Libya Geography, Politics, and Culture

Located in the Maghreb region of northern Africa and bordered by the Mediterranean Sea to the north, Libya’s terrain is mostly desert while also being an oil-rich country. Politically, it has more recently been known for the 42-year rule of the dictatorial Colonel Muammar Gaddafi – and the political instability that followed his death.

The Libyan climate is extremely dry with natural hazards such as the hot, dry, dust-laden sirocco (a southern wind blowing from one to four days in spring and fall). The desert covers most of its landscape and there is very little rainfall during the year. Its economy is heavily dependent on the oil sector given that Libya has the largest oil reserves in Africa and is a major contributor to the global supply of light, sweet crude.

It is a large country with a small population (about 50 people per km2) who live mostly in only 10% of the land area. Its three largest cities are Tripoli, Benghazi and Misrata. Its population is made up of Arabic-speaking Muslims of mixed descent, as well as Turkish and Berber ethnicities. There are also Libyan ethnic minorities, such as the Berber Tuareg and the Tebou.

2021
May 1May Day
July 19Day of Arafah
September 16Martyrs’ Day
October 19The Prophet’s Birthday
October 23Liberation Day
December 24Independence Day
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: N/A
  • Income Tax (Lowest Marginal Rate): N/A
  • Income Tax (Highest Marginal Rate): N/A
  • VAT/GST/Sales Tax: N/A
  • Umma Bank (Commercial Bank)
  • Aman Bank for Commerce & Development (Commercial Bank)
  • Banque Sahélo-Saharienne pour l’Investissement et le Commerce (Commercial Bank)
  • Alejmaa Alarabi Bank (Commercial Bank)
  • Savings and Real Estate Bank of Libya (Commercial Bank)
  • Jamahiriya Bank (Commercial Bank)
  • National Commercial Bank (Commercial Bank)
  • Libyan Development Bank (Commercial Bank)
  • Mediterranean Bank (Commercial Bank)
  • Al-Wafa Bank (Commercial Bank)
  • National Banking Corporation (Commercial Bank)
  • Libyan Arab Foreign Bank (Commercial Bank)
  • Sahara Bank (Commercial Bank)
  • Alsaraya Trading And Devolpment Bank (Commercial Bank)
  • Tripoli Agricultural Bank (Commercial Bank)
  • National Agricultural Bank of Libya (Commercial Bank)
  • Wahda Bank (Commercial Bank)

Aadmi can support you with your expansion to Libya. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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