Lebanon has a population of more than 6 million people, with key industries including banking, tourism, and food processing. There are many types of business entities that can be established in Lebanon, with varying tax rates based on industry and company type. The government has no restrictions on foreign exchange or capital movement. The tax year corresponds to the calendar year, unless the company has a parent company with a special financial year.
Labor and Payroll considerations:
- Employment contracts can be verbal or written
- Adding overtime requires the employer to obtain a special permit
- Minimum wage is 675,000 Lebanese pounds per month
- Employers must register new employees with the social security authorities
- The Ministry of Finance requires documentation for new and terminated employees
- Income tax and social security contributions are withheld from employee pay and reporting sent monthly or quarterly
- Employers must also contribute to social security
Funding payroll in Lebanon is flexible, with options for companies with and without local bank accounts. Blue Marble provides money movement services so you can fund payroll in USD and settle in the local currency. If the company does not have a local bank account, the local in-country team can provide payments to employees on behalf of the company.
If you are considering expansion in Lebanon, we can help simplify payroll and operations. Blue Marble has one cloud-based platform to manage employees across all countries and currencies. Create customized reporting and view your payroll in real-time to ensure compliance. Our hybrid service model gives you a dedicated US service team and direct access to in-country experts to help when questions come up. We have made global payroll easy and compliant in 150+ countries. Click here to learn more