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Capital: Beirut
Official Language: Arabic
Recognized Languages: French

Table of Contents Relevant Contact Info Who can buy property in Lebanon How to buy Fees Constitution Notes Communication history

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Contact the Republican Palace

 http://www.presidency.gov.lb/Arabic/ContactPresidentOffice/Pages/ContactPresidentialPalace.aspx
 Email address: [email protected]
 Telephone number of the President's office
 00961- (5) -900900
 Fax number of the office of the President
 00961- (5) -900919

Ministry of Culture

 Mr. Omar Halablab
 General Director
 E-mail address: [email protected]
 Telephone: (961 1) 756 314
 (961) 381 06 65
 Web site: http://www.economy.gov.lb
 Address: Beirut Lebanon

Foreigners are allowed to buy property in Lebanon but are limited to 3,000 square metres of land including the building, without prior permit or authorisation. For larger plots for a commercial development, a Decree from the Council of Ministers would be required. Foreigners are given one year to purchase and register the property, after which the license is cancelled, and any new construction must be completed within a 5-year period.

HSBC offers loans to individuals who:

Are salaried, self-employed, professionals and traders residing and working in Lebanon.

For salaried:

Minimum 21 years at loan application, maximum 65 years at loan maturity

Minimum income $1,500 with no salary transfer required

Minimum employment period: 6 months

For Self-employed professionals and traders:

Minimum 21 years at loan application Maximum 65 years at loan maturity

Minimum income: $3,000

Minimum employment period: 1 year in business

Down payments start from 25% with a minimum Loan Amount of US$25,000, and a maximum Loan Amount: US$1,250,000.

The repayment period has a minimum of 5 years and a maximum of 25 years, with payments being made monthly.

A sale agreement is drawn up by a notary public or a qualified facilitator, in place of a lawyer, as they are only required on complicated transactions.

Once an agreement has been made between the buyer and seller, the seller acquires a Real Estate Certificate from the Land Registry.

Key stages in the conveyancing process:

For an apartment:

Obtain a rental value from the Ministry of Finance.

Obtain a sale contract from a Notary Public.

Obtain a title deed.

Pay the property registration fee.

For land:

Instead of obtaining a rental value, one must obtain a statement of contents from the municipality where the land is located.

Obtain a sale contract from the notary public.

Obtain a title deed.

Obtain a map location of the property.

Pay the property registration fee.

Other documents that may be produced, but not necessary, are: official cadastral (tax zone) map, urban plan certificate from the Municipality and Urban Planning Authority, and tax clearance from the Municipality.

These fees are all paid by the buyer:

Transfer fee 5%

Stamp Duty 0.3%

Bar Association Fee 0.1%

Municipal Fee 0.25%

Notary Tax 0.1%

Registration Fee 0.15%

Total transaction costs: 5.9%

LEGAL FRAMEWORK FOR OWNERSHIP OF LAND IN LEBANON

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Source: http://www.executive-magazine.com/hospitality-tourism/lebanon-is-getting-its-tourism-groove-back