
In this article we have described the most important facts about the country, it's culture, economics and buying process. More detailed information about the country you can find in Wikipedia.
Lebanon is a country immersed in history. Lying on the Mediterranean Sea, at the junction of Asia and Europe, Lebanon's cities and harbours were major outposts in Phoenician and Roman times. The Békaa Valley, known in the 1st century BC as the 'granary' of Rome, is still the country's main agricultural region. Lebanon has remarkable natural landscape, especially considering that mostly desert countries are surrounding it. There are four main geographic regions in Lebanon that can easily be identified on the map of the country. From west to east, there is the coastal plain, the Mount Lebanon Range, the Békaa Valley, and the Anti-Lebanon Range. Each region varies in topography and climate and what it can offer a visitor.
From 1975 until the early 1990s Lebanon endured the civil war, which deeply scarred the country and its inhabitants, and it took years to pick up the pieces. Now Lebanon is rebuilding and ensuring that a ceasefire holds.
The ancient cities, ski resorts, impressive architecture and striking landscapes of Lebanon are just the start. The country is also known for its abundance of fresh fruit, vegetables and seafood and for its traditional starters, known as 'Mezza', where 40 small dishes are served as appetizers. Beirut, known as Paris of the Middle East, is a trendy and cosmopolitan city where a variety of languages, nationalities and religions assimilate. This melting pot of cultures is apparent in the colourful contrasts of the Mediterranean city where modern life plays out in the midst of ancient buildings, where churches and mosques sit adjacent to one another, and traditional and modern types live together in relative harmony.
The official currency is the Lebanese Pound (LBP), which divides into 100 Piastres. The Lebanese Pound is locally known as the 'Lira'. ATM machines are widely available in Lebanon except in isolated towns and cash can be withdrawn from banks during business hours. Credits cards are widely used and travellers checks in US dollars are accepted at major exchange offices. In 2008 when the global economic crisis started everyone was affected all over the world but Lebanon was lucky not to be hurt by this due to its strong banking and finance institutions. The banking sector in Lebanon has attracted a lot of Lebanese and Gulf investors thanks to this stability. Buying villas or apartments in Lebanon is a good choice for foreigners, who see Lebanon as a lucky chance to mix both business and pleasure.
The profound interplay between history, culture and nature makes Lebanon the most attractive and enchanting tourist destination in the world. Attractions in Lebanon includes wide array of historical edifices, cultural structures, cities, valleys, popular tourist sites etc.
Lebanon has been the place for a number of civilizations that have come down in different historical eras. These civilizations have left their vestiges in various regions of the country which form the most interesting tourist attractions.
One of the highlights of visiting Lebanon is the constant reminder of the country's long-standing role in the history of the world. Evidence of Phoenician and Roman occupancy is best seen at the pre-Roman historic site of Baalbek, known as the largest and best preserved Roman ruins in the world, and in the coastal cities of Saida (Sidon) and Jbail (Byblos), where you have the rare opportunity to snorkel amongst long-submerged Phoenician ruins.
Foreign ownership of real estate property in Lebanon is allowed. Foreigners can acquire up to 3,000 square meters of land. If non-resident wants to purchase land near Beirut, for example, any bigger than this, he must take a prior decree from the Council of Ministers. Foreigners can only own up to 3% of the total land area of Lebanon. In the case of Beirut, foreigners can acquire up to 10% of the total area of the city.
A lawyer isn’t always needed in real estate transactions, except when it is more complicated than the usual procedure. If the two parties have agreed on the sale, the sale agreement can be drawn up by a notary public or a qualified facilitator, in place of a lawyer.
When the foreigner starts to register property in Lebanon, the seller acquires a real estate certificate from the Land Registry. Other documents that may be produced, but not necessary, are: official cadastral map, urban plan certificate from the municipality and urban planning authority, and tax clearance from the municipality.
If the documents are signed in the notary’s office the notary tax has to be paid. If the documents are presented directly to the Land Registry, this cost is no longer required.
Taxes and fees:
Registration Fee 5%
Transfer Tax 5%
Stamp Duty 0.3%
Municipality Fee 0.25%
Bar Association Tax 0.1%
Notary Tax 0.1%
Lawyer’s Fee (approx.) 500 USD