Business
Companies Law 2011, with sanctions and currency controls dominating practice
Companies are formed under Law No. 29 of 2011. Sanctions imposed from 2011, partially eased from 2025, and strict foreign exchange controls have been the determining factors for business rather than company law itself.
Key rules
- Jurisdiction — National, with free zones under separate administration.
Governing law
- Companies Law No. 29 of 2011
- Investment Law No. 18 of 2021
- Legislative Decree No. 54 of 2006 on foreign exchange
In practice
The 2011 companies law modernised corporate forms, and the 2021 investment law created a Syrian Investment Authority with a one-stop window and guarantees on profit transfer. Neither has operated in normal conditions. US, EU and UK sanctions from 2011 restricted banking, energy and much trade; from 2025 there has been significant easing, including suspension of some US measures and EU steps, but the position is changing and requires current verification rather than reliance on any fixed statement. Foreign exchange restrictions and the gap between official and market rates have historically been the practical obstacle to repatriating value.