Extension of flat fee

November 11, 2018

The Ministry of Finance has extended the deadline for the settlement of the annual flat fee until December 31, 2018 inclusive

Law no. 85

October 19, 2018

The Ministry of Finance has issued Law No. 85 dated October 10, 2018 enabling Lebanese Offshore Companies to be founded and managed by a sole shareholder, with the latter being either a physical or legal entity.

The sole shareholder may manage the Company, exercise all powers and responsibilities entrusted to the Board of Directors, individually sign all decisions, and appoint a manager or more in accordance with applicable regulations.

Decision 1472/1

October 11, 2018

The Ministry of Finance has issued Decision No. 1472/1 dated September 27, 2018 which details the criteria for determining beneficial ownership.