At a glance
Shareholders and capital
A Lebanese Joint Stock Company, known as a JSC, must be constituted by a minimum of three shareholders and can be fully owned by foreigners. The liability of the shareholders is limited to their shares in the company.
The minimum capital for a JSC is LBP 30,000,000, which can be contributed in cash and/or in kind. The company may call for public subscription and may issue negotiable financial instruments or bonds.
Board of directors
Management is entrusted to the board of directors, which elects a president from among its members. Board directors are elected by the general assembly of shareholders. The board has a minimum of 3 and a maximum of 12 members, and the majority of board members should be of Lebanese nationality.
Foreign participation
There are no restrictions on foreign participation in joint stock companies, except for specific sectors and activities — mainly the public sector, commercial representation, and real estate under certain conditions.
Taxation and requirements
The company must appoint an auditor, and its name should always be followed by the abbreviation S.A.L. A lawyer has to be appointed with yearly fees, as per Lebanese law. JSCs are subject to a 17% tax on corporate profit.
A lawyer has to be appointed with yearly fees, as per Lebanese law. See LCC’s legal services.