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Steps (13) arrow_drop_up arrow_drop_down
Prepare company documents  (2) expand_more expand_less
Obtain board registration permission  (3) expand_more expand_less
Pay capital and registration fees  (2) expand_more expand_less
Apply for project registration  (2) expand_more expand_less
Obtain license of investment project  (4) expand_more expand_less

6
Open bank account and deposit capital
(last modified: 22/06/2021)

Costs

( ver detalles )

Timeframe ( ver detalles )

Espera hasta paso siguiente

Free of charge
25 mn  -  45 mn
7 days  - 

Contact details

Entity in charge

Any commercial bank

Requirements

1. 01 - Libre deuda de patente
Account opening application form - Foreign (original)
2. 01 - Libre deuda de patente
Company declaration for not maintaining any other bank account (original)
3. 01 - Libre deuda de patente
Minster of economy decision cover letter (Simple copy)
4. 01 - Libre deuda de patente
Minister of economy decision authorizing investment project (Simple copy)
5. 01 - Libre deuda de patente
Company decision MoM PIB - Certified (Simple copy)
6. 01 - Libre deuda de patente
Company decision MoM PIB - Translated (Simple copy)
7. 01 - Libre deuda de patente
Memorandum and article of association - Foreign - Certified (Simple copy)
8. 01 - Libre deuda de patente
Memorandum and article - Foreign - Translated (Simple copy)
9. 01 - Libre deuda de patente
Company registration certificate - Foreign - Certified (Simple copy)
10. 01 - Libre deuda de patente
Company registration certificate - Foreign - Translated (Simple copy)
11. 01 - Libre deuda de patente
Authorized signatories ID or passport - Foreign (original)
12. 01 - Libre deuda de patente
Authorized signatories photos (x2) (original)

Cost

LYD expand_more expand_less
  • LYD Add Name Here

Cost detail

Estimate your cost

LYD 0 -
10 % capital amount
10% of the project cash capital and no less than 200000 LYD
Capital amount
Payment methods: Wire transfer

Time frame

Waiting time in queue: Min.   10mn - Max.  15mn
Attention at counter: Min.   15mn - Max.   30mn
Waiting time until next step: Min.   7 days

Legal justification

1. Central bank of libya decision 36 of year 2009 regarding bank accounts
Central bank of libya decision 36 of year 2009 regarding bank accounts
Article 12
2. Law No. 9, 2010 (1378 p.d.) on Investment Promotion (A)
Law No. 9, 2010 (1378 p.d.) on Investment Promotion (A)
Article 12
3. Law No. 9, 2010 (1378 p.d.) on Investment Promotion (E)
Law No. 9, 2010 (1378 p.d.) on Investment Promotion (E)
Article 12
4. Decision (499) of year 2010 for the executive regulation law No (9)
Decision (499) of year 2010 for the executive regulation law No (9)
articles 33, 35

Additional information

Account opening requirements may differ from bank to another, in addition to the above requirements the following documents must be provided when ready in order to activate the account:
  • Commercial registry certificate
  • Chamber of commerce registration certificate
In some cases board support letter addressed to the bank may be required by some banks in order to open a bank account, in that case the applicant should write a formal request for support letter to the PIB before this step.
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