Features Of Lebanon International Business Companies
International Business Compagnies (IBCs)
IBC’s may engage in any lawful business in any country and may carry on transactions
In whatever Currencies they choose, with exception to businesses related to:
Banking, Insurances and Financial Institutions.
TAXATION
The exemption from taxation for any business activity or transaction carried outside the Lebanon is limited to a flat tax of appx 666.00 USD. (LBP 1’000’000.00)
AUTHORIZED CAPITAL / SHARES / DURATION
Bearer Shares is allowed in Lebanon, The register of shares has to be kept updated.
IBC standard share capital is USD 20’000.00.
Company duration is of 99 years.
DIRECTORS, OFFICERS AND SHAREHOLDERS
Shareholders, Directors and / or officers can be either corporate entities or natural person.
Initial or ongoing changes in Directors and/ or officers need to be filed with Lebanon Registry.
The Directors may grant special or General Power Of Attorney.
Companies are allowed to have a sole Director, and it can be the share holder.
Neither the Directors nor the officers need to be shareholders.
Shareholders, Directors and officers may be of any nationality and may be residents
Of any country. Directors can operate without a work permit.
Shareholders and Directors may hold their meetings in any country, and may attend such meetings by proxy or by electronic means (phone – fax – etc).
ANNUAL FILLING – RECORD KEEPING
Requirement to file annual returns or financial statements, requirement to hold annual meetings of Shareholders or Directors, appointment of an auditor is mandatory.
INCORPORATION AND ADMINISTRATION
Excellent availability of company names for Incorporation.
Familiarity of incorporation documents (Memorandum & Articles of Association
Certificate of Incorporation)
The words SAL – SARL, may be used as company’s name ending.
Incorporation documents may be drafted in Arabic and submitted together with an English translation.
Speedy incorporation procedures and simple ongoing administration.
An incorporation procedure takes 3 to 7 days.
REGISTERED OFFICE
Registered office in the Lebanon required.
CONTINUATION
Foreign companies can be speedily continued to the Lebanon.
USES OF LEBANON INTERNATIONAL BUSINESS COMPANIES (IBC’S)
Holder of a Bank accounts, in Lebanon and abroad, fixed deposits, investments plans and any other financial titles.
Owner of the shares of other companies or legal entities.
Owner of Apartments, Houses, Buildings, Vessels, and any other movable or immovable properties or goods.
Managing and promoting of international business transactions.
International leasing of vehicles and machinery.
Borrowing or lending money, paying or receiving commission and fees, royalties or other.
Marketing and promotion of products and services.
ADVANTAGES OF LEBANON OFFSHORE COMPANIES.
No stamps duties related to contract
No tax on profit
No inheritance tax
No tax on payment for foreign resident
No capital gain on income
Bank Secrecy
HIGHLIGHTS OF LEBANON
Excellent corporation law
Flexible company law
No exchange control regulations
Political and Economic stability
Excellent Hotel accommodations
Excellent worldwide communications facilities
Skilled personnel
The Following Info/Documents are required to be kept at Cardwell Capital registered office.
Appropriate character references and other due diligence documents, as required.
Complete and updated share register shall be kept at the registered office of the company,
Complete and updated register of Directors and Officers shall be kept at the registered office
And copy of this document to be filed at the registrar of companies of the Lebanon.
DOUBLE TAXATION TREATIES (32)
Lebanon has signed the double taxation treaties with a certain number of countries such as:
Algeria – Armenia – Bahrain – Belarus – Bulgaria – Cuba – Cyprus – Czech republic – Egypt
France – Gabon – Iran – Italy – Jordan – Kuwait – Malaysia – Malta – Maroc – Pakistan – Poland – Qatar – Romania – Russia – Senegal – Sudan – Sultanate Of Oman – Syria – Tunisia
Turkey – U.A.E – Ukraine – Yemen.
