Libya

 Libya f

Official Name: Libya 

              Tripoli

         Arabic

           Libyan dinar

Libya g

OUR SERVICES;                      

  • Consultation (in person, online, phone)
  • Helping to prepare your documents
  • Start to finish your company registration process
  • Immigration services

Libya

Libya is located in North Africa, south of the Mediterranean Sea, bordered by Egypt to the east, Sudan, Chad and Niger to the south, and Algeria and Tunisia to the west. It also has a 1,770 km long coastline.
With an area of ​​1,759,541 square kilometers, Libya is the 16th largest country in the world and the fourth largest country in Africa, with a population of 6,911,000 and the 108th most populous country in the world. About 90% of Libya is covered by deserts and grassless deserts. Libya’s relatively green areas are located on the shores of the Mediterranean Sea.
In terms of underground reserves, Libya has the largest oil reserves in Africa and one of the top 10 oil exporters in the world, and its per capita GDP is among the highest in Africa. More than one million people work in the Libyan oil industry.
Libya’s exports include crude oil, processed petrochemicals, natural gas and chemicals, which are exported to Italy, Germany, Spain, the United States, France and Turkey. Products such as machinery, consumer goods and transportation equipment are also imported from Italy, Germany, China, Tunisia, France, Turkey, the United States, South Korea and the United Kingdom.

General Questions 

What is the best type of company to operate?
Joint stockcompany (Shirkamushtarika)

How much is a corporate tax in Libya?
20%

How much is VAT in Libya?
0%

How much does it cost to register a company in Libya?
$ 30000 USD

What is the minimum capital required to register a company?
$ 216000 USD

Do company executives should travel to Libya to complete the company registration?
No need.

How long does it take to register a company?
6 months

Is it necessary to have an office physically to register a company?
Yes.

The benefit of company registration in Libya

  • Company registration is 100% free for foreigners.
  • Allow foreign companies to operate in most economic fields
  • High government incentives for foreign investment
  • Libya’s tax cut agreement with Britain, India, Italy, Malta, Pakistan, Tunisia, France, Russia, Belarus and Ukraine
  • Libya access to other countries by sea and land
  • VAT exemption for goods
  • Libya has vast reserves of natural resources in natural gas, oil and gypsum.

The disadvantage of company registration in Libya 

  • Bureaucracy and corruption
  • The shares of a foreign company can be up to 65%.
  • All company documents must be translated into Arabic, so the company registration process is costly and time consuming.
  • Libya’s most lucrative markets, such as communications, finance, retail and wholesale, are closed to foreign companies unless they have a Libyan partner.
  • Long administrative process for hiring a foreign employee

Type of company registration

Limited Liability Company (LLC)
Joint Stock Company (JSC)
Branch Office
Representative Office

The company registration process

  • Submit the company registration form
  • Specify the name of the company and receive confirmation from the business register
  • Preparation and adjustment of the company’s articles of association, including the specified name of the company, determination of the type of activity, names of shareholders and the amount of shares, names of the director, address and telephone
  • Opening a company bank account and depositing the initial capital of the company
  • Preparation of company seals and letterheads
  • Company registration
  • Obtaining the necessary permits for specific activities
  • File with the tax office and receive a tax code
  • File a case with the Social Security Administration