Lebanon is in the East Mediterranean. It borders Israel to the south and Syria to the north. Lebanon is a unique unitary confessionalist parliamentary republic with a political system that is a power sharing mechanism based on religious communities. The capital is Beirut and the official language is Arabic, with French and English widely spoken. The currency is the Lebanese pound (LBP), although the US$ is widely used. Prior to the Civil War it was known as the “Switzerland of the East” because of its financial power and diversity. The Investment Development Authority of Lebanon has been established to promote inward investment. It has strict financial secrecy and with a liberal open capitalist economy it has a strong economic status among Arab countries. Lebanese banks are reputed for their security and for being high on liquidity. Lebanese offshore companies are attractive for international trading, they must be incorporated in the Lebanese Free Zone and are not subject to any Lebanese tax.
- TYPE OF COMPANY: Offshore Company (Joint Stock Company)
- COMPANY LAW: Lebanese Commercial Code – Decree Law 46 of 24th June 1983/ Law 19 of 5th September 2008 (as amended)
- SUFFIX TO DENOTE LIMITED LIABILITY: Limited (Ltd); Corporation (Corp); Incorporated (Inc); Societe Anonyme (SA); or any internationally recognised suffix
- DIRECTORS: Minimum one natural person who may be of any residency or nationality, also known as the “President” and must be a shareholder, additional directors can be corporate entities – we can provide
- SECRETARY: Yes – either a natural person or corporate body of any residency or nationality
- SHAREHOLDERS: Minimum three (two must be Lebanese) – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum share capital of US$20,000 – fully paid up
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: 3 – 5 days
- REGISTERED OFFICE: Required in Lebanon – we can provide
- ANNUAL RETURN: No
- ACCOUNTS: Yes – audited by Lebanese auditor – we can provide
- DISCLOSURE: Yes
- TAXATION: Exempt
- GOVERNMENT LICENCE FEE: US$660 (one million Lebanese pounds)
- DOUBLE TAXATION TREATIES: 32
- LANGUAGE OF DOCUMENTATION: Arabic with an English certified translation
If you would like further information on setting up a company in Lebanon or the formation of a Lebanese company or other Lebanese corporate entities or require professional advice relating to taxation or the structuring and requirements of a Lebanese company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Lebanon.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.