The Ministry of Interior reported that First Deputy Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al-Sabah presented the first 15-year Golden Residency to LuLu Group International Chairman Yusuff Ali M.A. in a ceremony held in Kuwait City. Acting Assistant Undersecretary for Support Security Services Brig. Gen. Fawaz Al-Roumi attended the event. Sheikh Fahad Yousef Saud Al-Sabah described the initiative as a strategic step toward modernizing the residency system, attracting high-quality investments and reinforcing Kuwait’s role as a regional economic hub in line with national development goals.
According to a KUNA statement from the ministry, the Golden Residency scheme was developed jointly with the Kuwait Direct Investment Promotion Authority and the Public Authority for Civil Information. The framework follows international best practices while preserving all legal and regulatory requirements. Sheikh Fahad Yousef Saud Al-Sabah stated that the program enhances confidence in Kuwait’s administrative framework and contributes to sustainable economic development. The minister reaffirmed ongoing efforts to refine services for investors to project a modern image of the country.
Kuwait Direct Investment Promotion Authority guidelines place the minimum investment threshold at 5 million Kuwaiti dinars for eligible entities, with capital requirements of no less than 1 million dinars in approved activities. The authority’s assessment found that applicants must maintain active operations and hold a valid KDIPA license to qualify for the up to 15-year residency. Immediate family members, including parents, spouses and children, may also receive the permit under the same conditions when recommended by the investment body.
Yusuff Ali M.A. built LuLu Group into a leading retail chain with multiple hypermarkets operating in Kuwait for decades. A Gulf News report from 2022 indicated that he had similarly received the inaugural golden residency in Bahrain for his contributions to that economy. The chairman’s latest recognition highlights the value placed on long-term foreign investors in Kuwait’s retail and commercial sectors.
The Ministry of Interior noted that the new residency underscores the state’s dedication to fostering investment partnerships and enabling business in a secure setting. Sheikh Fahad Yousef Saud Al-Sabah added that coordination among relevant authorities ensures the program’s integrity and effectiveness. This first award on July 14 comes shortly after the program’s formal approval in June.
The program targets owners of investment entities, business partners and senior executives in addition to their families. Officials have stressed that the residency may not be renewed if the qualifying investment criteria cease to be met. The initiative forms part of broader reforms to the residency law under provisions from 2024.
