Investor Guide in Syria
Everything an investor needs to start an investment project in Syria
Basic Definitions
The Authority: The Syrian Investment Authority, the investor's first point of contact.
Investor Services Center: A one-stop window with representatives from all public agencies, where all transactions and licenses are processed.
Investment License: The official document granted by the Authority to the investor, authorizing the start of project establishment.
Foreign Capital: Capital or in-kind equipment coming from outside Syria to finance the project.
Covered Investment Sectors
The law covers all major economic sectors, including but not limited to:
Industry
Agriculture
Telecommunications & Technology
Tourism
Health
Housing & Real Estate Development
Oil & Mineral Resources
Transport, Aviation & Ports
Education & Sports
Procedures for Obtaining an Investment License
1
Submit the application to the Investor Services Center at the Authority or one of its branches with the following documents:
- Economic feasibility study.
- List of assets, machinery, and equipment.
- Establishment timeline.
- Property ownership/lease documents (or legal occupancy proof).
- Declaration of familiarity with the law and procedural guidelines.
- Copy of ID/passport and proof of financial solvency.
- Any additional sector-specific documents (as specified in the procedural guide).
2
Review and Study:
- If the site is outside the regulatory plan, a governorate committee is formed to assess its suitability within 7 days.
- Applications are technically reviewed by agency representatives at the center within 30 working days of document completion.
3
Decision on Application:
- After obtaining approvals, the investment license is granted (authorizing the start of establishment and implementation).
- The license specifies rights, obligations, and incentives by sector.
4
In Case of Rejection:
- The rejection must be justified.
- An objection can be filed to the Board of Directors within 30 days of notification, decided within 15 days.
Fundamental Investor Guarantees
- Precautionary seizure or receivership only by court order.
- Expropriation only by judicial ruling.
- Non-retroactivity of laws: no new procedural or financial burdens beyond those in the procedural guide at application time (during establishment phase), except for environmental and public health matters.
- License cancellation only after warning and 6-month grace period; cancellation must be justified and appealable in court.
- Protection of intellectual, commercial, and industrial property.
Investor Rights
- Own and lease properties required for the project.
- Open bank accounts in Syrian Lira and foreign currencies.
- Obtain credit facilities from Syrian and foreign banks per Central Bank instructions.
- Transfer profits and foreign capital abroad after paying taxes and obligations.
- Repatriate foreign capital if the license is not issued or the project is not implemented due to force majeure.
- Temporary import of equipment for testing and installation.
- Transfer wages of non-Syrian workers and experts abroad (with required documentation).
Residency and Work Facilitations:
- For non-Syrian investors: temporary residence for one renewable year after application, plus residence permits for family and foreign workers.
- Work permits for foreign workers and experts.
Customs Incentives
- Exemption of imported machinery and industrial production lines from all customs duties, financial charges, and non-customs additions.
- Exemption of all machinery and equipment for real estate development and investment projects from customs duties.
- Exemption of medical equipment for hospitals and health centers (must be new and project-specific).
Tax Incentives
Permanent 100% income tax exemption for agricultural and livestock production projects.
Permanent 80% income tax reduction for projects in development zones.
Permanent 80% income tax reduction for the following projects outside development zones:
- Industrial projects exporting more than 50% of production.
- Medical industrial projects (human, veterinary, agricultural).
- Agricultural and livestock manufacturing projects.
- Waste recycling projects with eco-friendly technologies.
- Agricultural product sorting and packaging facilities.
- Handicraft facilities.
Non-Tax Incentives
- Import permission exempting from prohibition and restriction for locally unavailable production inputs.
- Access to the Local Production and Export Support and Development Fund services.
- Access to technical support programs for SMEs.
Special Economic Zones
The law allows establishing three types of special economic zones by Supreme Council decision, with special advantages and incentives:
1
Development Zone
Aims to develop specific areas, reconstruction, or establish major real estate development projects.
2
Specialized Zone
For practicing a specific type of activity (medical, technological, tourism, sports, etc.).
3
Private Ownership Zone
Investors can apply to convert their owned land into an investment zone, with regulatory adjustments to suit the project.
Key Investor Obligations
- Notify the Authority of progress stages and commencement of operations.
- Insure the project with Syrian insurance companies.
- Maintain accounts per international standards and submit audited financial statements.
- Use Syrian companies for implementation; local workforce must be at least 80%.
- Comply with environmental and occupational safety legislation.
- Community contribution: allocate 3%+ of profits to development projects (tax-deductible expense).
- Project transfer must be done before the Authority per procedural guidelines.
Dispute Resolution
- Amicable methods (conciliation and mediation).
- Arbitration under Syrian law or international agreements.
- Investment lawsuits have urgency status before competent courts.
Important General Provisions
- Law priority: if the Investment Law conflicts with any other law, the Investment Law prevails.