Kuwait tightens corporate oversight; 516 firms lose license
. . . for failing to file financial statements for three consecutive years
Minister of Commerce and Industry Khalifa Al-Ajil has issued Ministerial Decision No. 196 of 2025, ordering the revocation of commercial licenses for hundreds of companies that failed to meet their legal financial disclosure obligations.
According to the decision, the licenses of 516 companies have been cancelled after they did not submit their financial statements for three consecutive years.
This measure was taken in accordance with Paragraph 7 of Article 266 of the Companies Law, which mandates strict compliance with financial reporting requirements, reports Al-Jarida daily.
The decision further directs the initiation of dissolution procedures for the affected companies, in line with the provisions of Article 266 of Companies Law No. 1 of 2016.
The concerned companies will be formally notified to begin liquidation processes in accordance with the law.
Article Three of the decision assigns responsibility for implementation to the relevant authorities, each within their respective jurisdiction, and confirms that the ruling takes immediate effect from the date of issuance.
The decision will also be published in the Official Gazette to ensure public awareness and legal enforceability.
