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Lebanese law does not provide for direct limitations on foreign interest in joint stock companies. The only indirect limitation is that the Board of
Directors must have at least three Lebanese members out of the maximum twelve allowed. Another limitation is confined to joint stock companies whose
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30,000,000. Ownership of shares in the company entitles the shareholder to membership in the company, a right to participate in management and a right to vote. These shares are negotiable or transferable. The liability of each shareholder is limited to the value of the shares held. The Board of
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Directors must set aside 10% of net profits to create a statutory reserve fund until such time as this reserve fund becomes equivalent to one-third of the capital of the company. A joint stock company must appoint an auditor.
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A joint stock company is an association of funds contributed to by three or more persons. An s.a.l. must have at least three shareholders and capital of at least
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object is the acquisition of and trading in real estate in
Lebanon. In this case, 50 percent of the capital must be held by Lebanese nationals.
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51:—the financial involvement of each associate.
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38:. Its main characteristic is the
77:Société à responsabilité limitée
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81:Limited Liability Company
19:Société anonyme libanaise
109:Business in Lebanon
32:joint stock company
41:intuitus pecuniae
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114:Law of Lebanon
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30:term for a
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88:References
26:, is the
67:See also
36:Lebanon
28:French
24:s.a.l.
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73:Sàrl
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