“Société anonyme libanaise,” abbreviated s.a.l., is the French term for a joint stock company in Lebanon.
Its main characteristic is the intuitus pecuniae [es]—the financial involvement of each associate.
Lebanese law does not provide for direct limitations on foreign interest in joint stock companies.
The only indirect limitation is that the Board of Directors must have at least three Lebanese members out of the maximum twelve allowed.
Another limitation is confined to joint stock companies whose object is the acquisition of and trading in real estate in Lebanon.