Company Law

Companies Law

• Permits the establishment of certain business entities, the most important of which are:
  1. Public Joint Stock Company
  2. Private Joint Stock Company
  3. Limited Liability Company
  4. General Partnership
  5. Limited Partnership
• In general, no foreign ownership restrictions apply to the incorporation of these business entities.
• Companies incorporated by foreign shareholders face no restrictions with regards to property ownership.
• Public JSCs must offer a minimum of 25% of their shares to public subscribers.
• Regulates board and shareholder meetings.

• The Companies Law was originally part of the old Commercial Code found in Legislative Decree 149/1949 before it was enacted as separate legislation in Law 3/2008.
• Legislative Decree 29/2011 repeals Law 3/2008 and provides for the reintroduction of private JSCs, which did not feature in Law 3/2008.

• With the changes in economic policy towards a social market economy taking place, the Companies Law 3/2008 sought to promote the Syrian market as a potential base for local and foreign investors.
• Legislative Decree 29/2011 builds on the more liberalized approach towards the incorporation of companies adopted by Law 3/2008.

Foreign Businesses Law

• Recognizes four entities that foreign businesses may establish in Syria, which are the:
  1. Branch Office
  2. Temporary Office
  3. Representative Office
  4. Regional Office

• With the changes in economic policy towards a social market economy taking place, this Law sought to promote the Syrian market as a potential base for local and foreign investors.