Aldbaeis Group Law Firm has a high degree of experience in dealing with the Central Bank on all issues related to regulation and licensing, which is important for commercial and investment banks and other financial institutions that practice their commercial activities in Kuwait, in addition to our knowledge of the Kuwaiti banking law issued based on Decree no. 32 for the year 1968 under the title of currencies, the Central Bank of Kuwait and the regulation of the banking profession (later the Banking Law) or its amendments, our firm provides appropriate advice on banking regulation projects in Kuwait as well as practical advice based on our long-term relationship with the Central Bank and other relevant government institutions.

In 2004 the Banking Law was amended to allow the opportunity to open branches of foreign banks in the Kuwaiti market. We have provided advice to a number of foreign banks on these developments and their implications in general.

In addition to representing financial institutions on the legal side, we deal with their financial transactions with clients in Kuwait and abroad, and this constitutes close follow-up to borrowers, preparing comprehensive agreements for loan documents and ensuring that appropriate guarantees are provided to the courts and accordingly, the group is considered a legal leader in terms of financing inside Kuwait.

Our lawyers have the sufficient and necessary experience to advise clients on the appropriate way to establish small enterprises, companies, branches and representative clerk for foreign companies in Kuwait, as well as provide advice on the most appropriate organizational structures for the client and the project in question, as well as arrangements related to small projects in accordance with the Kuwaiti Commercial Companies Law.

The Group’s lawyers are known for a long and good track record of assisting foreign shareholders in this field and protecting their interests based on the law and local business practices.

Among the most prominent achievements made by Aldbaeis Group Law Firm, and the first precedent in the history of the Kuwaiti judiciary is the cases of tankers, and the firm has succeeded in protecting the rights of clients in all areas of criminal litigation. We do not deny the firm’s role in most of the politically charged cases in the history of Kuwait. Therefore, our lawyers have a great reputation for their enthusiasm to defend the rights and interests of the parties in criminal cases within the limits permitted by law. We have an in-depth understanding of the due process in Kuwait and the procedures followed before Kuwaiti courts.

According to Kuwaiti law, all government contracts are subject to Decree No. 37 of 1964 and its subsequent amendments (later “the Public Tenders Law”). Execution of relevant contracts. Our organization has accumulated abundant experience in relation to government contracts and sales related to defending systems of Kuwait. Our specialists have dealt with all aspects related to contracting procedures. The expertise we have obtained has enabled us to establish permanent relationships with many experienced clients, whether on both levels, local and international companies, including leading companies and institutions operating without limitation in the field of mobile communications, high technology, logistical operations, commercial aviation engineering, and infrastructure restructuring programs.

The experience of our lawyers allows the opportunity to provide advice to clients on all stages of government contracting, including, for example, not limiting to, consultation on procedures and requirements for bidding, defense or objection to awarding, pricing issues, (TINA) requirements, protecting and adhering to intellectual property rights, controlling imports and exports, and licensing requirements. Our lawyers work closely with the competent authorities to ensure that all procedures and requirements related to all stages of concluding government contracts that have been dealt effectively and on time in order to ensure that the client receives the best advice.

Nowadays, in terms of advanced technology, the protection of ideas has become very important. Our intellectual property experts provide clients with services on a large scale with the aim of strengthening the management and protection of their intellectual property, as well as trademarks, copyrights, patent and intellectual property registration services. Advice on licensing arrangements and enforcement procedures. We have successfully helped a large number of clients to reduce infringement of their intellectual property rights.

Our lawyers have represented clients in relation to intellectual property rights of a wide range of industries including telecommunications, media, technology, food and beverages, franchising rights, entertainment and clothing just to name a few. Our strong relationship with government officials and regulatory agencies in Kuwait helps us anticipate changes in regulations and provide advice to clients. Accordingly, a law firm cannot guarantee greater intellectual property protection in Kuwait than the firm provides.

Islamic banking is based on Islamic principles that prohibit the imposition of interest (Usury) on loans and stipulate that the returns on money employed by borrowers be based on profits derived from the commercial risks borne by the lender. Therefore, the financial institution is based on the financial success of the client instead of receiving the calculated flow of funds according to market rates and according to Islamic law, financing related to investments and projects can be provided only in a manner that does not contradict Islamic principles. Therefore, Islamic finance is not included for projects related to alcohol, gambling houses, pork and its products.

The group has dealt with many Islamic finance projects of different nature in addition to providing advice to clients about Islamic finance in general and murabaha is considered one of the common methods used for Islamic commercial finance arrangements and according to this method the financial institution purchases the commodity in question from the resources and then resells it to the same customer for a price. Its price exceeds its original price. The other method used in this field is Mudarabah, which is based on the principle that whoever has more has the necessary skill to employ it productively. Accordingly, “Mudarabah” is considered one of the foundations adopted by some Islamic financing funds. Based on its professional investment skills, it is invested in appropriate projects. A percentage of the profits are transferred to investing clients on time, while the bank imposes fees for managing investment funds.

With the increasing complexity of Islamic financial transactions and transactions in various fields, including sukuk (Islamic bonds) and guarantor (Islamic insurance), our lawyers followed these developments and became one of the best experts in this field. Our clients look forward to our abundant knowledge, full knowledge of Islamic law, and practical capabilities to solve pending cases and complete deals according to their interests.

The team of the Labor and Recruitment Department is well-versed in all aspects of labor regulations in Kuwait. Aldbaeis Group Law Firm provides a full range of advisory services in labor cases. We have the ability to provide correct and reliable legal advice to both workers and employers alike. We have experience in the field of trade union and non-union groups. We can help in collective negotiations for companies or employers, whether individuals or companies, and workers in the public and private sectors, although we always strive to avoid resorting to litigation. However, when litigation becomes unavoidable, the Litigation and Dispute Resolution Department, which consists of a group of lawyers, has extensive experience in analyzing the strengths and weaknesses of both parties to the dispute and devising the best and optimal solutions for settlement.

In addition, we provide advice and assistance in complying with the laws and conditions of residency in Kuwait. We have a strong working relationship with the Kuwaiti Ministry of Social Affairs and Labor that helps us save time and provide services with high efficiency, which helps in implementing customer issues as quickly and easily as possible. In addition, we have represented many clients set up stock option programs and retirement plans.

The Kuwaiti system is based mainly on French civil law, which differs from English law. Islamic Sharia is also considered another legal source in Kuwait, especially with regard to family and property affairs. According to Decree Law 23 of 1990 regarding the organization of the judiciary, the Kuwaiti judicial law is based on several systems, namely: The Court of First Instance that consists from the District Court, which hears small claims, the College Court, the Court of Appeal, and the Court of Cassation, and the judicial procedures are subject to Decree-Law No. 38 of 1980 called the “Civil and Commercial Procedure Law.”

Based on our solid knowledge and abundant experience about local courts, the firm deals with major commercial cases in Kuwait on behalf of foreign and local clients and with the availability of bilateral language skills and experts in local and international laws and the combination of lawyers graduated from different legal colleges where an empowered team with high professional competence was formed so that they protect the interests of clients when litigation procedures are conducted in Kuwait.

The firm has a strong reputation for being able to conduct arbitration procedures inside and outside Kuwait, and the group’s record is full of successful arbitration rulings in accordance with local Kuwaiti and international arbitration rules, such as the arbitration systems approved by the International Chamber of Commerce I.C.C and by UNICTRAL.

The group has ample international experience in many key areas that include energy, infrastructure and finance in the State of Kuwait. Legal work in this field has included the following:

• Reviewing tender documents, including issuing instructions to applicants, drafting the tender contracts to be submitted, and discussing tender documents with government representatives and other consultants as required.
• Entering into bidding procedures, including preparing inquiries and notes.
• Preparing and submitting actual bids, and upon achieving success, perform the tasks of reviewing and negotiating contract awards.
• Drafting and negotiating joint agreements between the parties involved.
• Drafting and negotiating documents pertaining to other projects, including guarantee agreements and agreements concluded by group members among themselves, and agreements concluded with suppliers, engineers, and contractors for procurement and construction.
• Our lawyers acted as representatives of investors in the field of privatization, including operating agreements, concession agreements and other agreements related to private sector participation to liquidate government institutions’ investments in public sector assets, either by offering them as ownership shares or negotiating their sale.

Aldbaeis Group Law Firm clients rely on our experience in providing advice on issues of financial restructuring and insolvency on some of the most complex transactions. We provide a full service in dealing with all forms of debt restructuring and insolvency, including the purchase and sale of financial assets upon bankruptcy, mergers and acquisitions of troubled companies, and claims, bankruptcy cases and contracts to stop the proceedings.

We also have the experience and knowledge in dealing with financing operations, exit arrangements, and cash collateral. We have represented many clients in the midterm procedures. Our clients consist of debtors, secured and unsecured creditors, parties who buy distressed assets, bonds, financial advisors, creditors’ committees, etc. We also have the resources and experience to formulate comprehensive solutions across Limits and protocols governing administrative procedures Our lawyers actively participate in meeting the needs of any critical circumstances that arise and finding a cost-effective solution.

The stock exchange system in the State of Kuwait is based on Law No. 31 of 1990 regarding the regulation of stock exchange and the establishment of investment funds and Ministerial Resolution No. 113 of 1992 regarding the implementation of the regulations related to Decree-Law No. 31 of 1990 and its amendments represented in the decisions and orders issued later. The stock exchange laws regulate the process of public offering, and concerning foreign securities, which include stocks, bonds and units of investment funds.

Our lawyers regularly provide advice to local banks and investment institutions on issuing Kuwaiti securities and to many foreign institutions wishing to market their securities on the Kuwait Stock Exchange.

In addition to providing advice, Aldbaeis Group Law Firm undertakes licensing procedures through the Ministry of Commerce and Industry and government agencies whose approval is required to market the various securities offered by clients.

Kuwaiti tax regulations can be viewed by referring to Decree No. 3 of 1955, the Kuwaiti Income Tax Law, and for many orders, decisions and circulars issued by the Ministry of Finance (hereinafter “Tax Laws”). In general, foreign companies operating in Kuwait are subject to an income tax system in accordance with the tax laws, but it is worthwhile to note that the Kuwaiti tax is imposed only on legal entities that practice their commercial activities in Kuwait compared to the parties that carry out their commercial activities with Kuwait. This particular point has been discussed during many meetings held by the Income Tax Department of the Ministry of Finance, whose interest has increased significantly during the past few years on imposing tax on foreign entities.

The Group has remarkably succeeded in structuring foreign investments and its activities in Kuwait with the aim of reducing the exposure as much as possible of the foreign party to the risks arising from the applicable tax laws and when it is necessary for a foreign company to appear in a session held by the competent litigation committee or Kuwaiti courts regarding any tax assessment issued by the Income Tax Department. Our firm, based on its proven track record of experience, will refund the income tax department claims or settle them according to the interests of the clients.