"You will be surprised."

With these words, Finance Minister Yassine Jaber expresses his confidence in Lebanon’s ability, despite the collapse, to regain part of its vitality and once again attract capital and investments.

Jaber made the remarks to Annahar after the Finance and Budget Committee, chaired by MP Ibrahim Kanaan, approved a draft law aimed at stimulating investment and attracting new residents. The move reflects an official effort to position Lebanon as an attractive financial and tax destination, rather than a country merely managing its crises.

Prepared by the Ministry of Finance and amended by the Finance Committee to comply with the Foreign Ownership Law and ensure verification of funds transferred from abroad in accordance with Law 44 on money laundering, the draft law goes beyond introducing technical amendments to the Income Tax and Inheritance Tax laws. It establishes a special tax regime for certain individuals who relocate their residence to Lebanon, creating a form of "Golden Residency" or "Tax Residency."

The concept is already used in countries such as the UAE, Greece, and Portugal. Lebanon hopes to attract wealthy individuals living abroad, whether Lebanese or foreign nationals, bringing fresh funds and an international reputation that could help support the country during its financial and economic crisis. To achieve this, the government proposes granting eligible individuals access to a special tax regime that differs from the standard system, encouraging them to transfer both their residence and capital to Lebanon.

The Ministry of Finance is openly betting on the success of this approach. Jaber says the ministry "would not have prepared such a project if there weren't interested parties," adding that many people will be surprised by the level of interest in this type of residency. According to him, the initiative is based on the belief that Lebanon cannot remain in its current state of collapse indefinitely and that it can once again become a destination for investors and expatriates.

Lebanese Finance Minister Yassine Jaber

Golden Residency worth $500,000

A key feature of the proposal is the exemption from taxes on income generated from foreign shares, foreign bonds, and other foreign movable capital revenues for Lebanese and non-Lebanese individuals who become residents within 10 years of the law’s publication.

The exemption would remain in effect until the end of the twentieth year following the law’s publication, provided that applicants did not meet Lebanon’s residency requirements at the time the law was published, during the four years preceding its publication, or during the four years preceding their residency application.

However, access to these benefits comes with conditions. The draft law requires applicants to maintain a permanent investment in Lebanon of at least $500,000. This can take the form of a foreign-currency bank account, real estate ownership, or other investments to be specified by decree. Applicants must also spend at least 90 days per year in Lebanon and must not have any judicial convictions in Lebanon or abroad.

Jaber stresses that the investment requirement lies at the heart of the project. He explains that eligibility for the Golden Residency depends on investing no less than $500,000, whether through a bank deposit transferred from abroad, the purchase of property, or the establishment of a business venture. The objective, he says, is to attract businesspeople and wealthy individuals capable of injecting fresh funds into the Lebanese economy.

Defending the proposal, Jaber points to similar international experiences, citing the former UK "Non-Dom" tax regime, which allowed thousands of wealthy individuals to reside in Britain under special tax conditions before it was later amended.

The draft law also requires applicants to submit a written or electronic request to the Ministry of Finance, along with the necessary documentation, and to pay an annual lump-sum tax of no less than $50,000. Under this system, Jaber explains, new residents would be taxed only on income generated in Lebanon and would not be required to pay Lebanese taxes on their income or business activities abroad, which he describes as the core principle of the project.

What about the $50,000?

One point that generated confusion concerns whether the $50,000 fee applies to each family member benefiting from tax residency.

Jaber clarifies that the issue arises when the head of the household wishes to have family members reside with him under the scheme. The fee applicable to each family member would later be determined by a Cabinet decree issued upon the proposal of the Minister of Finance.

The draft law also introduces an important amendment to the Inheritance Tax Law. It provides an exemption from inheritance tax on movable and immovable assets located abroad when transferred by a Lebanese or foreign national who has become a resident in Lebanon under the conditions of the new law.

This would allow inherited or transferred assets held abroad to be exempt from Lebanese inheritance duties, provided their owner relocates to Lebanon within the framework established by the proposed legislation.