{"id":192,"date":"2015-01-28T19:01:53","date_gmt":"2015-01-28T17:01:53","guid":{"rendered":"http:\/\/syrianlawjournal.com\/wordpress\/?page_id=192"},"modified":"2020-01-14T16:06:43","modified_gmt":"2020-01-14T14:06:43","slug":"company-law","status":"publish","type":"page","link":"https:\/\/www.syria.law\/index.php\/legislation\/company-law\/","title":{"rendered":"Company Law"},"content":{"rendered":"\n\n\n\n\n\n\n\n
LAW<\/td>\n\n

Companies Law<\/h4>\n<\/td>\n<\/tr>\n

REFERENCE<\/td>\nLegislative Decree 29\/2011<\/strong><\/td>\n<\/tr>\n
DATE OF PROMULGATION<\/td>\nPromulgated by President Bashar Al-Assad on February 14, 2011<\/td>\n<\/tr>\n
RELEVANT PROVISIONS<\/td>\n\n
    \n
  • Permits the establishment of certain business entities, the most important of which are:\n
      \n
    1. Public Joint Stock Company<\/li>\n
    2. Private Joint Stock Company<\/li>\n
    3. Limited Liability Company<\/li>\n
    4. General Partnership<\/li>\n
    5. Limited Partnership<\/li>\n<\/ol>\n<\/li>\n
    6. In general, no foreign ownership restrictions apply to the incorporation of these business entities.<\/li>\n
    7. Companies incorporated by foreign shareholders face no restrictions with regards to property ownership.<\/li>\n
    8. Public JSCs must offer a minimum of 25% of their shares to public subscribers.<\/li>\n
    9. Regulates board and shareholder meetings.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
RELATED LEGISLATION<\/td>\n\n
    \n
  • 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.<\/li>\n
  • Legislative Decree 29\/2011 repeals Law 3\/2008 and provides for the reintroduction of private JSCs, which did not feature in Law 3\/2008.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
HISTORICAL CONTEXT<\/td>\n\n
    \n
  • 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.<\/li>\n
  • Legislative Decree 29\/2011 builds on the more liberalized approach towards the incorporation of companies adopted by Law 3\/2008.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    \n\n\n\n\n\n\n\n\n
    LAW<\/td>\n\n

    Foreign Businesses Law<\/h4>\n<\/td>\n<\/tr>\n

    REFERENCE<\/td>\nLaw 34\/2008<\/strong><\/td>\n<\/tr>\n
    DATE OF PROMULGATION<\/td>\nApproved by the People\u2019s Assembly on December 18, 2008
    \nPromulgated by President Bashar Al-Assad on December 24, 2008<\/td>\n<\/tr>\n
    RELEVANT PROVISIONS<\/td>\n\n
      \n
    • Recognizes four entities that foreign businesses may establish in Syria, which are the:\n
        \n
      1. Branch Office<\/li>\n
      2. Temporary Office<\/li>\n
      3. Representative Office<\/li>\n
      4. Regional Office<\/li>\n<\/ol>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
    RELATED LEGISLATION<\/td>\n<\/td>\n<\/tr>\n
    HISTORICAL CONTEXT<\/td>\n\n
      \n
    • 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.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

      LAW Companies Law REFERENCE Legislative Decree 29\/2011 DATE OF PROMULGATION Promulgated by President Bashar Al-Assad on February 14, 2011 RELEVANT PROVISIONS Permits the establishment of certain business entities, the most important of which are:...<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":107,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"page-templates\/child-menu.php","meta":{"footnotes":""},"class_list":["post-192","page","type-page","status-publish","hentry"],"yoast_head":"\r\nCompany Law | SYRIA.LAW<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.syria.law\/index.php\/legislation\/company-law\/\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" 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