Aoun Urges Reevaluation of Article 49, Gemayel Appeals Before Constitutional Council

إقرأ هذا الخبر بالعربية W460

President Michel Aoun has asked the Parliament to reevaluate a state budget article which stipulates granting residence permits to every Arab or foreign who buys a housing unit in Lebanon, the National News Agency reported on Tuesday.

NNA said Aoun has sent a letter to Parliament, through its Speaker Nabih Berri, urging “reconsideration of Article 49 of the state budget regarding residence permits for each Arab or foreigner who buys an apartment in Lebanon.”

Several political parties have warned over the Article urging its revocation.

Aoun’s move came after the Kataeb party chief, MP Sami Gemayel, lodged an appeal Tuesday before the Constitutional Council to challenge the 2018 state budget law and its controversial Article 49.

The motion bears the signature of nine other lawmakers. They are: Nadim Gemayel, Samer Saade, Elie Marouni, Fadi Habr, Serge Tor Sarkissian, Gilberte Zouein, Joseph Khalil, Dori Chamoun, and Elie Aoun.

"The goal behind the appeal is to stop a mistake that has been made and to put the country's finances back on track," the Kataeb leader said to reporters.

"The Constitutional Council is now before a chance to restore public financial order and to restore to the Parliament its role of monitor," he added.

Article 49 of the budget allows foreigners buying property in Lebanon to be granted temporary residency.

SourceNaharnet
Comments 3
Thumb lebanon_first 24 April 2018, 19:34

300,000$???

Ridiculous.

They should put the limit at 2million. $. This way we ll get the truly rich arabs, which is ok, since they'll probably spend lots of money here, absorb our big property glut, and they have anyways other houses elsewhere.

They can invest the 300k in syria.

Thumb lebanon_first 24 April 2018, 19:36

Wizzar.

Secondary homes in excess of 6million rental value are already taxed at progressive rates.

Thumb lebanon_first 25 April 2018, 07:19

Wizzaghar.

It is a yearly tax. Progressive from 4 to 14% of the value. To be paid every year. Wether u use or rent the property.