The limited liability company (LLC) in Lebanon, locally known as a SARL, is generally utilized for setting up a small business in the country. The minimum paid-up capital for such a company here is USD 3,400 and it should have at least three shareholders. As follows, our company formation consultants in Lebanon explain different details related to opening a limited liability company in this country.
Choosing a name for the LLC in Lebanon
The name of an LLC in Lebanon is made either by designating its activities or by embracing a common style which includes the name of one or several partners.
All the deeds, publications, advertisements or all instruments issued by an LLC in Lebanon have to indicate in clear terms, near the name of the business, the words “Limited Liability Company”, followed by the indication of its registered capital.
Not complying with these regulations is sanctioned by a fine. Our Lebanon company formation consultants can offer more details on what these fines can be. We can also help you to open a company in Lebanon.
Further details on the LLC in Lebanon
An LLC in Lebanon does not have to go through the yearly audit in the following cases:
• If its share capital is smaller than USD 20,000;
• Its yearly turnover is smaller than USD 500,000.
The company has to, though, name an attorney and pay him at least the minimum retainer fee per year which is set by the Beirut Bar Association.
LLCs in Lebanon are subject to the following taxations in the country:
• A 15% tax on the corporate income;
• A 5% taxation on the income derived from the development or sale of a property.
In Lebanon, a 10% withholding tax is levied on all the income derived from movable capital assets generated on the local market.
This tax mainly covers:
• The distributed dividends, interest and income on shares;
• The directors’ fees and the amount payable to them from income;
• Other profits: our company registration agents in Lebanon can offer further information on what these other profits consist of.
For more details about the limited liability companies in Lebanon, or for help in setting up offshore companies in Lebanon, please contact us.