Core Facts
- Population: 4M
- GDP: USD 114 billion
- GDP per head: USD 35,889
- Unemployment (2017): 2.2%
Regulatory
- Government debt: 11.2% of GDP
- Personal income tax: 0%
- Corporation tax: 15%
- World corruption ranking 2016: 75th Transparency International
- Ease of doing business ranking: 98th Business Freedom Index
- Labour law: ILO Conventions ratified
- Data protection: Not recognised by EU as having adequate protection
Kuwait has seperate labour regulation for the public and private sectors. Private sector labour law is enforced by the Ministry of Social Affairs and Labour.
The Kuwaiti Commercial code provides that non-Kuwaitis cannot engage in commerce in Kuwait without having a Kuwaiti partner who’s equity holding is at least 51%. The code also provides that a foreign company cannot establish a branch in Kuwait and it may not engage in commercial activities in Kuwait except through a Kuwaiti agent.
Regardless of this, the Kuwaiti economy relies primarily on foreign workers, who represent around 84% of the country’s workforce.