SALMIYA - The authorities in Kuwait have now revised visa rules for expats aged over 60 years to transfer their residency to the private sector.
The employment regulator of the country, Public Manpower Authority (PAM) has decided to revise visa rules for expats aged over 60 years old. There are some conditions for the process including payment of an additional annual fee of KD (Kuwaiti Dinar) 250.
The change effectively means that that foreign residents over 60 years of age will be allowed to live in Kuwait by working in the private sector and will facilitate those who had been part of the government, state-owned departments, dependents of a resident, or investors or partners in commercial or industrial sectors.
Besides, those with self-sponsored residency can also avail the opportunity as part of fresh changes. The authority has clarified that the workers must be insured with an irrevocable comprehensive health insurance policy issued by one of the companies qualified and approved to issue the insurance policy by the Insurance Regulatory Unit. Earlier, there was a blanket ban on residency renewal in Kuwait but the authorities have now liberalized their approach.
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Like all other countries, Kuwait is also in the process to attract more foreign talent and as part of this, it is mulling long-term residency visas for foreign residents and investors for up to 15 years.
The country welcomes hundreds of workers every year from across the globe including Pakistan who travel to the country due to multiple reasons including the currency conversion rate. As of March this year, One Kuwaiti Dinar equals Rs 909 Pakistani rupees.
Kuwait is a country of the Arabian Peninsula located in the northwestern corner of the Persian Gulf with a total area of 17,820 km² and a total coastline of 499 km. The country boasts a population slightly over 4.2 million.
Pakistani currency remains unchanged against US Dollar and other currencies on April 22, 2024 Monday in open market.
US dollar was being quoted at 277.4 for buying and 280.4 for selling.
Euro comes down to 293.2 for buying and 296.2 for selling while British Pound hovers at 339.5 for buying, and 343 for selling.
UAE Dirham AED was at 75 and Saudi Riyal's new rate was at 73.25.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.4 | 280.4 |
Euro | EUR | 293.2 | 296.2 |
UK Pound Sterling | GBP | 339.5 | 343 |
U.A.E Dirham | AED | 75 | 75.8 |
Saudi Riyal | SAR | 73.25 | 73.95 |
Australian Dollar | AUD | 181 | 182.8 |
Bahrain Dinar | BHD | 740.55 | 748.55 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.47 | 38.87 |
Danish Krone | DKK | 39.78 | 40.18 |
Hong Kong Dollar | HKD | 35.53 | 35.88 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 903.11 | 912.11 |
Malaysian Ringgit | MYR | 58.08 | 58.68 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.61 | 25.91 |
Omani Riyal | OMR | 723.2 | 731.2 |
Qatari Riyal | QAR | 76.45 | 77.15 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.31 | 25.61 |
Swiss Franc | CHF | 305.47 | 307.97 |
Thai Bhat | THB | 7.56 | 7.71 |
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