The Ministry of Finance and representatives of Apple have set the guidelines for launching the Apple Pay service which is soon expected to be introduced in Kuwait, during a meeting last week between the two sides.
Official sources at the Ministry of Finance told Al-Qabas daily, Kuwait is keen to attract distinguished global services into Kuwait. “After we received an official letter from Apple to allow the company to launch the Apple Pay service, we took the issue very seriously, as solutions were found that would eliminate obstacles which obstructed the company’s launch of its banking service in the country some time ago.”
Efforts have been exerted for a while to allow the provision of the Apple Pay service in Kuwait by working to remove the obstacles related to tax fees imposed on foreign companies operating in Kuwait, and agreeing to enter the Kuwaiti market through the Direct Investment Promotion Authority portal by establishing a new company, which gives the company additional benefits, including tax exemption for a period of up to 10 years, say sources.
The sources added that after agreeing on all the details between the responsible authorities, the company is expected to submit a request to the Direct Investment Promotion Authority during the coming period to establish Apple Kuwait to operate in the country.
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