A New Horizon for Investment in Syria
Recent political and economic developments, including the partial lifting of U.S. and EU sanctions, have opened new avenues for investment in Syria. The Syrian government is actively seeking to attract both local and foreign investments, focusing on reconstruction and strengthening the private sector.
Key Promising Investment Sectors
Investment opportunities in Syria encompass the following sectors:
- Infrastructure: Reconstruction projects and urban development.
- Agriculture and Food Industries: Utilizing natural resources and enhancing food security.
- Energy: Renewable energy projects, oil, and gas.
- Tourism: Development of tourist and heritage sites.
- Technology and Communications: Investing in digital infrastructure and electronic services.
Steps to Establish a Company in Syria
To establish a company in Syria, follow these steps:
- Determine the Company Type: Such as a Limited Liability Company (LLC) or Joint Stock Company.
- Set the Capital: The minimum capital for an LLC is 50,000,000 Syrian Pounds.
- Prepare Required Documents:
- Company establishment application form.
- Copies of ID or passport.
- Company’s articles of association.
- Appointment of managers.
- Submit the Application: To the Companies Directorate at the Ministry of Internal Trade.
- Pay Fees:
- Study fee for the articles of association: 100,000 SYP.
- Certification fee for the articles of association: 500,000 SYP.
Facilitations for Syrian Investors Abroad
The Syrian government offers several facilitations for Syrian investors residing abroad, including:
- Tax Exemptions: For investment projects in specific sectors.
- Profit Repatriation: Ability to transfer profits in foreign currencies.
- Simplified Procedures: Through diplomatic missions and embassies.
Legal and Regulatory Framework
Companies in Syria are governed by the Companies Law No. 29 of 2011, which regulates:
- Company Registration: In the commercial registry.
- Articles of Association: Defining partners’ rights and obligations.
- Taxes and Fees: Applicable to companies.
Conclusion: A Promising Future for Investment in Syria
With improvements in the investment and legislative environment, Syria offers promising opportunities for investors, especially Syrians abroad eager to contribute to their homeland’s reconstruction. By understanding legal procedures and leveraging available facilitations, investors can achieve sustainable success in the Syrian market.
