| LLC | JSC | Free Zone Company | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | LLC | Shirka Mushtarika | Sharakah dhat masyuwlih mahduduh | Maktab firei | Maktab tamthiliin |
| Company Setup Time | 3 months | 3 months | 3 months | 3 months | 3 months |
| Bank Account Opening | 15 days | 15 days | 15 days | 15 days | 15 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Libyan Limited Liability Company (LLC)
- An LLC can be established with one director and one shareholder. If the company is wholly foreign owned the director must be a Libyan national.
- Before incorporating the company, it is necessary to lease office space in Libya.
Libyan Joint Stock Company (JSC)
- A JSC allows non-Libyans to own up to 49% of the stake in the organization. However, it is possible to get the approval, to own up to 60% of stake in the company.
- A JSC must have at least ten shareholders, none of whom may hold more than 10% of the shares of the Company. Minimum capital required to incorporate this type of entity is USD 730,000. Finally, it is necessary to appoint at least one Libyan national as chairman of the board of directors.
Libya Branch
- International companies interested in establishing a branch office must appoint a director, resident in Libya, to deposit a minimum capital of USD 184,000 to a Libyan bank before starting operations.
- A branch office can only conduct certain economic activities related to oil and gas exploration, industrial activities, planning and surveying , civil work contracts, telecommunication and information technology, environmental protection and electricity related activities.
Libya Representative Office
- This type of entity is not allowed to engage in any direct commercial or profit-making activity in Libya. A representative office can conduct market surveys / research and data collection and facilitate contracts between parent companies and third parties.