Before you start

A residence permit and passport for a resident account
A clear-eyed understanding of what a Lebanese deposit currently is
An account outside Lebanon that you keep as your primary
A safe way to hold and move US dollar cash

Step-by-step

1
Keep your primary account outside Lebanon
This is the single most important financial decision of a move to Beirut. Do not transfer savings into the Lebanese banking system. Whatever the reform process produces, the current position is that money in a Lebanese account is not freely yours to move.
OnlineWho: YouBefore you arriveFree, and it protects everything else
2
Understand the distinction between legacy and fresh funds
Deposits held from before 17 October 2019 are subject to restrictions and are commonly called 'lollars' in local shorthand — dollars on a statement that cannot be withdrawn or transferred as dollars. Post-2019 'fresh' money is treated separately. Ask, of any account or any salary payment, which category it falls into. It is the question that matters.
In personWho: YouBefore opening anythingFree to ask
3
Establish how your salary will actually be paid
Before accepting a job, get in writing: in what currency, into what kind of account, and whether the funds are freely withdrawable and transferable. A dollar-denominated salary paid into a restricted account is not a dollar salary. Many employers pay in cash or into fresh accounts precisely for this reason.
Via employerWho: You, with HRBefore signingFree, and decisive
4
Open a fresh account only if you need one locally
A local account can be useful for receiving a fresh-dollar salary and paying local bills. Bring your residence permit and passport, ask explicitly about the account's status, withdrawal terms and any transfer capability, and get the answers in writing.
In personWho: YouAn hour, plus verificationVerify — fee structures have changed
5
Plan how you will hold and move US dollar cash safely
Rent, the generator, school fees and much else are paid in cash. That means holding meaningful sums of physical currency. Think about a safe, about how you bring money in, and about the security implications of everyone in your building knowing when rent is due.
In personWho: YouFrom arrivalThe cost of doing it safely
6
Follow the reform process rather than assuming it is done
Bank secrecy amendments and a banking sector recovery law passed in 2025, and a bank restructuring law and depositor recovery framework have been moving through the system since. None of that means the position has changed for a depositor today. Check the current state before acting on anything you read.
OnlineWho: YouOngoingFree

Documents you’ll need

Residence permit and passport
Written confirmation from any bank about an account's status and withdrawal terms
Written confirmation from your employer about salary currency and mechanism

Things most newcomers don’t know

There is no capital control law, and that is why the restrictions are so hard to reason about.

Since 2019 access to Lebanese bank deposits has been governed by Banque du Liban circulars rather than legislation, because repeated attempts to pass a formal capital control law have failed in parliament. The result is a de facto regime that is administratively imposed, has changed repeatedly, and does not carry the predictability a statute would. It also means the rules can differ between banks. Ask your specific bank about your specific account, in writing, rather than reasoning from what the law says — because on this point it largely does not say anything.

Source: Banque du Liban circulars; reporting on failed capital control legislation

A dollar salary and a dollar account are two different things here.

'Paid in dollars' can mean cash in hand, a transfer to a fresh post-2019 account, or a credit to a legacy account where the money is subject to withdrawal limits and cannot leave the country. Those are radically different propositions and they look identical on an offer letter. Before accepting any Lebanese job, get the mechanism in writing: currency, account type, withdrawal terms, and whether you can transfer abroad. This is a more important question than the salary figure.

Source: Local employment and banking practice

Keep your savings out. This is the recommendation, and it is not hedged.

Frozen deposits in the Lebanese system have been estimated in the tens of billions of dollars, far exceeding what banks could repay, and a depositor recovery framework is still being legislated rather than implemented. Whatever the eventual outcome, a newcomer has no reason to add to that stock. Keep a primary account abroad, hold only a working balance locally, and treat the Lebanese banking system as a payments utility rather than a place to store value.

Source: IMF and press reporting on Lebanese deposits; ongoing restructuring process

The cash economy has practical consequences beyond convenience.

When rent, the generator subscription, school fees and medical bills are paid in physical dollars, you are holding and moving significant cash routinely. That has security implications, it makes record-keeping harder for your own tax position at home, and it means you cannot rely on card payment as a fallback. Plan for it deliberately — a safe, a discipline about receipts, and thought about how and when you bring money into the country.

Source: Local practice

Common mistakes to avoid

Transferring savings into a Lebanese bank account.
Accepting a 'dollar salary' without establishing which kind of dollars and which kind of account.
Assuming the 2025 reform laws have restored depositor access — they have not, yet.
Reasoning from what the law permits when the restrictions are circular-based rather than statutory.
Underestimating the security and record-keeping implications of a cash life.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.