The Lebanon subsidiary setup process is the key to your success in the country. Once you have a registered entity, you’re ready to start working, hire employees, set up your payroll, and provide necessary compensation and benefits. Without a subsidiary, you cannot work in Lebanon, and you won’t benefit from new business relationships.
Globalization Partners offers an easier way to expand through Lebanon subsidiary outsourcing. We have subsidiaries in countries around the globe that you can use to expand faster and without any worries about hiring, compensation, benefits, or other aspects of your business. When you choose us as your partner, you’ll have the time to focus on building your business while we take care of the rest.
How to Set Up a Lebanon Subsidiary
If you don’t already know how to set up a Lebanon subsidiary, you need to take the time to learn the applicable laws or work with a consultant. Your subsidiary’s setup process hinges on location and your planned business activities. Just like different states in the US can have their own laws and regulations, different cities or regions in Lebanon can have varying Lebanon subsidiary laws. Always research the laws in a potential area or work with an expert who can help you find the best place to incorporate.
After finding a physical office space in an area friendly to foreign incorporation, you need to set up your Lebanon subsidiary as one of several different entities. In Lebanon, you can incorporate as a limited liability company (LLC), public limited company, offshore company, holding company, branch office, or representative office. The entity you choose depends on what type of activities and products you want to offer. Companies looking to work in Lebanon and perform a wide range of activities often use the LLC structure since it provides the most freedom.
The Lebanon subsidiary setup process includes the following steps:
- Signing articles of association in front of a public notary
- Obtaining a stamp and paying registration fees
- Depositing your minimum paid-up share capital at a local bank, which will give you a certificate
- Naming your board of directors and having them appoint a chairman
- Issuing a commercial circular with all authorized signatories
- Filling in the certificate of incorporation
- Filing the registration demand with the Commerce Registry and bringing all necessary documents
- Liberating the capital from the bank after the company is registered
Lebanon Subsidiary Laws
You’ll have to follow a specific set of Lebanon subsidiary laws depending on which entity you use for the incorporation process. As an LLC, you’ll need $3,400 in paid-up share capital as well as three shareholders to complete the business setup process. Your company must have one director, either a foreigner or Lebanon resident, who will run the company.
All LLCs will need a company attorney, who must make at least the minimum yearly retainer fee outlined by the Beirut Bar Association. Your company only has to go through an annual audit if you meet certain requirements, including:
- Share capital over $20,000
- Annual turnover of over $500,000
Benefits of Setting Up a Lebanon Subsidiary
Once you complete the incorporation process, you can start working in Lebanon and quickly benefit from new relationships, product offerings, employees, and more. If you incorporate as an LLC, your parent company will also be protected from any litigation or fines the subsidiary incurs, as the two will operate separately.
While these benefits are great ones, your company will not start to receive them until you spend weeks or months trying to incorporate. Globalization Partners can help you achieve the same benefits — and more — faster. Lebanon subsidiary outsourcing with our global PEO means you can use our subsidiary to house your company. This infrastructure will allow you to start working fast without having to worry about Lebanon subsidiary laws.
Other Important Considerations
Your company should put together what it needs to succeed before starting the Lebanon subsidiary setup process. This step includes setting aside time in your schedule to handle incorporation tasks, creating a budget for all the necessary fees, and finding a lawyer, consultant, or accountant who will help you stay compliant.
Let Globalization Partners Help With Your Expansion
Globalization Partners makes it easier for companies to expand to places like Lebanon and beyond. Contact us today to learn more about Lebanon subsidiary outsourcing.