Al-Yousef: Attracting Quality Investments
In line with government initiatives aimed at supporting the national economy and enhancing the investment climate in Kuwait, First Deputy Prime Minister and Minister of Interior Sheikh Fahad Al-Yousef handed over the first 15-year Golden Residence Permit to Yusuf Ali Musliam, Chairman of the Board of Directors of the Lulu Group International. The issuance took place as part of the Golden Residence system, which was approved in accordance with established regulations and conditions, in the presence of Acting Assistant Undersecretary for Supporting Security Services, Brigadier Fawaz Al-Roumi.
Sheikh Fahad Al-Yousef emphasized that the launch of the Golden Residence represents a strategic step within the framework of developing the residency system, attracting high-quality investments and capital, and strengthening Kuwait’s position as an attractive economic hub, in alignment with the state’s development plans and future vision. He further stressed that granting the Golden Residence aligns with the state’s vision to provide a stable and incentivizing environment for investment, enhance confidence in the administrative and legislative systems, and contribute to supporting the national economy and opening broader horizons for sustainable development.
He clarified that the Ministry of Interior, in coordination and cooperation with the Investment Promotion Authority and the Public Authority for Civil Information, has developed a comprehensive Golden Residence system based on clear principles and standards that keep pace with best practices, achieving a balance between facilitating procedures and maintaining legal and regulatory frameworks.
The Minister of Interior added that the Ministry is committed to continuously developing its services and providing specialized facilitations for investors, reflecting Kuwait’s civilized image, enhancing the climate of trust and stability, and serving the state’s higher interests. He noted that the issuance of the Golden Residence reflects the state’s commitment to supporting partnership with the investment sector and enabling investors to conduct their business in a safe and stable environment, reaffirming the ongoing efforts to update systems and procedures to keep pace with economic and developmental changes.
