Introduction to Kuwait

The State of Kuwait is a sovereign Arab emirate on the coast of the Persian Gulf, enclosed by Saudi Arabia to the south and Iraq to the north and west. The name is a diminutive of an Arabic word meaning "fortress built near water."It has an area of 17,818 km². Kuwait is a constitutional monarchy with a parliamentary system of government and Kuwait City serves as its political and economic capital.

Kuwait has the world's fifth largest proven oil reserves. Kuwait's oil fields were discovered and exploited in the 1930s and after it gained independence from the United Kingdom in 1961, the nation's oil industry saw unprecedented growth. Petroleum and petroleum products now account for nearly 95% of export revenues, and 80% of government income.

In 1990, Kuwait was invaded and annexed by neighboring Iraq. The seven month-long Iraqi occupation came to an end after a direct military intervention by United States-led forces. Nearly 750 Kuwaiti oil wells were set ablaze by the retreating Iraqi army resulting in a major environmental and economic catastrophe. Kuwait's infrastructure was badly damaged during the war and had to be rebuilt.

There is no personal income tax and there are no property or municipal taxes in Kuwait. Water, electricity, petrol, and basic foods such as fish, milk, meat, rice, bread, are extremely cheap because of Government imposed price controls. Local telephone calls are free. medical care charges nominal fees of KD.1 in local area clinics and KD.2 on hospitals (in which consultation & medicine is included), there is some extra charges to certain services like special X-rays, sonar etc. and some medicines you have to buy from outside(rarely).

Although Kuwait imports most of its requirements, it does however produce its own poultry, Dairy products, Fish, fruits and vegetables but insufficient to cover up the local market demand. Each residential area of Kuwait has its own complex cooperative society. Now a days you can see a lot of modern shopping centers with a wide variety of luxury goods & Franchised stores.