Company Directors in Lebanon
Updated on Thursday 19th April 2018
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A legal entity acts through two bodies of individuals: its shareholders and its board of directors. The board of directors is responsible for the management of the activities of the business, such as making the strategic and operational decisions. In this article, our company formation advisors in Lebanon briefly present the status of company directors in Lebanon.
Various legal entities in Lebanon
In Lebanon, there are various legal entities with different roles assigned to their company directors:
· The partnership: this can be:
o A general partnership: the general partners are responsible for managing the company, bening liable for all its obligations; or
o A partnership in commendam: its partners do not participate in the management. Instead, an appointed individual takes care of managing the company;
· The limited liability company: the company directors of such a business vehicle in Lebanon can be one or several of the partners. The manager of such a company here cannot achieve a deal on the behalf of the business or he or she cannot effectuate a transaction in which he or she has an interest of any kind;
· The joint stock company: the board of directors of such a company in Lebanon can be made of minimum three up to twelve members. They are responsible for the activities of the company. The company directors of such legal entity in Lebanon chooses one of its members as the Chairman, who is responsible for executing the decisions of the board.
Lebanon company formation consultants can provide more details on the company directors in such a business structure in this jurisdiction. We can also help investors set up offshore companies in Lebanon.
Offshore company management in Lebanon
Offshore companies in Lebanon are a type of joint stock companies which are regulated by the Decree Law No. 46 in this country.
The decree removed the condition of having two local citizens in the executive board of such a company, which enables foreign investors to get more involved in offshore companies in Lebanon.
When it comes to the Chairman of such a company, he or she can be a foreign resident abroad and he or she can activate without a residence permit.
We can assist you to open such a company in Lebanon, upon request.
If you require more information on the directors of legal entities in Lebanon, we kindly invite you to get in touch with our company registration agents in Lebanon.