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How to start a business in Syria as a foreigner (2026)

Starting a business in Syria as a foreigner: moderate.

Following the fall of the Assad regime in December 2024, Syria's transitional government has liberalized its foreign-investment regime: Presidential Decree No. 114 of 2025 (issued 24 June 2025) amended Investment Law No. 18 of 2021 to guarantee 100% foreign ownership, remove the prior requirement for a local partner, protect against expropriation, and allow profit and capital repatriation. The legal framework is now welcoming and most international sanctions were lifted in mid-2025, but practical company formation remains constrained by a rebuilding post-conflict economy, a centralized/state-mediated approval system, banking and infrastructure gaps, and residual export controls.

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Legal framework

Investment Law No. 18 of 2021 as amended by Presidential Decree No. 114 of 2025, administered by the Syrian Investment Agency/Authority (SIA) under the Supreme Council for Economic Development; company incorporation under Syrian commercial/companies law.

Key points: starting a business in Syria

  1. 100% foreign ownership now allowed

    Decree No. 114 of 2025 amended Investment Law No. 18 of 2021 to permit full foreign ownership of investment projects and removed the previous requirement that foreign investors take on a local Syrian partner.

    sana.sy sana.sy

  2. Investor guarantees

    The regime guarantees protection against expropriation (with judicial oversight and market-value compensation), the right to transfer profits and invested capital abroad in convertible currency after taxes, and access to international arbitration in disputes with the state.

    investmentpolicy.unctad.org sia.gov.sy

  3. Centralized, state-mediated approvals

    Decree 114 restructured the Syrian Investment Agency into a semi-autonomous body under the Supreme Council for Economic Development (directly affiliated with the Presidency), with licensing routed through 'one-stop' centers, streamlined on paper but politically centralized in practice.

    sana.sy

  4. Foreign labor and residency

    Investors may obtain work and residence permits for themselves, their families, and non-Syrian staff; the amended law permits hiring foreign labor (reported up to ~40%) to fill technical and managerial skill gaps.

    investmentpolicy.unctad.org sana.sy

  5. Sanctions largely lifted (2025)

    A US Executive Order effective 1 July 2025 revoked the OFAC Syria sanctions program and de-listed Syrian banks (incl. the Central Bank of Syria); the EU lifted economic/banking/transport/energy sanctions in May 2025. Certain export controls and individual designations linked to the former regime remain.

    ofac.treasury.gov consilium.europa.eu

  6. Incorporation steps and capital

    Setting up typically involves obtaining an SIA investment licence, reserving a trade name, notarizing Arabic articles of association, depositing required capital in a Syrian bank, and registering in the Commercial Registry plus a tax ID. Minimum capital varies by legal form and sector and is set under Syrian companies law; sensitive sectors (e.g., oil, telecoms, banking, insurance) require additional ministry/Central Bank approval.

    sia.gov.sy investmentpolicy.unctad.org

Sources

  1. sana.sy/en/economic/2306704/
  2. sana.sy/en/economic/2290367/
  3. investmentpolicy.unctad.org/investment-laws/laws/43/syrian-arab-republic-investment-law
  4. sia.gov.sy/wp-content/uploads/2023/03/Investment-Law-No.-18.pdf
  5. ofac.treasury.gov/faqs/topic/1571
  6. consilium.europa.eu/en/press/press-releases/2025/05/28/syria-eu-adopts-legal-acts-to-lift

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Orientation, not legal advice: verify against the primary sources linked above. Last verified 24 May 2026. Methodology & how to cite · State of Technology Regulation 2026