Libya

Ease of Doing Business in

Libya

This page summarizes Doing Business 2014 data for Libya. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Middle East & North Africa
Income Category Upper middle income
Population 6,154,623
GNI Per Capita (US$) 12,778
City covered Tripoli
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
187 188 down 1

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
33.83 33.44 down 0.39
 

Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 171 DB 2013 Rank*** 170 Change in Rank down-1
DB 2014 DTF** (% points) 72.57 DB 2013 DTF** (% points) 68.93 Change in DTF** (% points) up3.64

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Libya Middle East & North Africa OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
10 8 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
35.0 19.8 11.1

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
19.1 28.9 3.6

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

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Paid-in Min. Capital (% of income per capita)
31.0 45.4 10.4
No. Procedure Time to Complete Associated Costs
1 Check availabilty of company name 2 days no charge
2 Draft memorandum and articles of association 7 days 1% of the capital of the company or 1,000 LYD, whichever higher
* 3 Open a bank account and deposit paid-in minimum capital 3 days, simultaneous with previous procedure Depends on the bank, but usually free or 5,000 LYD for depositing the capital.
4 Pay Tax Duties 7 days 0.5% of the capital or 25 LYD
5 Apply and obtain registration at the commercial registry 4 days 150 LYD + 0.5% of the start-up capital
6 Registration at the Chamber of Commerce 2 days 162.5 LYD
7 Open a permanent bank account 1 day no charge
8 Obtain an office lease 1 day no charge
9 Obtain the operations license 10 days 100.5 LYD
10 Obtain a company stamp 1 day 20-70 LYD
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

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