Engage In Libya

Table of Contents

About Libya

Capital City

Tripoli

Population

As of March 2024, the estimated population of Libya is 6,888,388.

Currency

The currency in Libya is the Libyan Dinar (LYD). The currency symbol is LD.

Exchange Rate Calculator

USD

Overview

Libya, located in North Africa, is a country with a rich history and diverse geographical features. It is bordered by the Mediterranean Sea and shares its borders with Egypt, Sudan, Chad, Niger, Algeria, and Tunisia. The country is predominantly arid, with over 90% of its land consisting of desert or semi-desert regions. Despite its challenging climate and limited natural freshwater resources, Libya has made significant strides in its economy, particularly with the discovery of oil in the late 1950s. Oil has become a vital commodity, driving the country’s economy and transforming it from a predominantly agrarian society to a modern, oil-rich nation. Libya is a country undergoing a transition in its government system. The chief of state is the president of the General National Congress, while the head of government holds the position of prime minister. The nation is moving towards a more market-based economy where the prices of goods and services are determined through a free price system. As a member of the League of Arab States and the Common Market for Eastern and Southern Africa, Libya actively engages with its regional and international counterparts to foster cooperation and strengthen its ties. With its capital city, Tripoli, and other major cities like Benghazi, Libya is home to a significant portion of its population, which is estimated to be around 7.6 million people. The country consists of three historical regions: Tripolitania in the northwest, Cyrenaica in the east, and Fezzan in the southwest. Each region contributes to Libya’s cultural diversity and historical significance. In recent history, Libya experienced a significant political shift during the 2011 revolt against the authoritarian regime of Muammar al-Qaddafi, resulting in his removal from power. This event has marked a crucial turning point in Libya’s trajectory, as it strives to rebuild and establish a more inclusive and democratic society. Despite the challenges it faces, Libya continues to navigate its path toward development, leveraging its natural resources, embracing economic reforms, and fostering regional cooperation to shape a brighter future for its people.

Employment Relationship

Permanent Employment

Fixed-Term or Specific-Purpose Contracts

Temporary Employment Contratcs

Probationary Period

Working Hours

Holidays / PTO

Statutory Holidays

Paid Annual Leave

Sick Leave

Maternity Leave

Paternity Leave

Termination of Employment

Notice Period

Severance Benefits

Social Security

Pension

Dependents/Survivors Benefit

Invalidity Benefit

Taxation of Compensation and Benefits

Personal Income Tax

Immigration

Types of Visas

Work Permit

I'm ready to hire in Libya

Get in touch!

Contact us for a free consultation

By submitting this form, you acknowledge that you have read our Privacy policy