How to incorporate a company in Libya

1. Prior to incorporating the Libyan company, Healy Consultants expects Clients to i) settle the engagement fees ii) sign and return the Client engagement letter and iii) provide all the required due diligence documents;
2. Healy Consultants drafts a detailed engagement project plan mapping out every step to project completion in order to optimize transparency and set the Client’s expectations;
3. Healy Consultants Libya Incorporation Team works with a local notary to complete the name reservation application which is submitted to the Company Registry at the Ministry of Economy;
4. Next, Healy Consultants and our Client agree on the company’s corporate structure. Thereafter, Healy Consultants works with the notary to draft the Memorandum and Articles of Association for the entity;
5. Our International Banking Team now proceeds to open a provisional corporate bank account with a local commercial bank. After the account is opened, our Client deposits the required minimum capital into the account and obtains a certificate of deposit;
6. Thereafter, Healy Consultants Incorporation Team presents i) the name reservation certificate ii) shareholder due diligence iii) certificate of capital deposit and iv) company documents to the Office of Tax Department for verification and certification;
7. Next, our team submits the stamped company incorporation documents to the Company Registry at the Ministry of Economy. The certificate of registration is issued, using which Healy Consultants registers the company with the Chamber of Commerce;
8. Healy Consultants International Banking Team assists our Client with activating the temporary bank account. For this purpose, Healy Consultants submits i) the company incorporation forms and ii) the signed bank account opening forms to the bank officer;
9. Next, our team i) secures an operations license from the Office of Operations license of the Ministry of Economy and ii) obtains a company stamp;
10. Following successful incorporation of the Libyan company, Healy Consultants will courier, to our Client’s preferred international address, the complete company kit including i) original corporate documents ii) an unopened bank correspondence and iii) Client engagement feedback survey.