The Libyan economy depends primarily upon revenue from the oil sector, which contributes about 95% of export earnings, 25% of GDP and 80% of government revenue. Libyan oil and gas licensing rounds continues to draw high international interest: the National Oil Corporation set a goal of nearly doubling oil production by 2012. The non-oil manufacturing and construction sectors which account for nearly 20% of GDP have expanded from processing mostly agricultural products to include the production of petrochemicals, iron, steel and aluminium. Tourism is on the rise bringing increased demand for hotel accommodation and for capacity at airports such as the capital Tripoli. As a result the government have approved multi-million dollar improvement plans.
As a result international companies are increasingly looking at Libya as a place to pitch their services. When providing services in Libya they will either have to relocate their own staff or source international contractors. It is very difficult to start a company in Libya as a foreign owned enterprise and as such if these companies wish to relocate their staff or source international contractors they will require a locally based Contractor Management Company to provide a full employed local solution for their employees. This will entail Libyan Permits and local Libyan payroll.
As an individual, working in Libya can be a highly rewarding experience, an opportunity to experience living in the Middle East, high earning rates and paying very low rates of income tax! Our services in Libya include:
- Tax, Payroll and Employment Solutions for Clients and Individual Contractors
- Sponsored Work Permits for Clients / Contractors/ Freelance Workers
- Salary Packaging
- Self-Employed / Pty Ltd Companies
- Immigration Lawyers
- Expatriate Tax specialists
- Insurance (Private Health / Travel / Professional Indemnity)
- Bank Account Opening
You can reach all our resources for Libya from this page.
Great advice and excellent service on contracting and immigration solutions in the UK. I would highly recommend Tim and the team to assist you with accurate, clear and concise contracting advice in the UK or any other country for that matter.
I utilized PEO services with Contractor Taxation & have found the services invaluable. We had to quickly establish a presence in China to meet a perceived large market, knowing how difficult it could be setting up a complete operation there. CT helped us immensely to navigate these waters and establish this beachhead without a lot of the normal distractions associated w/opening a full operation. This allowed us to focus on our client’s expectations and keep us moving forward in the market.