To provide all the services & facilities which concerning the investment Project in one place without need to transfer from one body to another to fulfill the procedure or to obtain the service which the project need for establishing it and to continue it.
- To receive visitors to the Department both for investment or owners for investment projects or bodies which has investment relations beside establishing the interpretations and demonstrations for designing the investment project.
- Provide and facilitate all the services which is necessary for the potential investors and for the approved projects under the Law No. (5), its amendments and its executive by law.
- Handover and receiving correspondences and decisions, license from the corporation to the project for investment.
- Handover and receiving the application which to be submitted to the cooperation for establishing investment project and to check the documents which presented in the file and to refer it to the concern department to fulfill the procedures.
- Follow-up with the administration section and knowing which the procedure done for the matters referred to the corporation
- Referring the received correspondence which submitted to the project representatives to the Investment affairs department for storage enclosed by statement to signing for receiving it.
- Referring copies from the correspondence which submitted to the project, representatives to the information office.
Services Department in One Stop Shops provides the following services and duties:-
- To contact the investment project owners to receive their correspondence and their decision, and the licenses granted for the project or send it by fax.
- Receiving the application which submitted to the corporation for establishing investment project and ensuring that the documents in the file is complete and to refer it to the concern department to complete the procedures.
- To complete the procedures concerning all the decided financial fees by the decree No. 530 for the year 2009 (with the treasury and to submit the receipt to the investor).
- To coordinate with the department and offices, sections which in relation with the corporation.
- To coordinate with the investors concern bodies to facilitate the procedures.
- Granting approvals for Visa Entry.
- Granting approvals for providing Resident Permit for the personnel working in the investment Projects.
- Granting the custom release for Machinery / Equipment, Raw materials for the project which need it for its activity.
- To contact the investors to facilitate the procedures (Taxes, Environment etc).
For The Approval Of Investment Projects
- Procedures of the approval of investment project establishmentThe application regarding the establishment of the investment project to be submitted to the PIB in a form designed for this purpose and can be obtained,
directly, from the PIB administration .
The application-should be attached with :
A- a memorandum to specify :-
- Amount of the capital intended to be invested.
- Local and imported raw materials to be utilized by the project.
- Technical specifications of the project.
- A time table determining the duration of the execution of the project.
- Estimations of local and foreign manpower expected to be employed by the project.
- Investorís certificate of nationality issued by competent authority of his country for natural persons.
- C-Recently -dated official abstract of the commercial register in the country of origin for juridical persons provided that the documents stated in paragraphs (B-C) are originalwith an enclosed Arabic translation.
- The Authority for PIB undertakes to consider the applications, to prepare the related technical, administrative reports and the required recommendationsincluding its opinion regarding the project, shedding light upon its profitability to the national economy and to submit its recommendations to
the authority , to take the required decision. Once the decision of approval of such project is issued
by the authority , the PIB shall notify the investor concerned of such decision requesting his submission of
the required documents for project registration and the issue of the related license of such project.
- .Registry in the Investment register :
- Article 23 of the Law stipulates thatî The project is not subjected to procedures related to commercial, import and export registrationîThe project will take one of the following legal forms:
- Joint Stock Company.
- Limited Liability Company.
- Branch of a foreign company .
- Individual project .
- The registration of the project in the investment register to be done with the Privatization and Investment Board and the related application to be submitted on the form preparedby PIB for this purpose.
- Documents required for the registration in the investment register:
- The memorandum and articles of association for the project that should take the form of a joint-stock company or of a limited liability Company.
- Act of incorporation + articles of association of the main company in the event that the project takes the form of a branch of a foreign company in addition to decisionof the board of directors concerning the incorporation of such branch and that related to the designation of the manager of such branch and its legal representative in
the Libya .
- Document of empowerment with authorities or of a delegation of authority regarding the administration of such project issued in favor of such projectís manageror in favor of his legal representative that must include the statement of such authorities and the duration of validity of such empowerment.
- Specimen of projectís manager signature or that of his legal representative in the Great Jamahirya.
- Certificate issued by a bank stating the deposit of the equivalent of 10 % in cash from the capital to be invested, in the name of such project.
- The registration in the investment register will have the same legal effects of the registration in the commercial register including the establishment of the juridical person character.
- After completion of the implementation of the project and once ready to be operated, the PIB will issue the operating license for the project to commence its activities,fixing in that way the effective date of the five-years tax exemption, as provided for in article 10 of the Law.