List of 7 business types you can do in Libya. The requirements on foreign companies present a number of obstructions to their freedom of operation. Thus, this advisory opinion highlights the legal framework pertinent to Libyan market accessibility, and the appropriate legal form and business organisation, by foreign investors under Libyan laws and jurisdiction.<\/p>\n\n\n\n
Three key pieces of legislation are the 1954 Civil Code, the 1953 Code of Civil and Commercial Procedure, and the 2010 Commercial Code. In addition, there are numerous decrees from the Ghaddafi era regulating various aspects of the economy. In the past, these conflicting and opaque decrees have made it challenging for both foreign investors and local Libyan businessmen to navigate the Libyan legal system. Attempting to put Ghaddafi\u2019s era behind, Libya is trying to focus on providing a more stable environment that will encourage foreign inward investment. The principal way in which it is doing this is by improving its legislation; a process that has begun, but one that will likely take some considerable time to complete.<\/p>\n\n\n\n
In 2012, the structure of foreign businesses was reviewed, due to the 2011 revolution that ended Ghaddafi\u2019s regime, by the new Libyan Ministry of Economy, and Decree No. (207) of 2012 \u2018Regarding the Foreign Participation in Companies, Branches and Representative Office for Foreign Companies in Libya\u2019 was passed. Currently, there are attempts towards encouraging investments in Libya<\/a>. Therefore, some of the current regulations are under consideration by the Ministry of Economy and the Council of Ministries.<\/p>\n\n\n\n ESTABLISHING A PRESENCE IN LIBYA <\/u><\/strong><\/p>\n\n\n\n For a new foreign entrant to establish themselves in the Libyan market, they are required to either obtain an Investment License, where such an establishment will be registered in the Company House or to obtain a Commercial License where such an establishment will be overseen by the Ministry of Economy. Foreign companies operating in Libya tend to obtain a Commercial License in order to operate through one of the following options:<\/p>\n\n\n\n (1) Joint-Stock Company; (2) Branch for the Foreign Company; (3) Representative Office; (4) Commercial Agent, (5) Investment Funds; (6) Free Zones Trade; (7) Foreign Capital Investment, as detailed below.<\/p>\n\n\n\n Table of Contents<\/p>\n<\/span><\/div>\nBusiness types you can do in Libya<\/h3>\n\n\n\n