Kuwait has announced new rules for real estate ownership, according to media reports in the country.
Citing reports in Arabic-language newspaper Al Seyassah, the Arab Times said that new rules on real estate ownership are provided according to the nationality of the purchaser.
Citizens of the UAE, Saudi Arabia, Oman, Bahrain and Qatar are able to purchase property in Kuwait without any restrictions, recognising the close bond between GCC countries, said the report.
Kuwait real estate
Arab nationals of non-GCC countries are permitted to buy real estate in Qatar if certain criteria are met. These criteria include:
- A reciprocal agreement for real estate purchases with the buyer’s home country
- Property must be in a residential area and designated for housing
- Buyers must have been resident in Kuwait for at least 10 years
- Buyers must have a clean criminal record
- Property must be less than 1,000sq m
- Buyer can only own one property in the country
Further regulations are outlined in the case of inheritance and changes of citizenship.
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