- Video Field: https://www.youtube.com/watch?v=iKPw6-cTpIA
Law provisions concerning Social Security are imperative and do not allow to either the employers or the insured salaried persons to remain outside the scope of these provisions being considered of Public Policy.
Social Security Contributions are calculated as a percentage of monthly salaries, including all benefit up to a maximum wage of five times the official minimum wage. All companies are officially required to register with the NSSF within one month from the start of operations. New employees should be registered within 15 days of their employment.
- Video Field: https://www.youtube.com/watch?v=iKPw6-cTpIA
There are many advantages of investing in Lebanon that can be summarized as follows:
1- Free Market Economy: Lebanon offers the most liberal investment climate in the Middle East and is ranked as one of the freest economy regionally and internationally, with the Government maintaining a non‐interventionist stance toward private investments.
- Video Field: https://www.youtube.com/watch?v=iKPw6-cTpIA
Lebanon is situated in a strategic geographical location: at the heart of the Middle East and the crossroads of three continents: Africa, Europe and Asia; Lebanon has long been the convergence point of trade routes and the meeting place for a wide variety of people, the basis of today’s uniquely diverse and rich national culture Lebanon offers the most liberal investment climate in the Middle East backed by a free market economy, a long tradition of free trade regime,a sophisticated banking system, a developed legal framework, a superbly skilled workforce, and an exceptional lifestyle. Lebanon offers a large number of investment opportunities in all sectors of the Lebanese national economy and more specifically in the Tourism and Agro-food industries, Light & Medium industries, Agriculture, Health, Telecommunications, Energy, Environment, Transportation, and Information Technology sectors.
- Video Field: https://www.youtube.com/watch?v=iKPw6-cTpIA
In 2001, the Parliament endorsed amendments on the legislation regarding the foreign acquisition of Property in Lebanon to provide incentives foreign investment through reactivating the real estate sector. The law stipulates the following:
- The new Law allows the foreigners to acquire 3% of the total area of Lebanon regardless the geographic location subject to one condition: foreigners can acquire no more than 3% of the total area of a caza. One exception to this law is Beirut, where foreigners are allowed to acquire up to 10% of the total area of the capital.
a. Qualifications:
i. The Merchant should have eighteen years and above to become a merchant and carry out commercial activities.
ii. The Merchant should carry out Commercial Activities.
The Business Concern is a legal Entity, not having a legal personality, comprising corporeal and incorporeal elements forming the core of the Business and which may be subject to diverse transactions.
Corporeal elements consist of goods, equipments, tools machines and furniture.
Incorporeal elements include trademarks, trade names, patents, copyrights, good will and customers.
These two elements may constitute the object of several transactions as a whole entity or separately such as sale, mortgage, garnishment, contribution in a partnership or a corporation, and independent free management. These transactions should be register at the Commercial Register.
a. Definition and Main Characteristics:
The Commercial law in Lebanon provides that the Joint Partnership is one which operates under a specific name and is composed of two or more persons responsible jointly and severally liable for the company’s debts and obligations.
a. Definition:
A Limited Partnership carrying out its business under a trade name, It is similar to the Joint Partnership but comprises two groups of Partners:
- The Active Partners who have the exclusive right to conduct business and are jointly and severally liable for the partnership’s debts.
a. Definition and main characteristics:
A Limited Liability Company (s.a.r.l) combines traits from both a partnership and a corporation. It is governed by Decree No. 35 dated 05/07/1967. The main Characteristics of such Entity:
1- Limited liability: The Partners are liable only to the extent of their shares in the capital.
2- Legal Status: The Partners are not considered Merchants. Thus no special capacity is required.
a. Definition and Characteristics:
The Commercial law defines the Joint Stock Company as being a company composes by a number of persons subscribing in shares, who are liable for the debts of the Company only to the extent of their shares in the capital.
1- Limited liability: The Shareholders are liable only to the extent of their shares in the capital.
2- Legal Status: The Shareholders are not considered Merchants. Thus no special capacity is required.
