Financial statements from Kuwait

Schmidt & Schmidt offers financial statements from Kuwait in electronic form and their translations into English.

According to law, companies registered in Kuwait must submit annual financial statements.

Reporting of financial statements in the Kuwait is subject to the Companies Act from 2016 and other regulations.

In Kuwait, the IFRS are used only by large public companies. Their use is not extended to small and medium-sized companies.

Companies are obliged to file financial statements to the Ministry of Commerce and Industry within three months after the end of the financial year. In addition, companies selling their shares publish annual financial statements through the stock exchange.

Annual financial statement includes:

• Balance sheet
• Profit and loss report
• Notes

In Kuwait, financial statements are freely available only on companies participating in stock exchange is freely available. They can be obtained with a special online service of the website of the stock exchange.

To obtain financial statements of a specific company, its full name in English or Arabic language and registration number are required.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

Financial statements are provided in accordance with the legislation of Kuwait and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.