Originally from:
Legal Aspects of Doing Business in the Middle East - 2nd Edition - Looseleaf
Legal Aspects of Doing Business in the Middle East - 2nd Edition - Digital
Syria
Nazir Sinan
Damascus, Syria
Freedom Granted to Foreigners in Trade and Industry
Syrian laws do not differentiate between the citizens of the Syrian Arab Republic and the
citizens of foreign countries as to the freedom granted them to engage in trade and do not
impose restrictions on this freedom. SyriaLegislation does not take the principle or reciprocal
treatment as a rule to grant the foreigner the right to engage in trade in Syria or to deprive
the foreigner of such a right; further, the foreigner is not required to obtain permission from
Syrian authorities to engage in trade, to the exclusion of insurance business and the business
of correction eyeglasses.
Under LegislativeDecreeNumber 151 of 30March 1952, the legislature authorizes all foreign
companies incorporated outside the territory of the Syrian Arab Republic. Whether
they are corporations or partnerships, theymay establish a branch in Syria, operating under
the business address, in their names and for their account, and to carry on the business of the
branch. The branch does not need to be registered at theMinistry of Economy and Foreign
Trade.
Investment of Capital and Guarantees
Legislative Decree 348 of 30 December 1969 stipulates in its first article that facilities and
advantages defined in the decree are granted to capital belonging to emigrants and Arab
nationals and invested in development programs and deposited in Syrian banks for a period
of not less than threemonths.The second article of this decree considers as invested funds:
• Foreign currencies transferred to Syria through the channel of an accepted bank, except
funds subjected to a liability of transfer according to pending legislation or that which
could be transferred to meet residence expenses.
• Industrial and agricultural machines and equipment and raw materials necessary for
the establishment of plants or their expansions and means of transport, if they are
imported especially to be used in plants mentioned in this legislative decree and
according to its terms.
• Patent rights, such as invention rights, trade and industrialmarks if they are the property
of non-Syrians and have been exploited in projectsmentioned in this legislative decree.
• Profits realized by the project registered under the terms of this decree if they have been
used toward increasing the original capital of the project, or if they are invested in projects
in one of the following fields: (a) transport; (b) tourism; (c) construction; (d)
Nazir Sinan
Damascus, Syria