Standard Arabic language. On 18 December 1969, Kuwait emerged as a sovereign political entity. In the year 12/18/1969, Kuwait emerged as a sovereign political entity. The largest city in Kuwait is Kuwait City.
Kuwait is located in the UTC +03:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Kuwait is .kw. The International dialing code for Kuwait is 965. People in Kuwait drive on the right side of the road. Total land area of Kuwait is 17,818 km² (approx. 6,880 mi²). Kuwait is not a landlocked country. It means that is is bordered by at least one major body of water.
Kuwait is located in Asia. Kuwait is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Kuwait faces various issues, including limited natural fresh water resources, some of world's largest and most sophisticated desalination facilities provide much of the water, air and water pollution, desertification.
Doing business in Kuwait
We offer various corporate services in Kuwait jurisdiction. These services can serve both, people coming from Kuwait and foreigners. If you plan on doing business in Kuwait you might be interested in contacting us.
To find out about starting your business in Kuwait click on company formation in Kuwait.
To find out how to open a bank account in Kuwait and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Kuwait.
Choose preferred service below or continue reading to find out more about Kuwait.
Demographics of Kuwait
The total population of Kuwait is 4,197,128 people. In Kuwait, the population density is 201 people per square kilometer (523 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Kuwait is 0.6604. Kuwait has approximately 2866136 foreign immigrants. The median age is approximately 28.9 years. In Kuwait, 79.18 in every 100 people use internet. Kuwait has a Human Development Index (HDI) of 0.814.
The majority religion of Kuwait is Islam, Kuwait is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Kuwait.
Culture of Kuwait
People in Kuwait speak the Modern Standard Arabic language. According to data on inbound tourists in Kuwait, 6,000 tourists arrive in the country each year. The first McDonalds in Kuwait was opened on 06/15/1994. One of the most popular national dishes of Kuwait is khubz. To read more click on culture of Kuwait.
Geography of Kuwait
Kuwait is considered to be a large nation because of its total area. Its total land area is 17,818 km² (approx. 6,880 mi²). Kuwait is located in Asia. Its capital city is Kuwait City. Kuwait has 2 neighbouring countries. Its neighbours include Iraq, and Saudi Arabia. Total length of land borders of Kuwait is 475 kilometers (~183 miles).
The highest point of Kuwait is Mutla Ridge, with its official height being 306 m (1,004 ft). Including land mass and EEZ, the total area of Kuwait is approximately 28,844 km² (~11,137 mi²). The most notable natural resources found in Kuwait are petroleum, fish, shrimp, natural gas.To read more click on geography of Kuwait.
Economy of Kuwait
The currency of the country is Kuwaiti dinar. The symbol used for this currency is د.ك, and it is abbreviated as KWD. 2.1% of population in the country are unemployed. The total number of unemployed people in Kuwait is 88,140. Each year, Kuwait exports around $112 billion and imports roughly $24.42 billion. The Gini Index of the country is 30. Kuwait has a Human Development Index (HDI) of 0.814.The Global Peace Index (GPI) for Kuwait is 1.626. Kuwait is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Kuwait is $282,638 billion. Each year, consumers spend around $50,135 million. The ratio of consumer spending to GDP in Kuwait is 0%, and the ratio of consumer spending to the world consumer market is 0.1445. The corporate tax in Kuwait is set at 0%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level. VAT in Kuwait is 16%. To read more click on economy of Kuwait.
Infrastructure of Kuwait
Infrastructure quality in Kuwait is rated to be at 3.16. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Kuwait, 97.7% of the population has access to electricity. There are 2,771 internet hosts in Kuwait. Kuwait has 7 airports nationwide.
The logistics performance index of Kuwait is 3.01. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.16. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Kuwait is 59. To read more click on infrastructure of Kuwait.
Politics of Kuwait
Kuwait, is a unitary constitutional monarchy. With regard to political and civil freedoms, Kuwait is 2. Citizens in Kuwait experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Kuwait, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
According to the World Bank Group, the government effectiveness index of Kuwait is -0.15. This indicates that the government of Kuwait is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Kuwait before considering any business maneuvers.In Kuwait, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Kuwait is 1.626. The strength of legal rights index for Kuwait is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. Kuwait is a member of the United Nations (UN). On 14 May 1963, it joined the UN as a full member state. Kuwait is a member of the World Bank. To read more click on politics of Kuwait.
Environment of Kuwait
Kuwait emits 28.1 metric tons per capita of CO2. 60 km² of Kuwait's territory is covered in forests. and forest land comprises 0% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Kuwait is 59. To read more click on environment of Kuwait.
Company formation in Kuwait
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Kuwait.
When establishing a company in Kuwait, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Kuwait that will affect the establishment and growth of one's business. Contact us or click on company formation in Kuwait to read additional information when setting up a business.
Bank account opening in Kuwait
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Kuwait. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Kuwait, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Kuwait or contact us.