Lebanon’s Draft Budget Wants To Give Permanent Residency To Foreigners Who Buy Property, Except Syrians And Palestinians

Advisor Travel

Lebanon Budget Draft for 2021 includes a modification that grants permanent residency in Lebanon for any foreigner that invests in real estate, with the exception of Syrian and Palestinian nationals.

This specific law, found on page 91 of the draft, grants Lebanese permanent residency to all foreigners who buy residential real estate in Lebanon.

As long as the investor keeps the real estate in their name, permanent residency will be granted to the investor, his spouse, and his underage children.

It also requires that the residential real estate be worth $350,000 or more if it is located in Beirut, and $200,000 or more if it is located outside Beirut.

The drafts also specifies that the purchase of this real estate should happen through an international bank transfer.

Syrian and Palestinian refugees are exempt from this law to ensure their right to return to their respective countries is preserved, according to the budget draft.

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