Business entities in Syria

Healy Consultants will assist our Clients to incorporate the optimal corporate structure in Syria. There are several ways of doing business in Syria, the most common being the setting up of a limited liability company. Foreign entrepreneurs may also opt to set up a joint stock company or a branch office.

The Syria limited liability company (LLC)

Syria business entity types and requirements

  • The Syria limited liability company (LLC) requires only 1 director and 1 shareholder of any nationality for incorporation process to be complete. The minimum paid-up capital required is US$2,000 which must be paid-up before the company is incorporated. All incorporation documents must also be translated into Arabic and legalized by the nearest Syrian Consulate;
  • All LLCs in Syria must submit annual audited financial statements. For this purpose, they must therefore also appoint a certified auditor. If required, Healy Consultants will assist our Clients with finding the certified auditor required for this purpose.

The Syria joint stock company (JSC)

  • To setup a Syria joint stock company, our Clients are required to appoint a minimum of 5 shareholders and 5 directors, who can be of any nationality and may be ordinarily resident outside of Syria;
  • The minimum paid-up capital required to complete the incorporation process is US$5,000, of which 40% must be paid-up in cash before registration and the remaining 60% must be paid-up within 3 years from the date of incorporation. A Syrian joint stock company must also offer 45% of its shares to the public through an IPO on the Damascus Securities exchange;
  • Like limited liability companies, Syria joint stock corporations are required to submit annual audited financial statements. If required, Healy Consultants will assist our Clients with finding the certified auditor required for this purpose.

The Syria branch office

A foreign company may pursue business in Syria through the establishment of a branch office. The branch will operate in the name of the foreign company and must therefore use the registered name of its parent company. It must also have a registered office in Syria.

Table of comparison between Syria entities

LLC JSC Branch Office
How long to set the company up? 6 weeks 7 weeks 8 weeks
How long to open company bank account? 3 weeks 4 weeks 5 weeks
Legal liability? Limited Limited Unlimited
Wholly foreign owned? Yes Yes Yes
Minimum paid - up share capital? US$2,000 US$5,000 US$1
File annual tax return? Yes Yes Yes
Tax registration certificate required? Yes Yes Yes
Recommended corporate bank account? Byblos Bank Bank of Syria and Overseas Commercial Bank of Syria
Does our Client need to travel? No No No
Resident director required? No No No
Resident shareholder required? No No No
Minimum directors allowed? 1 5 1
Minimum shareholders? 1 5 1
Tax identification code needed? Yes Yes Yes
Syria resident company secretary required? No No No
Corporate agent required? No No No
Corporate shareholders allowed? Yes Yes Yes
Corporate director(s) allowed? Yes Yes Yes
Statutory audit required? Yes Yes Yes
Syria corporate tax rate? 10% to 28% 10% to 28% 10% to 28%
Annual financial statements required? Yes Yes Yes
Regulated by? Ministry of Internal Trade and Consumer Protection Ministry of Internal Trade and Consumer Protection Federation of Syrian Chambers of Commerce
Allowed to issue sales invoices? Yes Yes Yes
Allowed to sign contracts? Yes Yes Yes
Allowed to import and export goods? Yes Yes Yes
Can rent an office space in Syria? Yes Yes Yes
Can buy Syria property? No No No
Total Syria business setup costs in yr. 1? US$30,450 Contact us Contact us
Subsequent annual costs (incl. accounting and tax fee)? US$12,050 Contact us Contact us
Sample engagement invoice? View invoice PDF Contact us Contact us

Contact us

For additional information on our company setup services in Syria, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Sales & Business Development Manager
  • Contact me!
General Foreign Trade Organization General Social Security Organization Ministry of Internal Trade and Consumer Protection Federation of Syrian Chambers of Commerce Syrian Ministry of Finance