Company registration in Syria

Syria is an appropriate ground for exporting technical-engineering services and products for Iranian companies after the end of civil wars. Political and cultural communications have provided the grounds for such a continuous cooperation.
Commercially, Syria is ready to attract foreign investments so it can resort to rebuild the country. Therefore, the possibility of company registration with 100% foreign ownership is ready.
Company rules in form of the law passed in 2011 permit to found some trade organizations and based on this rule, some communities founded in form of commercial or service companies which the most important ones are Joint Stock Companies, Limited Liability and Cooperative Companies. It is necessary to mention that there is no limitation in combination of each one for foreign ownership. It is allowed to register a company 100% owned by foreign nationals. The companies with the owner of foreign persons which is registered in Syria has Syrian nationality and regardless of their shareholders` nationality, they can own as much the property as they want in Syria. In addition, a company must be registered commercially in the commercial area of its residence city. Trade registration of company is under authority of Managing Companies Department of Ministry of Internal Trade and Consumer Protection. The cost of founding and registering Limited Liability Company (LLP) is lower than Joint Stock Company (JSC).

Executive requirements of company registration
• Arranging a power of attorney for a Syrian lawyer in order to follow up relevant affairs to registration.
• Presenting passport
• Statute, partnership and minutes of general assembly together with the resolution of LLC establishment and registration in Syria.
• Opening a bank account
• Renting an office for company registration

Executive requirements of company registration
• As a main necessity of Limited Liability Company registration, buying or renting a real state with the commercial use is considerable. The size of the office can be as small as a simple room.
• The company has to determine an auditor and renew determination annually.
• Limited Liability Company can be managed by manager or managing board.
• Allowed managing board for LLC is one to seven members.
• The companies` managers can be from every nation. 40% of company`s capital must be paid just after founding the company and the rest must be paid within a year. Otherwise, canceling trade registration of company is possible.