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Home > Practice areas > Investment > Investment in Libya

Investment in Lybia

 
Libya has a growing reputation for attracting foreign direct investment; this has been consolidated by a legal and structural reforms and moves towards increasing institutional transparency


Our firm advise its clients on Libyan foreign investment law.

We help clients create appropriate legal and fiscal vehicles:  notably representative offices, branches, joint ventures, in accordance with the new Libyan foreign investment law.


 

Libyan Decree n° 103 of the year 2012 on the participation of Foreign Investors in  Joint Ventures,  on Representative Offices, and Branch of Foreign Companies in Libya
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Libya’s Ministry of Economy has issued a new decree allowing foreign companies to enter joint ventures and open a branch or a representative office. Subject to an administrative authorization. It is aimed at reorganizing and facilitating the process of foreign-local partnership.

The decree No. 103 of the year 2012 issued on May 13 is setting out the purposes, conditions and percentages for foreign individuals or companies to set up business in Libya.

It is entitled The Contribution of Foreigners in Joint Ventures and Open Branches and Representative Offices of Foreign Companies and aims at facilitating the process for foreign investors to enter as partners with Libyan local companies.

The decree allows for both foreign individuals and companies to partner with Libyan individuals and Libyan companies according to their activities as registered in their countries of origin.

Similar to the previous regulations, foreign ownership is generally restricted to 65% of the share capital of a Libyan company although approval may be given by the Ministry of Economy to increase the foreign shareholding to 80% on a case by case basis.

The decree demands that foreign companies and individuals help in training the Libyan workforce through annual programs of transferring the know-how of the businesses to Libya and use the available equipment, machinery and raw materials in the local market.

Foreign and local companies or individuals who are working in Libya as joint ventures are required to adopt annual training programs that allow for the eventual replacement of foreign workforce with local workforce.

Foreign investors are allowed to invest in the following sector:  contracting and civil works electricity, oil, industry, survey and planning, communication, environment protection, technical consulting, electricity, environment-related industries, computer services and IT, health-care, air transport.



We offer our clients a wide-ranging solutions which integrate complementary expertise of our firm in libyan general business and company law.. 

Practice areas on Investment in Libya :