The ISO code of Lebanon is LB according to the ISO 3166 standard. The local name of the country is Lubnan. Lebanon capital city is Beirut. People in Lebanon speak the Arabic language. On 31 December 1946, Lebanon emerged as a sovereign political entity. In the year 12/31/1946, Lebanon emerged as a sovereign political entity. The largest city in Lebanon is Beirut.
Lebanon is located in the UTC +02:00 time zone, which is also called Eastern European Time or EET. The internet country code top-level domain (ccTLD) for Lebanon is .lb. The International dialing code for Lebanon is 961. People in Lebanon drive on the right side of the road. Total land area of Lebanon is 10,400 km² (approx. 4,015 mi²). Lebanon is not a landlocked country. It means that is is bordered by at least one major body of water.
Lebanon is located in Asia. Lebanon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Lebanon faces various issues, including deforestation, soil erosion, desertification, air pollution in Beirut from vehicular traffic and the burning of industrial wastes, pollution of coastal waters from raw sewage and oil spills.
Doing business in Lebanon
We offer various corporate services in Lebanon jurisdiction. These services can serve both, people coming from Lebanon and foreigners. If you plan on doing business in Lebanon you might be interested in contacting us.
To find out about starting your business in Lebanon click on company formation in Lebanon.
To find out how to open a bank account in Lebanon and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Lebanon.
Choose preferred service below or continue reading to find out more about Lebanon.
Demographics of Lebanon
The total population of Lebanon is 6,093,509 people. In Lebanon, the population density is 487 people per square kilometer (1,267 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Lebanon is 0.1314. Lebanon has approximately 1997776 foreign immigrants. The median age is approximately 29.3 years. In Lebanon, 61.25 in every 100 people use internet. Lebanon has a Human Development Index (HDI) of 0.765.
The majority religion of Lebanon is Islam, Lebanon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Lebanon.
Culture of Lebanon
People in Lebanon speak the Arabic language. According to data on inbound tourists in Lebanon, 1,274,000 tourists arrive in the country each year. The first McDonalds in Lebanon was opened on 18 September 1998, and it was located in Beirut. One of the most popular national dishes of Lebanon is kibbeh. To read more click on culture of Lebanon.
Geography of Lebanon
Lebanon is considered to be a large nation because of its total area. Its total land area is 10,400 km² (approx. 4,015 mi²). Lebanon is located in Asia. Its capital city is Beirut. Lebanon has 2 neighbouring countries. Its neighbours include Israel, and Syria. Total length of land borders of Lebanon is 484 kilometers (~187 miles).
The highest point of Lebanon is Qurnat as Sawda', with its official height being 3088 m (10,132 ft). Including land mass and EEZ, the total area of Lebanon is approximately 29,916 km² (~11,551 mi²). The most notable natural resources found in Lebanon are limestone, iron ore, salt, water surplus, arable land.To read more click on geography of Lebanon.
Economy of Lebanon
The currency of the country is Lebanese pound. The symbol used for this currency is ل.ل, and it is abbreviated as LBP. 6.3% of population in the country are unemployed. The total number of unemployed people in Lebanon is 383,891. Each year, Lebanon exports around $5.83 billion and imports roughly $21 billion. The Gini Index of the country is 45. Lebanon has a Human Development Index (HDI) of 0.765.The Global Peace Index (GPI) for Lebanon is 2.623. Lebanon has a government debt of 85.3% of the country's Gross Domestic Product (GDP), as assessed in 2012. Lebanon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are banking, tourism, food processing, wine, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Lebanon is $81,419 billion. Each year, consumers spend around $26,899 million. The ratio of consumer spending to GDP in Lebanon is 0%, and the ratio of consumer spending to the world consumer market is 0.0775. The corporate tax in Lebanon is set at 15%. Personal income tax ranges from 2% to 20%, depending on your specific situation and income level. VAT in Lebanon is 10%. In 2013, Lebanon received 710.2 million USD in foreign aid.In 2014, the foreign aid amounted to 473.6 USD.To read more click on economy of Lebanon.
Infrastructure of Lebanon
Infrastructure quality in Lebanon is rated to be at 2.53. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Lebanon, 100% of the population has access to electricity. There are 64,926 internet hosts in Lebanon. Lebanon has 8 airports nationwide.
The logistics performance index of Lebanon is 2.73. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.22. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Lebanon is 20. To read more click on infrastructure of Lebanon.
Politics of Lebanon
Lebanon, is a unitary parliamentary multi-confessionalist republic. With regard to political and civil freedoms, Lebanon is 2. Citizens in Lebanon experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Lebanon, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Michel Aoun.
According to the World Bank Group, the government effectiveness index of Lebanon is -0.38. This indicates that the government of Lebanon is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Lebanon before considering any business maneuvers.In Lebanon, the legislative power is vested in a Assembly of Deputies. The Global Peace Index (GPI) for Lebanon is 2.623. The strength of legal rights index for Lebanon is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Lebanon received 710.2 million USD in foreign aid. In 2014, the foreign aid amounted to 473.6 USD. Lebanon is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Lebanon is one of the original UN member states who founded the organization. Lebanon is a member of the World Bank. To read more click on politics of Lebanon.
Environment of Lebanon
Lebanon emits 4.7 metric tons per capita of CO2. 1383 km² of Lebanon's territory is covered in forests. and forest land comprises 13% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Lebanon is 20. To read more click on environment of Lebanon.
Company formation in Lebanon
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Lebanon.
When establishing a company in Lebanon, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Lebanon that will affect the establishment and growth of one's business. Contact us or click on company formation in Lebanon to read additional information when setting up a business.
Bank account opening in Lebanon
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Lebanon. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Lebanon, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Lebanon or contact us.