First Deputy Prime Minister Hands Over First Golden Residency to Chairman of Lulu International Group - Sarmad
(KUNA) – First Deputy Prime Minister and Minister of Interior Sheikh Fahd Youssef Al-Saud Al-Sabah handed over the first Golden Residency, valid for 15 years, to Yusuf Musliam, chairman of the board of directors of the Lulu Group International, as part of the Golden Residency system adopted in the country in accordance with established regulations and conditions.
The Ministry of Interior stated in a press release that this step aligns with government initiatives aimed at supporting the national economy and enhancing the investment climate in the State of Kuwait.
The statement quoted Sheikh Fahd Al-Yousef as saying that launching the Golden Residency is a strategic step within the broader effort to develop the residency system, attract high-quality investments and capital, and strengthen Kuwait’s position as an attractive economic hub, in line with the state’s development plans and future vision.
He clarified that granting Golden Residencies reflects the state’s vision to provide a stable and conducive investment environment, bolster confidence in the administrative and legislative framework, and contribute to supporting the national economy and opening broader horizons for sustainable development.
He noted that the Ministry of Interior, in coordination and cooperation with the Investment Promotion Authority and the Public Authority for Civil Information, has developed an integrated Golden Residency system based on clear principles and standards that follow best practices and achieve a balance between facilitating procedures and maintaining legal and regulatory frameworks.
He emphasized the Ministry’s commitment 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 pointed out that granting Golden Residencies demonstrates the state’s commitment to supporting partnerships with the investment sector and empowering investors to conduct their businesses in a safe and stable environment, reaffirming the ongoing efforts to update systems and procedures to keep pace with economic and developmental changes.
The handover ceremony was attended by Acting Assistant Undersecretary for Supporting Security Services, Brigadier Fawaz Al-Roumi.
