The Business Concern is a legal Entity, not having a legal personality, comprising corporeal and incorporeal elements forming the core of the Business and which may be subject to diverse transactions.
Corporeal elements consist of goods, equipments, tools machines and furniture.
Incorporeal elements include trademarks, trade names, patents, copyrights, good will and customers.
These two elements may constitute the object of several transactions as a whole entity or separately such as sale, mortgage, garnishment, contribution in a partnership or a corporation, and independent free management. These transactions should be register at the Commercial Register.
a. Formation:
1. Information and Documents required:
• Full name, Place and Date of Birth of the Merchant with a copy of the ID or Passport.
• Commercial Name under which he is carrying out his business.
• Location of the Business along with the lease Agreement if any.
• A Discharge Document from the Social Security relevant for the Registration of a Business Concern.
• Registration Certificate as a Merchant.
2. Registration Procedures and Cost:
An Application should be presented to the Competent Commercial Register where the Business Concern is located by the Merchant or his legal representative along with the Documents required. Then the Merchant or his legal representative should pass by the Office of the Ministry of Finance to pay the Tax. Afterward, the Commercial Register will issue the relevant Judiciary Fees to be paid by the Merchant and will finalize the Registration procedures after the monitoring of the premises.
The Official Charges for the registration of a Business Concern at the Commercial Register is estimated as follows:
- Monitoring Fees: LBP/75.000/ (Around USD/50/).
- Financial Tax: LBP/750.000/ (Around USD/500/).
- Judicial Fees: LBP/375.000/ (Around USD/250/).
- Stamps: LBP/1.000/ (on each document).
- Financial Charge: LBP/2.000/ + LBP/250/ for each Document.
- POA Registration if any: LBP/100.000/ (Around USD/67/) .
- Each Certified True Copy of the Registration Documents: LBP/2000/.
