Libya, with its strategic location at the heart of the Mediterranean, has long been seen as a potential hub for trade between Africa, Europe, and the Middle East. In recent years, the country has taken steps to realize this potential through the establishment of Free
The Arbitration Law in Libya was enacted under law No. 10 of 2023 which was into force on April, 17, 2023 and creates the procedural regimes for enforcing arbitration awards in Libya. This law is based on the UNCITRAL model law and has been adopted
Under the Libyan Commercial Law, the General Assembly (Ordinary General Assembly) and the Extraordinary General Assembly are conducted for various purposes and are regulated under different sets of rules and regulations. The following is a more detailed discussion as to how the two differ from
As Libya’s socio-economically stabilizes, many business opportunities are beginning to appear in Libya, which has incentivized foreign companies to start or return to their operations in Libya. In order for foreign companies to successfully and smoothly operate in the Libyan Jurisdiction especially due to bureaucratic
Last week, during a meeting at the Turkish Ministry of Commerce in Ankara, Libya and Turkiye and agreed on a new mechanism aimed at realising the customs agreement between the two nations from 2014. The customs agreement will grow the efficiency of customs procedures not
Tumi Law Firm is proud to be attending the Libya Energy & Economic Summit to be held on the 8th and 9th of November 2023 at the Rixos Convention Centre in Tripoli, Libya. The Summit will have an immense focus on developing a clear agenda
Our firm proudly has been ranked for another consecutive year as Band 1 Top Tier firm by the esteemed 2023 Chambers Global Guide legal directory. We are also delighted with Dr. Tumi’s 22nd ranking achievement in Band 1 for ranked lawyers, in addition to one
Prima facia, the Libyan Ministry of Justice Department’s legal opinion and response to the Deputy Minister of Economy is indeed a reassuring legal piece to foreign investors. It reinforces that foreign investment can take many legal forms and is thus not restricting nor confining foreign
The Ministry of Economy has on 19th of May 2022 issued a new code of conduct to govern the behavior and internal policies of companies and branches present in Libya. The Resolution No. 494 of 2022 regarding the adoption of the Code of Conduct for Companies