Foreigners’ Participation and Foreign Companies’ Branches and Representative Offices in Libya

On 13 October 2022, the Libyan Minister of Economy issued Decree No. 944 of 2022 (“Decree No. 944”), which has repealed the prior regulatory regime applicable to the so-called “Commercial Law Regime” for doing business in Libya and provides some significant advantages for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 in joint companies to 75-89% (from 49% previously) and gives foreigners the right to establish limited liability companies in Libya…

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