Lebanon is rapidly becoming a jurisdiction interesting for international business, with great potential for tax planning and a stable banking system ensuring the confidentiality of customer data. In a French-speaking, fairly secular Arab country, there is a law on offshore enterprises and holdings, according to which non-resident companies can undertake a ten percent income tax rate and do not pay VAT and a share of dividends to the budget.
Foreign business is entitled to work outside Lebanon or in one of its special zones where conditions are created to attract foreign investment - there is no tax burden, export-import duties, stamp duty (only annual duty, in a fixed amount of about 670 US dollars) Only non-resident of the jurisdiction can own such a company. Offshore company in Lebanon:
It is convenient to establish companies in Lebanon either in the form of holdings. They are exempt from dividends and profits taxation. In general, joint-stock companies (including offshore and holding companies), closed enterprises and limited liability partnerships, foreign representative offices and branches are allowed in the country. All of them submit documents to the Trade Register during the registration, and the offshore business does it also to a special register. A foreign company in Lebanon may be engaged in licensed activities, having received permission from the financial regulator.
The founders provide a documentation package in English or Arabic and draw up a power of attorney for a Lebanese lawyer who will handle their cases. The founders and shareholders make copies of travel passports, stitch them with a translation made by a sworn translator, and notarize it in a notary's office. The documents registration include:
If the documents are not in English or Arabic, they are translated, certified in the country of issue and the Lebanese consulate. Before opening a business, an account at a bank is opened up, providing business partners recommendations upon a request and a deposit is placed to down there. A capital of about 20 thousand American dollars is enough for it. The bank issues a certificate, which is enclosed to the documents.
A registration of a company in Lebanon includes namely:
"Prifinance" experts will help you to pass the registration steps without time and effort loss. We undertake organizational issues, representation in Lebanon and provide all consultations.