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INTRODUCTION Business structures which can be formulated in Kuwait are regulated by the Commercial Companies Law 15 of 1960, as amended. Points relevant to foreigners, are also covered in the Commercial Law No 68 of 1980. The Companies Law is administered by the Companies Department at the Ministry of Commerce and Industry. The term 'company' is often used to mean any type of business entity and the term 'partner' to mean who takes part in the business entity. It is important to note that since all the laws are originally written in Arabic and then translated into English, the precise version of the former tends to be used differently: e.g. the Arabic words for 'company' and 'partnership' are only closest approximations which resemble the western concept of the company or a partnership. |