Can I do business in Libya?

Can I do business in Libya?

Recently, many foreign companies have been sourcing Libya’s business environment and sectors such as construction, oil and security are beginning to take off. If you do wish to conduct business in the country, you will be required to obtain a business visa.

Can I trade with Libya?

Answer. We can trade with Libya though it is covered by 2 types of export controls.

Can the UK export to Libya?

Export to Libya from the UK UK companies can increase their sales, growth and stability by selling to Libya. Our export guide to Libya provides essential information for new and established exporters.

Is Libya sanctioned?

Why are sanctions imposed? In 2011, the United Nations Security Council (UNSC) imposed sanctions in relation to Libya in response to the violence and use of armed force against civilians in Libya and the systemic violations of human rights by the former Qadhafi regime.

How do I register a company in Libya?

Libya Business Registration – 4 Options (2021)

1. Representative Office. The simplest method is to register as a representative of a foreign company.
2. Branch Office. For those looking for a little more versatility, they may want to register a branch of a foreign company.
3. Mushtaraka Company.
4. Investment Law Company.

What does Libya import?

Imports The top imports of Libya are Refined Petroleum ($1.69B), Rolled Tobacco ($516M), Cars ($405M), Broadcasting Equipment ($262M), and Wheat ($246M), importing mostly from China ($1.88B), Turkey ($1.65B), Italy ($1B), United Arab Emirates ($1B), and Greece ($719M).

Is Libya sanctioned by us?

United States adopted additional economic sanctions against Libya in January 1986, including a total ban on direct import and export trade, commercial contracts, and travel-related activities. In addition, Libyan Government assets in the United States were frozen.

Is Libya OFAC restricted?

The U.S. government does not currently maintain comprehensive sanctions against Libya, Somalia, Sudan, and Yemen; however, certain limited restrictions apply, administered by the U.S. Department of Treasury, Office of Foreign Asset Controls (OFAC). There are serious penalties for violations.

How do I start a business in Libya?

The simplest method is to register as a representative of a foreign company. The paperwork seems to be minimal and requires an investment of at least 150,000 Libyan Dinar. You can legally represent the company with marketing and oversight, however, you may not make any money in Libya.