KUWAIT CITY – Throughout the years, owning a land or a property in this Arab country is solely an advantage given to citizens. However, according to a source, there is this specific law that allows expatriates or foreign nationals to own a real estate property under certain regulations.
According to the law, expats can own a real estate property up to 1,000 square meters that can be used for housing. Furthermore, so as to return the favor, Kuwaitis should also be allowed to own a real estate to the countries of expatriates who were given the same advantage.
Expats who are planning to avail of this advantage needs to possess a valid residency permit, has a substantial source of income and not involved in any crimes or any case in the country.
It is the Ministry of Justice who will receive the application for the real estate ownership so as to ensure that applicants will comply with the basic requirements.
Once completed, the application will then be transferred to the Minister of Justice than to the Cabinet. The review of the application will be reviewed by the Ministerial Committee and a decree approving the application will be given once the application is met.
Not just in Kuwait, countries like the United Arab Emirates prohibit expatriates from acquiring real estate properties, prompting them to pay high rents just to have proper accommodation.
Source : Arabtimes