Joint Stock Company

JOINT STOCK COMPANY

A Lebanese Joint Stock Company known as JSC has to be constituted by a minimum of 3 shareholders.

The Liability of the shareholders is limited to their shares in the company.
The minimum capital for the JSC is LBP 30,000,000 (approximately USD 20,000), which can be in cash and/or in-kind contributions.

The company may call for public subscription and is allowed to issue financial instruments and bonds. and may issue financial negotiable instruments or bonds.

The Company management is entrusted to the board of directors which elects amongst its members a president. Board directors are elected by the general assembly of shareholders.
The number of board members is fixed between a minimum of 3 and a maximum of 12 and the majority of board members should be of Lebanese nationality.

There are no restrictions on foreign participation in joint stock companies except for specific sectors and activities (mainly the public sector, commercial representation, real estate under certain conditions, etc…

An auditor must be appointed by the company and the company’s name should be always followed by the abbreviation S.A.L.
A lawyer has to be appointed with yearly fees as per Lebanese laws. JSCs are taxed 17% tax on corporate profit.