Living as an expat in a foreign country such as Kuwait, subjects individuals to certain limitations due to citizenship status and other related matters. And while this is common in most countries anywhere in the world – apparently, there is a specific law in Kuwait which allows expats and eligible foreign workers to acquire a real estate property under certain circumstances, as shared in a report by the Arab Times.
According to Kuwaiti laws, expats can acquire a real estate property of up to 1,000 sqm that must be exclusively used for private housing. By virtue of this Kuwaiti law, Kuwait nationals based in the countries of expat grantees should also be given the same privilege to own a real estate property for the said allowable purpose.
Qualified Expats can acquire a Real Estate Property in Kuwait
Expatriates who wish to avail of this benefit must possess the following:
- Valid residency permit
- A substantial source of income
- A clean criminal record in the host country
The Ministry of Justice will receive and evaluate the application of expats to be allowed real estate ownership in the State to make sure that the applicant will rigidly comply with the set basic requirements.
Furthermore, the ministry will also look into the documents related to the applicant as well as his family, as part of the review process.
After the application has been approved, it will then be forwarded to the Minister of Justice and then to the Cabinet. The application will then go through a review from the Ministerial Committee. After this, a decision to approve the application will be released once all requirements have been thoroughly met.
Other than those who have received permanent residency (PR) status, only naturalized citizens are allowed to acquire real estate properties in most countries all over the world, and not just in Kuwait. This means that expats are subjected to paying higher rents to afford proper accommodation in their host country, in cases where they are not sponsored by their respective companies or employers.