Finance Committee Approves 5% Stamp Fee for Mukhtars and Golden Residency for Non-Resident Investors

The Finance and Budget Committee convened under the leadership of MP Ibrahim Kanaan, with the attendance of Finance Minister Yassine Jaber, Justice Minister Adel Nassar, and MPs Ali Fayyad, Alain Aoun, Ali Hassan Khalil, Ihab Matar, Adnan Traboulsi, Ali Hassan Khalil, Salim Aoun, Jihad Al-Samad, Farid Al-Bustani, Fouad Makhzoumi, Michel Mouawad, Taha Naji, Cesar Abi Khalil, Jamil Al-Sayyed, Hassan Fadlallah, Ghassan Hasbani, Ghada Ayoub, Melhem Khalaf, Mohammad Khawaja, Simon Abi Ramia, Halima Qaqqour, and Ghazi Zaiter.

Following the session, Kanaan announced, "Today we approved granting Lebanon’s mukhtars a fee amounting to 5% on the stamp duty, which will finance their fund. We established a mechanism for stamping and tagging to prevent any forgery or evasion. This fulfills a longstanding demand of our mukhtars, hoping there will be no delay in approval by the general assembly."

Regarding the golden residency, Kanaan stated, "We all recognize Lebanon’s need to attract investors and investments, which certainly begins with economic, financial, and banking recovery. However, we must prepare for the next phase even if we have not entered it yet. Therefore, the government submitted a project that grants non-residents in Lebanon—whether foreigners or Lebanese working abroad who require tax residency—a golden residency under the condition of investing no less than $500,000 in three sectors. This is subject to the foreign ownership law concerning real estate and requires transferring funds from abroad with strict compliance checks to prevent any money laundering attempts via bank accounts or other means. The family benefits from this, in addition to paying an annual fee of no less than $50,000 for each family member wishing to benefit from the tax residency. This initiative creates job opportunities, brings funds to the state treasury, and encourages investments when conditions and requirements are met."

On the matter of the Judges’ Solidarity Fund, Kanaan clarified that "there is a fee collected by notaries."

He noted that the government has sent a proposal to increase the percentage and deduct one per thousand in favor of the fund. "The Minister of Justice explained the importance of the project, and there was a discussion with differing viewpoints, including suggestions for rephrasing, amendments, or objections to the principle," he added.

Kanaan pointed out, "Instead of calculating some fees in Lebanese pounds based on criteria preceding the currency exchange collapse, the project proposes multiplying the fee by 46 times, consistent with other fees. We requested the Ministry of Justice to provide a clear schedule of fees before approving any amendment. We will follow up on this matter in upcoming sessions, awaiting information from the International Monetary Fund regarding banking reforms. I will call for two weekly sessions, on Mondays and Thursdays."

In this context, Kanaan explained, "Regarding housing, there was a draft law submitted by colleague Simon Abi Ramia that would significantly assist those with requests at the Housing Institution, expedite work, and increase the capacity to meet a larger number of requests. Due to the lack of quorum before discussion and voting, it will be presented in the next session, depending on the attendance of the Housing Institution’s Director General, Rony Lahoud, who is currently traveling."