Joint Stock Company (Société Anonyme Libanaise – SAL) in Lebanon
The SAL (Société Anonyme Libanaise) is a joint-stock company governed by the Lebanese Commercial Code. It is ideal for medium to large-scale businesses, especially when foreign investors or external shareholders are involved. This structure allows for capital expansion, negotiable shares, and greater access to financing options.
Main Features of SAL
- Shareholders: Minimum of 3 (can be Lebanese or foreign individuals/entities)
- Minimum Capital: LBP 30,000,000 (~USD 20,000)
- Capital Payment: 25% of capital must be deposited in a Lebanese bank upon formation
- Board of Directors: 3–12 members (majority must be Lebanese nationals)
- Auditor: Mandatory appointment of a licensed auditor
- Shares: Freely negotiable and can be listed on the stock exchange
Advantages of SAL
- Ideal for large or public companies seeking investment
- Foreign ownership allowed (with minor limitations on board representation)
- Limited liability for shareholders
- Better corporate image and investor trust
Legal Formation Process
- Choose company name and verify its availability
- Draft Articles of Association and bylaws with a licensed attorney
- Deposit capital in a bank and obtain a certificate
- Notarize documents
- Register with the Commercial Registry
- Obtain tax ID and register with the Ministry of Finance
Mattar Law Firm provides complete assistance in forming SAL companies, including structuring, board member selection, and all legal formalities.