(The following information was supplied by the firm)
Itkan Law is an independent law firm established in Tripoli, Libya, in 2005. The firm brings together some of the most experienced legal practitioners and scholars in Libya. In addition to our head offices in Tripoli, we have just launched our first regional office in Benghazi in July 2020.
Founded by Mr Albudery Shariha, whose former posts include partner at Clyde and Co. between 2012 and 2016, and General Counsel at the Libyan Investment Authority (LIA) since 2007. Albudery has nurtured an extensive network of regional and international affiliates, offering expert legal advice and professional services to multinational corporate client and international governments on a broad range of complex cross-jurisdictional matters arising under Libyan law.
We cooperate with several national and international networks of affiliated legal professionals; with access to extensive strategic and operational resources. Our team has considerable experience working with leading multinational law firms on cross jurisdictional cases concerning both private and state entities in Libya. We have been appointed by various government legal departments as legal experts on high profile cases regarding Libyan jurisdiction. We are also members of the advisory board to the Libyan Centre for international Commercial Arbitration.
Our team hails from all of Libya’s regions. Our barristers, lawyers and consultants have over 200 years of combined legal experience, including a former supreme court justice and director of public prosecution. Our partners are admitted before all courts of law in the State of Libya, including the Court of Appeal and the Supreme Court. Our client base includes Fortune500 companies, Silicon Valley heavyweights, State Legal departments of G20 nations, and other corporate clients from around the world.
The team is active in academic and humanitarian fields, whether contributing to reputable publications such as the Bloomberg International Tax Guide and LexisNexis MENA Business Law Review, or supporting EU efforts to tackle human trafficking and illegal migration in Libya, among various other noteworthy initiatives. The team has previously worked with the Cyrus R. Vance Centre for International Justice and Clifford Chance on the Vance Centre Environment Programme. This was a comprehensive research programme on the Right to a Healthy Environment with the UN Special Rapporteur on Human Rights and the Environment.
Partners : 3
Consultants : 5
Associates : 2
Junior Associates : 1
Paralegals : 1
Chairman & Founding Partner
Mr Albudery Shariha
General Business Law
Contrary to the slogans that the official authorities keep announcing, recent developments appear to show that Libya is not yet ready for foreign investment. Although, on paper, Libya’s legal framework is remarkably open to foreign investment, the reality on the ground can be quite different. This is evidenced by the Ministry of Economy’s slow-walking of […]
On 13 October 2022, the Libyan Minister of Economy issued Decree No. 944 of 2022 (“Decree No. 944”), which has repealed the prior regulatory regime applicable to the so-called “Commercial Law Regime” for doing business in Libya and provides some significant advantages for non-Libyan entities. For example, it raises the permissible level of foreign ownership […]
The Provisions of Law No. 9 of 2010 on Promoting Investment Analysis of the Foreigners’ Right to Invest in Libya Legal questions This article sheds light on several legal questions raised concerning the right of foreigners to invest in Libya, aiming to provide answers for them and analyse how Law No.9 of 2010 on […]
On Tuesday, July 7, Libyan Prime Minister Abdul Hamid Dbeibeh signed Decree 642/2022, which removed from office with immediate effect the entire board of directors of the National Oil Corporation (“NOC”) – including long-time NOC Chairman Mustafa Sanalla. Former Libyan Central Bank Chairman Farhat Bengdara was appointed as Mr. Sanalla’s replacement. Mr. Sanalla is resisting […]
An Overview of Law No.1 of 2013 Regarding the Prohibition of Interest-Based Transactions In Libya There is no dispute on the inviolability of riba “usury” and no opposition to the enactment of a Law prohibiting usury, if on professional and practical terms. The ongoing discussions regarding the application of the Law have become a real […]
Regulations Governing the Recruitment of Foreigners in Libya. Article (9) of Law No. (12) of 2010 on Labour Relations “the Labour Law” ex… Regulations Governing the Recruitment of Foreigners in Libya. Article (9) of Law No. (12) of 2010 on Labour Relations “the Labour Law” expressly states that: “Non-nationals may not practice any work before […]
List of 7 business types you can do in Libya. The requirements on foreign companies present a number of obstructions to their freedom of … 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 […]
In a recent development, the Ministry of Labour issued Resolution No (392), stipulating new criteria and conditions relating to the employment of foreigners in Libya, whether by foreign or national companies. Furthermore, the Social Security Funds issued circular delineating deductions on workers’ salaries considering recent legislation. For further information on both developments, please visit our blog
As part of the Libyan government’s plan to move forward towards establishing e-government, the Ministry of Economy (MoE) has begun to digitise its databases. As a result, the MoE issued several resolutions in the last quarter of 2021. Most of the said resolutions set the scene for converting the data in traditional files to an […]
Our overall conclusion is that the new draft Companies Law has addressed various anomalies that existed under the prevailing legal framework ibya: FDI In Libya: The Way. We note that the Libyan government is planning to introduce many new laws over the coming few months. One of the most important of which will be the new […]
As the only international law firm operating in Libya, we fully understand and appreciate that we work in an environment in which diverge… FDI laws in Libya, In short, Decree 207 states that non-Libyans can only hold up to 49% in a company in Libya. However, the Investment Law provides that under certain circumstances (e.g. […]
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. Three key pieces of legislation are the 1954 Civil Code, the […]
Itkan Law is delighted to announce its recognition by Chambers and Partners as one of the leading law firms in Libya in the Global Guide 2022.