Having persued the constitution, and Law no. 15 for year 1960 concerning the commercial companies and all amended laws thereto; and

Persual to the law no. 32 for year 1968 concerning the monetary and the Central Bank and the monetary profession and all amended laws thereto; and

Referring to the Decree no. 68 for year 1980 concerning the issuance of the commercial law and all amended laws thereto; and

Persual to the law no. 52 for Year 1982 concerning the approval for the united Economic Agreement between the Gulf Cooperation Council Countries ; and

Referring to the Decree no. 33 for year 1988 concerning the permission for the citizens of the Gulf Cooperation Council to own shares in the Kuwaiti shareholding companies.

And persual to the Amiree Decree no. 31 for year 1990 with regards to regulating the trading in securities and the establishment of mutual funds;

The National Assembley has approved the following law and we have (certified) authenticated and promulgated it.

Article (1)

It will be permitted for non-Kuwaitis to own shares in the Kuwaiti shareholding companies existent during the undertaking of this law or that shall be established after it’s implementation.

They will also be granted the approval to participate in establishing these companies according to the following article provisions.

Article (2)

The ministry of Commerce and Industry shall specify the decision, after the ratification of the council of ministers, for regulating the participation of non-Kuwaitis in the Kuwaiti shareholding companies including indicating the limit of share ownership and the rights accrued.

Article (3)

Trading and settlement provisions applied in Kuwait Stock Exchange shall be implemented on the non-Kuwaitis in their share ownership in the Kuwaiti shareholding companies registered in the Exchange.

Article (4)

Provisions of this law shall not interfere with the rights and privileges; for the citizens of the Gulf Co-operation Council Countries, mentioned according to the rules of the Decree no. 33 for year 1988; in addition to the rights and benefits of this law.

Article (5)

All ministers each within his jurisdiction shall implement the provisions of this law.

Amir of Kuwait
Jaber Al Ahmed Al Sabah

Issued at Bayan Palace on 13 safar 1421 corresponding to 17 May 2000