CMA outlines rules for investment dealings with 'former Kuwaiti citizens'
The circular, addressed to all licensed entities and authorized persons, follows the Ministry of Interior's statement issued on July 10, which detailed the legal status, residency rules, and restricted rights applicable to those affected by this category of citizenship revocation.
According to the CMA, the objective of the circular is to ensure full compliance with the legal and regulatory frameworks that govern the treatment of such individuals, particularly within the investment and financial sectors. The Authority emphasized the importance of adjusting internal policies accordingly to avoid violations.
Key regulatory measures
The circular highlighted main controls that authorized entities must follow:
Revoked Individuals Not Considered Kuwaitis: Anyone whose citizenship has been withdrawn under the 'Noble work' clause will no longer be considered a Kuwaiti citizen to implement CMA laws and regulations. Such individuals will also lose eligibility for rights and benefits granted to Kuwaiti citizens once the grace period granted by the Ministry of Interior expires.
Verification of Legal Status: All authorized persons must verify the legal status and valid residency of clients affected by the Amiri Decree. This includes examining official documents confirming their status post-citizenship revocation.
For decrees issued before July 20, 2025, the four-month grace period begins from that date.
For future cases, the grace period will begin from the date of issuance of each new revocation decree.
Review and Update of Client Records:: In the case of existing investment transactions or business relationships with affected individuals, their legal status must be reviewed and updated to ensure alignment with current legal and regulatory frameworks during the status adjustment period.
Additionally, the CMA advised that if any licensed person seeks official clarification on a client's status, they should contact the Article Eight Affairs Office at the Ministry of Interior, which is the competent authority responsible for determining applicable benefits and procedures in these cases.
The Authority stressed the necessity for full adherence to applicable legislation and related decrees concerning citizenship revocation. It urged licensed firms and individuals to revise their internal compliance policies to avoid unauthorized dealings or regulatory breaches.
This move reflects Kuwait's broader efforts to ensure legal clarity and institutional alignment in handling sensitive nationality-related cases within the country's financial and investment sectors.
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