Kuwait wooes wealthy foreigners with investor permit as war hits economy

Kuwait on Monday unveiled a new 15-year residency permit aimed at wealthy foreign investors and their families, a move designed to attract capital as the oil-rich state confronts economic headwinds linked to the US-Israel-Iran war. The Ministry of Interior said the scheme, approved by the Council of Ministers, applies to accredited investors, partners and owners of licensed investment entities who meet minimum capital and employment requirements, including at least $3.25 million in capital for approved investment activities.

"The move comes at a pivotal moment for Kuwait, which is taking a growth hit from the US-Israel-Iran war as the oil-rich state’s national overhaul strategy faces new obstacles," the announcement said.

The permit places Kuwait closer to Gulf peers that have long offered long-term residency to attract global wealth and talent, but it sets a higher entry bar than some neighbours. By comparison, the UAE's Golden Visa typically requires roughly a $550,000 deposit in an investment fund or national bank to qualify. Kuwaiti officials framed the new framework as supporting the country's Vision 2035 goal of transforming into a regional financial and commercial hub and as an extension of earlier efforts to strengthen the investment environment.

Context and economic pressure

The announcement arrives amid mounting economic strain. The International Monetary Fund in April revised Kuwait's real gross domestic product growth forecast for the year from 3.5% to -0.6%, citing the conflict's impact on Gulf energy exports and disruptions tied to the Strait of Hormuz. The IMF's revision placed Kuwait among the GCC states facing the most acute near-term contraction, with only one neighbour—Qatar—expected to shrink more this year.

Authorities are also balancing security and demographic policy priorities. One day before the residency announcement, the state revoked the citizenship of 2,193 people under a series of decrees. That step follows a broader nationality review that has resulted in tens of thousands of residents losing citizenship since 2024 on grounds including alleged fraud, dual nationality and considerations tied to state interests.

How the permit will work

• Eligibility: accredited investors, partners and owners of licensed investment entities who meet capital and employment conditions.
• Minimum capital threshold: $3.25 million for approved investment activities.
• Duration: residency permits for up to 15 years, extendable under the framework approved by the Council of Ministers.

Officials emphasized the policy is intended to draw long-term commitments that support job creation for Kuwaiti nationals and broader economic diversification. While the permit narrows the gap with neighbouring programs in the UAE, Saudi Arabia and Qatar, observers note the higher financial threshold will limit the candidate pool to very high-net-worth individuals and institutional investors.

Outlook

Policymakers hope the permit will help blunt the economic fallout of regional tensions and signal a renewed push to make Kuwait more attractive to international capital under Emir Sheikh Mishal Al Ahmad Al Jaber Al Sabah, who has sought to accelerate overdue reforms. Analysts expect Gulf states to continue rolling out measures aimed at courting foreign wealth and talent as they seek to stabilise investment flows shaken by the regional conflict.

How effective the 15-year investor permit will be in practice will depend on implementing regulations, ease of doing business on the ground, and broader political signals — including the government’s approach to nationality and security reviews that have seen thousands stripped of citizenship in recent years.