Cost of a Business Start Up
Planning to start a business in Lebanon? After you finish the market research and feasibility study you should prepare the budget to register your company. Here is a short list about the most important legal costs to register your company in Lebanon and to have a general idea what you should do first.
- Assigning a Lebanese lawyer for around LBP 6,000,000 (annual fee)
- Depositing a capital in the bank and obtaining an official document of deposit
- Registering the company for around LBP 1,700,000
- Informing the Ministry of Finance of starting up the operations
- Registering at the National Social Security fund
- These procedures will take around 10 working days.
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Steps to Start buisness in lebanon
Most new ventures do not succeed, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, consider all of the implications of being an entrepreneur. Before you move forward with starting a business, be sure to do these three things:
Speak with other entrepreneurs in Lebanon. Ask them candidly what it’s like to run a business.
You should read Starting a Company. It’s a good read for those who are thinking about becoming an entrepreneur.
Talk it over with a close friend or partner. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
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