Tripoli - 15/12/2017

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Setting up a branch office in Libya

Libyan law requires that all companies formed in Libya must be Libyan controlled. Foreign companies operating in Libya tend to operate through a branch or a branch of a subsidiary. A foreign company must register its branch with the Secretariat of Economy and Trade and International Co-operation. Details required to effect registration are included at the end of this page. Once registration is completed a five year renewable business licence is issued. An application for the registration of a branch can only be made after a number of procedures have been compiled with. These would include:

1)Preparation and submission of various documents and resolutions as detailed at the end of this page.
2)Remittance of Foreign Currency equivalent of LYD 70,000 (approximately USD 55,000) to fund the Branch capital.

After compliance with the above, an application has to be submitted to the appropriate Secretariat. The application together with the supporting documentation would be first checked by the Secretary of the Registration Committee of the Secretariat. The application may well be rejected if the documents are not prepared in the prescribed format. If the application is approved a business licence will be issued. This process may take anything from three to six month. If the application is refused, reasons for the refusal will be given.

Documentation Formats & Preparation

Particular attention needs to be paid in the preparation of the documents for registration purposes. All documents must be:

Endorsed by competent authorities in the country issuing the documents and by the Libyan Embassy (Libyan People's Bureau) in that country. They must be original, carbon copies or photocopies are not acceptable unless they bear an original endorsement of the competent authorities.
Translation into Arabic by a recognised translator. Translations, which originate outside Libya, must carry an endorsement of the official authorities and the Libyan People's Bureau.

The documents which are required to accompany the application form must be sorted into the groupings as shown by the list of requirements and attached to the application form in the same order. Documents should be filled in order that may be read from right to left and the Arabic translations must be placed on to of the original documents. Both the Arabic and original documents must be notarised and stamped by the Libyan People's Bureau in the country of origin. An application which fails to comply with the rules and procedures is not considered valid.

 

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