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Investing in Syria

A Foreign Investor's Guide to the Investment Law (2026)

Start with investment licences, relevant institutions or guarantees. This guide brings together selected provisions, their sources and questions to help you prepare for project-specific checks.

The framework covered here starts with Investment Law No. 18 of 2021, amended by Law No. 2 of 2023 and Decree No. 114 of 2025. SANA reported on 16 November 2025 that Decision No. 1 of 2025 set out implementing instructions for the amended investment law. This reference brings together selected provisions and questions to help investors trace licensing, guarantees and the competent authorities.

Explore the Provisions and Sources

Selected provisions only, not a consolidated law. Not legal, tax, banking or investment advice. English texts are unofficial translations.

Legal texts and references

How to use this reference

Each excerpt includes its source link and article number. Arabic is the source text; English translations are unofficial. Use the chapters and questions to identify what to verify with the competent authority.

Chapter 1

What the law says it aims to do

Article 2 states the law’s purpose. The excerpt below is that provision, not a project eligibility or licensing checklist.

For requirements that apply to a specific project, identify the relevant instrument and confirm the procedure with the competent authority.

Unofficial English translation

This Law aims to create a competitive investment environment to attract capital and to benefit from various expertise and specialisations, in order to expand the production base with the aim of increasing employment opportunities and raising economic growth rates, in a manner that reflects positively on increasing national income, leading to comprehensive and sustainable development.

Exact Arabic original

يهدف هذا القانون إلى إيجاد بيئة استثمارية تنافسية لجذب رؤوس الأموال، والاستفادة من الخبرات والتخصصات المختلفة، لتوسيع قاعدة الإنتاج بهدف زيادة فرص العمل ورفع معدلات النمو الاقتصادي بما ينعكس إيجاباً على زيادة الدخل القومي وصولاً إلى تنمية شاملة ومستدامة.

Investment Law No. 18 of 2021 — Art. 2 · Source (opens in new tab) · Review: 11 Oct 2026

SERNETRA

Investing in Syria

A Foreign Investor's Guide to the Investment Law (2026)

Edition
2026 guide
Review
11 October 2026
Scope
Selected provisions

Chapter 2

Instruments and definitions

The instruments below are listed by date. Check the current version with the competent authority.

Unofficial English translation

In applying the provisions of this Decree, the following words and expressions shall have the meaning set out next to each:

Investor: the natural or legal person, Syrian or non-Syrian, who invests in the territory of the Syrian Arab Republic in accordance with the provisions of this Decree.

Exact Arabic original

يقصد بالكلمات والعبارات في معرض تطبيق أحكام هذا المرسوم المعنى المبين بجانب كل منها:

المستثمر: الشخص الطبيعي أو الاعتباري، السوري أو غير السوري، الذي يستثمر في أراضي الجمهورية العربية السورية وفقاً لأحكام هذا المرسوم.

Decree No. 114 of 2025 — Art. 1 / تعريف المستثمر · replaces Art. 1 of Law No. 18 of 2021 · Source (opens in new tab) · Review: 11 Oct 2026

Chapter 2

Instruments

  1. 2021Law No. 18 of 2021Base text (FAOLEX copy)
  2. 2023Law No. 2 of 2023Amendment (NATLEX copy)
  3. 24 Jun 2025Decree No. 114 of 2025Announced by SANA 9 Jul 2025
  4. 4 Nov 2025Decision No. 1 (instructions)Announced by SANA 16 Nov 2025

Chapter 3

Licensing and institutions

The licence definition below is quoted from the decree. Ask each body directly about its role in your case.

Unofficial English translation

In applying the provisions of this Decree, the following words and expressions shall have the meaning set out next to each:

Investment licence: a document granted by the Authority after studying the investor’s application and obtaining all licences and approvals necessary to commence implementation from all relevant authorities.

Exact Arabic original

يقصد بالكلمات والعبارات في معرض تطبيق أحكام هذا المرسوم المعنى المبين بجانب كل منها:

إجازة الاستثمار: وثيقة تمنحها الهيئة بعد دراسة طلب المستثمر واستصدار جميع التراخيص والموافقات اللازمة للمباشرة بالتنفيذ من جميع الجهات المعنية.

Decree No. 114 of 2025 — Art. 1 / تعريف إجازة الاستثمار · replaces Art. 1 of Law No. 18 of 2021 · Source (opens in new tab) · Review: 11 Oct 2026

Chapter 3

Who to ask

Syrian Investment Authority

Ask about licence applications, required documents and timelines.

Syrian Sovereign Fund (site description)

Its official website describes its purpose as “managing and investing state assets efficiently to achieve sustainable returns” (website description, not a statutory text). Ask about partnership channels.

Chapter 4

Guarantees and your questions

Two guarantees are quoted below with paragraph B. The checklist is editorial: questions, not rules.

Unofficial English translation

A- Investment guarantees:

Precautionary attachment may not be imposed on the project, nor may it be placed under receivership, except by virtue of a judicial decision.

B- The guarantees provided for in paragraph /A/ of this Article cover all project types, including those implemented under the (BOT, BOO or PPP) system.

Exact Arabic original

أ- ضمانات الاستثمار:

عدم جواز إلقاء الحجز الاحتياطي على المشروع أو فرض الحراسة عليه إلا بموجب قرار قضائي.

ب- تشمل الضمانات المنصوص عليها في الفقرة /أ/ من هذه المادة جميع أنماط المشاريع بما فيها تلك المنفذة بنظام (BOT أو BOO أو PPP).

Decree No. 114 of 2025 — Art. 2 / أ-١ · replaces Art. 5 of Law No. 18 of 2021 · Source (opens in new tab) · Para. B (opens in new tab) · Review: 11 Oct 2026

Unofficial English translation

A- Investment guarantees:

The investment licence may not be cancelled except after warning the investor of the violations attributed to them concerning the project and granting them a period of six months to remove the violation, starting from the day following their notification of the warning. The cancellation decision shall be reasoned and shall be subject to appeal before the competent judiciary in accordance with the rules and time limits established in this regard, and lawsuits filed in this respect shall have urgent status.

B- The guarantees provided for in paragraph /A/ of this Article cover all project types, including those implemented under the (BOT, BOO or PPP) system.

Exact Arabic original

أ- ضمانات الاستثمار:

عدم إلغاء إجازة الاستثمار إلا بعد إنذار المستثمر بالمخالفات المنسوبة إليه التي تخص المشروع وإعطائه مهلة ستة أشهر لإزالة المخالفة، تبدأ من اليوم التالي لتبلّغه الإنذار، ويكون قرار الإلغاء معللاً، ويخضع للطعن أمام القضاء المختص وفق الأصول والمواعيد المقررة في هذا الشأن، ويكون للدعاوى المقامة بهذا الخصوص صفة الاستعجال.

ب- تشمل الضمانات المنصوص عليها في الفقرة /أ/ من هذه المادة جميع أنماط المشاريع بما فيها تلك المنفذة بنظام (BOT أو BOO أو PPP).

Decree No. 114 of 2025 — Art. 2 / أ-٥ · replaces Art. 5 of Law No. 18 of 2021 · Source (opens in new tab) · Lead-in (opens in new tab) · Para. B (opens in new tab) · Review: 11 Oct 2026

Chapter 4

Questions to verify

  1. Which registration applies to my entity?
  2. Which sector approvals are needed?
  3. Am I eligible, and in what ownership form?
  4. What are the banking and foreign-exchange arrangements?
  5. What applies to land use or acquisition?
  6. Which incentives, if any, apply — and under which text?

Chapter 5

Planning entry: an illustrative case

Editorial illustration, not a statute. A fictional foreign company plans its entry into the Syrian market.

Each step is a question to verify with the competent body. The dispute-settlement provision is quoted as a documentary reference.

Fictional illustration — not legal advice.

Unofficial English translation

Investment disputes arising from the application of the provisions of this Decree shall be settled by the following methods: A- Amicable methods (conciliation and mediation). B- Arbitration in accordance with applicable laws and relevant international agreements. C- The competent judiciary.

Exact Arabic original

تتم تسوية المنازعات الاستثمارية الناشئة عن تطبيق أحكام هذا المرسوم، وفق الطرق الآتية: أ- الطرق الودية (التوفيق والوساطة). ب- التحكيم وفق القوانين النافذة والاتفاقيات الدولية ذات الصلة. ج- القضاء المختص.

Decree No. 114 of 2025 — Art. 15 · replaces Art. 33 of Law No. 18 of 2021 · Source (opens in new tab) · Review: 11 Oct 2026

Chapter 5

Illustrative case

  1. 1Define the activity and site
  2. 2Ask the Syrian Investment Authority about project eligibility and the licence route
  3. 3Verify company registration and sector permissions
  4. 4Verify banking, foreign-exchange and incentive conditions before deciding

Editorial illustration, not a statute.

Chapter 6

Sources and next steps

Sources below are identified copies reviewed on 11 October 2026. This is not a claim that the full current framework was verified.

SERNETRA offers market-entry and operating support only.

Chapter 6

Sources

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