The Constitutional Council on Monday abrogated the controversial Article 49 of the 2018 budget law based on the challenge submitted by Kataeb leader Samy Gemayel along with nine other lawmakers.
This decision serves the nation's best interest, one of the council members told New TV.
The Deputy Head of the Constitutional Council, Judge Tarek Ziadeh, said that the Article 49 has been annulled along with six other clauses that shouldn't have been included in the budget law given that it applies for a one-year period.
The council also made a stern remark regarding the failure to finalize the audit of previous years' accounts before approving the budget, as stipulated by the Constitution.
At the end of April, the Constitutional Council suspended the Article 49 of the 2018 budget law based on an appeal submitted by Gemayel.
The challenge opposed the clause which grants foreign nationals a Lebanese residency once they buy an apartment in the country.
Although the version of the article published in the official Gazette does not clearly categorize the granted residency as either "temporary" or "permanent", it has instead linked the validity of the residency to the property ownership period.