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Syria, officially the Syrian Arab Republic, is a country in West Asia located in the Eastern Mediterranean and the Levant. It borders the Mediterranean Sea to the west, Turkey to the north and northwest, Iraq to the east and southeast, Jordan to the south, and Israel and Lebanon to the southwest. It is a republic under a provisional government and comprises 14 governorates. Damascus is the capital and largest city. With a population of 26 million across an area of 185,180 square kilometres (71,500 sq mi), it is the 56th-most populous and 87th-largest country.
Syria offers a potentially high return market in which to do business despite a challenging context. The new Syrian government is working to deliver stability to Syria, including through political transition and economic recovery. The World Bank’s Macro Fiscal Assessment of Syria (June 2025) notes that Syria’s economy contracted by more than half between 2010 and 2024. Syria moved from being a low middle income country with Gross National Income (GNI) per capita edging towards $2,500 in 2010, to one with GNI per capita at $830 in 2024. Syria’s economy is set to grow by 1% in 2025 – a marked shift. Syria is ranked 176 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Syria improved to 176 in 2019 from 179 in 2018. Ease of Doing Business in Syria averaged 159.17 from 2008 until 2019, reaching a high of 179.00 in 2018.
Doing business in Syria offers potential advantages related to its strategic location, a large need for reconstruction, an untapped market with low competition, and significant natural resources.
Syria is in the process of a major tax system overhaul, with a new, simplified regime expected to come into effect in early 2026.
The current system (primarily based on laws from 2003 and earlier, with numerous wartime amendments) is a complex structure that classifies income by its source and relies heavily on indirect taxes and various fees.
Applied through a “schedular” system, meaning different types of income (wages, business profits, capital income) are taxed separately.
The primary source of government revenue, including sales taxes, customs duties, and various “war effort” or “reconstruction” fees that proliferated during the conflict.
The new transitional government is implementing reforms aimed at simplifying the system, attracting investment, and increasing compliance.
The fragmented system is being replaced with a single, unified income tax framework.
A simpler, flat-rate system for businesses.
A new VAT-like regime will replace the previous consumption taxes.
The new system emphasizes the digitization of tax administration, including e-filing, QR-coded receipts, and the creation of specialized tax courts to handle disputes.
Syria’s business landscape includes common structures like Limited Liability Companies (LLCs) (SARL), Joint Stock Companies (JSCs) (Public & Private), Partnerships (General & Limited), and Sole Proprietorships, alongside options for Branch/Representative Offices for foreign firms.
• General Partnership: Two or more individuals sharing profits/losses, with unlimited liability.
•Limited Partnership: Involves general partners with unlimited liability and limited partners.
• Sole Proprietorship: Owned by one person, with personal liability for all debts.
Chandrawat & Partners is a prominent full-service firm dedicated to delivering top-tier professional services to clients both within the domestic and international spheres.
Chandrawat & Partners stands as a dynamic and rapidly expanding full-service firm, specializing in the delivery of exceptional professional and corporate services to a diverse clientele, both foreign and local. We proudly represent companies and individuals across a wide spectrum of sectors through distinct entities established in various countries worldwide.
Chandrawat & Partners stands as a dynamic and rapidly expanding full-service firm, specializing in the delivery of exceptional professional and corporate services to a diverse clientele, both foreign and local. We proudly represent companies and individuals across a wide spectrum of sectors through distinct entities established in various countries worldwide.
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