Did you know that as of April 1, 2019, significant changes were made to the Lebanese Commercial Code? Thanks to Law No. 126, passed by the House of Representatives, there are now key updates affecting limited liability companies (LLCs) in Lebanon.
Previously, under Legislative Decree No. 304 dated December 24, 1942, forming a limited liability company required a minimum of three partners. However, the new amendment to Article 844 of the Law of Obligations and Contracts now allows the creation of an LLC by a single partner. This change aligns Lebanon with global business trends, where the concept of a one-person company is widely adopted.
In addition to this, Article 93 of Legislative Decree No. 35 dated May 5, 1967, was also updated to reflect this shift.
These amendments were necessary to keep pace with the evolving economy and modernize Lebanon’s business laws. Despite this progress, many merchants and entrepreneurs remain unaware of these changes, particularly the ability to establish a limited liability company with just one partner.
If you’re a business owner or considering starting a company, it’s important to be informed about these legal updates. Contact us for guidance and ensure your business structure is in line with the latest regulations.