Kuwaiti Ministry of Commerce and Industry Refers 11 Real Estate Companies to the Public Prosecutor re Foreign Real Estate Sales

Another AlQabas report.

At the end of last week the Kuwaiti MOIC referred the names of 11 companies to the Public Prosecutor for failure to comply with regulations concerning the sale of real estate outside the country. 

Local regulations require that the MOIC approve any such sale and that each sale be documented by (a) an official power of attorney from the company (owner) for the sale, a deed certified  by an official organization confirming the ownership (this is presumably by an official agency in the country where the real estate is located), and as well certified by the Kuwaiti Embassy in the country where the real estate is located.

Apparently, one can't be too careful.  And who would better know local business practice than the local MOIC.