Wealth management in Lebanon

“Alexis, I have property in Beirut and family in France. Since the crisis, nobody gives me a clear answer any more. I would at least like to know what the law says.”

Lebanon has 19,682 French nationals on the consular register at 31 December 2025, a change of −3.29% over one year.

Since 2019, the Lebanese financial context has been a first-order constraint: access to assets deposited locally remains restricted, and this reality overrides any optimisation consideration. We say so from the outset because it is what shapes the files we see.

That said, the France–Lebanon legal framework exists and is more protective than people think: the treaty of 24 July 1962 covers both income tax and inheritance tax. At Balmont Conseil, we start from this text, and for everything else we reason outside the local banking system.

1. Why seek expert wealth management in Lebanon?

Three realities, in the order in which they come into play.

• The liquidity constraint. Assets deposited in Lebanon cannot be treated as available in a wealth strategy. Any serious planning treats them as a claim with an uncertain outcome, and is built on the assets actually available.
• The 1962 estate tax treaty. It exists, it is in force, and it contains a clear connecting rule for intangible assets. This is a rare foothold for a destination outside Europe.
• Lebanese real estate. It is often the bulk of local wealth, and the only asset whose value does not depend on the banking system. Passing it on is governed by the treaty and by local law.
• French assets kept. For many of our Franco-Lebanese clients, it has become the foundation of the file. It is managed and passed on under French rules, which need to be known precisely.

2. The France ↔ Lebanon framework in five verified points

Here is the applicable framework, checked against the text of the treaty itself and official sources as at 15 September 2026.

The connecting rule for intangible assets is the strong point of this treaty. It allocates taxation to the State of residence of the deceased, which avoids fragmentation and double taxation of receivables, securities and company shares. For mainly financial wealth, this rule is decisive.

The convention takes precedence over article 750 ter of the general tax code. Its third provision would make taxable in France all assets received by an heir domiciled in France for at least six of the last ten years. The convention excludes this rule for assets it allocates to Lebanon, even if the heir lives in France; Article 750 ter is then used only to calculate the rate applied to assets retained by France (Article 34 of the convention).

What we do not show. The exact state of Lebanese tax and banking law, and the actual terms of access to assets deposited locally, are not shown in this table: we have not verified them in an up-to-date primary source, and the subject is changing. They are handled with a licensed adviser in Lebanon.

3. Succession between France and Lebanon: who taxes what

The convention of July 24, 1962, allocates the right to tax an inheritance between the two countries, asset by asset (Chapter II, Articles 27 to 36). It applies to the death of a person resident in one of the two States.

• Buildings : taxed only in the country where they are located (article 28). The apartment in Paris falls under French jurisdiction, the one in Beirut under Lebanese jurisdiction.
• Business and private practice : taxed where the establishment or installation is located (articles 29 and 30).
• Tangible furniture : taxed where they are on the day of death (article 31).
• Everything else — accounts, securities portfolio, shares of capital companies, receivables: taxed only in the country of which the deceased was resident at the time of death (Article 32 and Article 29 § 2).

Two rules then change the calculation.

The average rate. France taxes assets that revert to it at the average rate it would apply to all taxable assets under its own law (Article 34). This is where Article 750 ter of the General Tax Code comes into play: if the heir has lived in France for at least six of the last ten years, assets located in Lebanon are included in the calculation of the tax rate, but not in the taxable base.

Gifts are not covered. Article 27 § 5 excludes gifts inter vivos. A gift made from Lebanon to a child residing in France falls under French law alone, including for securities which, if transferred upon death, would only have been taxable in Lebanon.

The deceased's residence influences the allocation of titles. In the case of dual residence, the convention considers the center of vital interests, then the country of the longest stay (Article 2). A kept apartment in Paris and extended stays in France are sufficient to open the discussion. We will document this point first.

We then calculate the French tax burden based on each heir's place of residence, as part of our wealth engineering. Lebanese tax and civil law matters are handled with a qualified lawyer in Lebanon.

4. Typical case: a father in Beirut, a son in Lyon

Typical illustrative case, rounded figures.

Situation. A French-Lebanese father has lived in Beirut for twenty years. He owns an apartment in Paris (€900,000), a portfolio of listed French stocks held by a Parisian bank (€600,000), and an apartment in Beirut (€300,000). His only son has lived in France for fifteen years.

Issue. The son reads article 750 ter of the French General Tax Code (CGI) on his own: since he lives in France, everything would be taxable in France, amounting to approximately €533,000 in inheritance tax after the €100,000 allowance. To "ease" the inheritance burden, his father is considering giving him the portfolio now.

Strategy. We are applying the convention. The Beirut apartment falls under Lebanese jurisdiction (Article 28). The portfolio falls under the sole jurisdiction of the father's country of residence, Lebanon (Article 32). France retains only the Paris apartment, taxed at the average rate calculated on the €1.8 million that its domestic law would have targeted: 29.6% (Article 34). We advise against the gift: outside the convention (Article 27 § 5), it would incur approximately €98,000 in French inheritance tax on securities that France would not tax upon death. Finally, we are gathering evidence of the father's Lebanese residence (Article 2).

Result. French taxes: approximately €266,000 instead of €533,000, and €98,000 in gift tax avoided. The potential Lebanese tax on the portfolio and the Beirut apartment has been calculated by an advisor in Lebanon.

5. Retirement and healthcare in Lebanon: without a social security agreement

France has not signed any social security agreement with Lebanon (CLEISS list). Israel has one; the UAE and the Jordan They don't have any. Specifically:

• If you work in Lebanon, You fall under the local pension scheme. Your years in Lebanon do not count towards your French pension rate. You can, however, make additional voluntary contributions to the French Overseas Pension Fund (Caisse des Français de l'étranger).
• If you retire there, No French health insurance fund will cover your medical care while you are there. However, with a pension from a French basic scheme and at least 15 years of insurance coverage in France, you will remain covered during your temporary stays in France.
• Your pensions A private pension is taxable only in Lebanon (Article 18 of the convention); a public pension remains taxable in France (Article 20). As a non-resident, you do not pay CSG or CRDS on your pensions; however, a health insurance contribution may be deducted.
• Your French rents remain taxed in France (article 9): minimum rate of 20 % up to €29,579 and 30 % above (article 197 A of the CGI), unless opting for the average rate, plus 17.2 % of social levies (18.6 % for furnished).

Health insurance coverage is therefore arranged separately: CFE (French Health Insurance for French Nationals Abroad), international health insurance, or both, which we compare as a broker. For your investments in France, see investing in France from abroad ; for your existing contracts, a free x-ray. The other countries in the region: Middle East.

Frequently asked questions: Lebanon

Is there an estate tax treaty between France and Lebanon?

Yes. The treaty of 24 July 1962 covers, according to its title, taxes on income and taxes on inheritance. It contains a chapter dedicated to the latter.

This is a more favourable situation than in most of our destinations outside Europe, where no treaty governs inheritance.

How are my financial assets treated upon my death?

The treaty provides that intangible assets to which its specific articles do not apply are subject to inheritance tax only in the State in which the deceased was resident. This rule avoids fragmentation and double taxation.

It applies even if your heirs live in France: article 750 ter of the general tax code is then only used to calculate the rate applied to the assets that France keeps (article 34 of the convention).

What should I do with assets frozen in a Lebanese bank?

We treat them as a claim with an uncertain outcome: recorded in your assets, documented, monitored, but excluded from any strategy that would assume their availability.

We will not promise you a recovery solution, and we urge the utmost caution towards those who do. Our role is to build what can be built on the assets that are actually available.

Can I hold a European assurance-vie policy from Lebanon?

The question has a tax side and a regulatory side, both governed by Lebanese law and to be checked with a licensed adviser locally.

In France and Luxembourg, a contract under the freedom to provide services falls under a European prudential framework distinct from the Lebanese banking system. It is this separation that motivates the interest of our Franco-Lebanese clients in this type of product.

Will I pay CSG on my French income?

On your rental income from unfurnished properties and capital gains from French-sourced real estate, yes: 17.2% of the % tax is levied (18.6% of the % tax is levied on furnished rental income). On your pensions, no: non-residents do not pay CSG or CRDS contributions. The exemption applies to members of a pension scheme in the European Economic Area, Switzerland, or the United Kingdom.

Furthermore, there is no bilateral social security agreement between France and Lebanon, which also has consequences for the coordination of your pension rights.

My child lives in France: will he/she pay inheritance tax in France on my assets in Lebanon?

If you were a resident of Lebanon at the time of your death, no. Your assets in Lebanon, as well as your accounts and securities, including those in France, remain under Lebanese jurisdiction (Articles 28 and 32 of the Convention). France essentially only retains tax on your real estate located in France. However, it taxes these assets at the average rate calculated on all assets that would be subject to its domestic law (Article 34). Therefore, your child's presence in France increases the tax rate, without broadening the tax base.

Can I make a gift to my children in France by applying the convention?

No. The 1962 convention excludes gifts made during your lifetime (Article 27 § 5). A gift to a child domiciled in France is governed solely by French law (Article 750 ter of the French General Tax Code), including the applicable tax brackets and the €100,000 allowance per parent. Securities that, upon your death, would only be taxable in Lebanon may therefore be taxed in France if they are given during your lifetime. Calculate the implications before signing.

Is my French pension taxed in France if I live in Lebanon?

A private pension is taxable only in Lebanon (Article 18 of the convention). A public pension (civil servant, local authority) remains taxable in France (Article 20). As a non-resident for tax purposes, you do not pay CSG or CRDS on your pensions. Health insurance contributions may be deducted if you retain coverage in France. The Lebanese tax on pensions should be verified with an advisor in Lebanon.

In summary

Lebanon presents an unusual configuration: an old but real treaty framework, covering income and inheritance, and a financial context that rules out reasoning as you would elsewhere.

Our belief is that the two must be treated separately — rigorously applying the law where it applies, and building the rest on assets whose availability is not in question.

Firm's fees: €500 incl. VAT per hour. Annual follow-up is free of charge.

Let's review your situation

A thirty-minute conversation is enough to separate what is available from what is not, and to gauge your inheritance exposure. You can also start with a free contract X-ray.

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