Business Administration in Syria

Overview by Globlatrade.net:

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Private Limited Company
 
 
No minimum capital.
Minimum 2.
 
 
Liability is limited to the amount contributed.
Submit the request forms for the creation of a company at the Ministry of Economy and Trade: SYP 250. Apply for company name reservation & commercial registration at the Direction of Commerce at the Ministry of Economy: SYP 10. Open a financial record for the company and register for taxes at the Ministry of Finances: 0.5% of the capital + SYP 10,000. Publication in the Official Gazette: SYP 1,500. Deposit the initial capital in a bank and obtain a statement: SYP 150. Register at the Commercial Registry: SYP 200. Register with the Social Security Organization: SYP 20. Make a company seal: SYP 500.
Public Limited Company.
 
 
 SYP 30,000
No minimum.
 
 
Liability is limited to the amount contributed.
Submit the request forms for the creation of a company at the Ministry of Economy and Trade: SYP 250. Apply for company name reservation & commercial registration at the Direction of Commerce at the Ministry of Economy: SYP 10. Open a financial record for the company and register for taxes at the Ministry of Finances: 0.5% of the capital + SYP 10,000. Publication in the Official Gazette: SYP 1,500. Deposit the initial capital in a bank and obtain a statement: SYP 150. Register at the Commercial Registry: SYP 200. Register with the Social Security Organization: SYP 20. Make a company seal: SYP 500.
Limited Partnership.
 
 
No minimum capital.
No minimum.
 
 
Liability is limited for some partners and unlimited for others.
Submit the request forms for the creation of a company at the Ministry of Economy and Trade: SYP 250. Apply for company name reservation & commercial registration at the Direction of Commerce at the Ministry of Economy: SYP 10. Open a financial record for the company and register for taxes at the Ministry of Finances: 0.5% of the capital + SYP 10,000. Publication in the Official Gazette: SYP 1,500. Deposit the initial capital in a bank and obtain a statement: SYP 150. Register at the Commercial Registry: SYP 200. Register with the Social Security Organization: SYP 20. Make a company seal: SYP 500.
Joint stock limited partnership.
 
 
No minimum capital.
No minimum.
 
 
Liability is limited for some partners and unlimited for others.
Submit the request forms for the creation of a company at the Ministry of Economy and Trade: SYP 250. Apply for company name reservation & commercial registration at the Direction of Commerce at the Ministry of Economy: SYP 10. Open a financial record for the company and register for taxes at the Ministry of Finances: 0.5% of the capital + SYP 10,000. Publication in the Official Gazette: SYP 1,500. Deposit the initial capital in a bank and obtain a statement: SYP 150. Register at the Commercial Registry: SYP 200. Register with the Social Security Organization: SYP 20. Make a company seal: SYP 500.
General Partnership.
 
 
No minimum capital.
Minimum 2.
 
 
Partners' liability is indefinite and joint.
Submit the request forms for the creation of a company at the Ministry of Economy and Trade: SYP 250. Apply for company name reservation & commercial registration at the Direction of Commerce at the Ministry of Economy: SYP 10. Open a financial record for the company and register for taxes at the Ministry of Finances: 0.5% of the capital + SYP 10,000. Publication in the Official Gazette: SYP 1,500. Deposit the initial capital in a bank and obtain a statement: SYP 150. Register at the Commercial Registry: SYP 200. Register with the Social Security Organization: SYP 20. Make a company seal: SYP 500.
 
Business Setup Procedures
Companies have to submit a registration application at the Ministry of Economy and Foreign Trade. The company has to include a copy of the following documents:
-The Memorandum of Association signed by the Chairman of the Board of Directors.
- A document on the internal structure of the company.
- A financial report of the company's accounts.
- The Articles of the company.
- A declaration specifying that the company is not shared or controlled by a government or by another company (joint venture).
- A declaration specifying the decision to open a subsidiary in Syria.
- The company's balance sheet.
The Competent Organization
Foreign companies have to be registered with the Ministry of Economy and Trade.

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Working Conditions

Legal Weekly Duration
42 hours.
Retirement Age
60 in the civil service.
Working Contracts
The law is very specific and precise regarding the contracts of employment. The sources of labor legislation in the Syrian Arab Republic are law n°91 of  April 5, 1959 and legislative decree n°49 of  July 3, 1962. The contract must be drawn up in Arabic with a duplicate, with a copy for each party (art. 43, LC). The trial period is stated in the contract, but it cannot exceed 3 months (art. 44, LC). A contract of employment can be established for a short term period or for an unspecified period of time. If it is agreed for a short term period and both parties continue to comply with it after the expiration date, it must be renewed for an indefinite period of time (art. 71, LC).

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Cost of Labor

Minimum Wage
SYP 5,880 (USD118) for the public and private sector.
Average Wage
Average monthly gross earnings is between SYP 15,000 and 20,000 (USD 370 - 500 ).
Social contributions
Social Security Contributions Paid By Employers: 14% of salary.
Social Security Contributions Paid By Employees: 7% of income.

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Social Partners

Social Dialogue and Involvement of Social Partners
The General Federation of Trade Unions (GFTU) is the organization which represents workers in Syria. Since 1968, a decree has obliged all the country's trade unions to belong to the GFTU. This organization is strictly controlled by the ruling Baath party. It coordinates most aspects of union activity and determines which sectors or activities may create a union or a federation. As a consequence, union action is minimal and strikes are very rare.
Unionization Rate
The unionization rate in Syria is 100 %. Belonging to a trade union is mandatory in order to be employed.
Labor Regulation Bodies
Syrian Ministry of Social Affairs and Labor.

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