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How To Hire New Remote Employees | Libya

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Libya

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Libya

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Libya

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capital city
Libya
currency
Libyan dinar (LD, ل.د, LYD)
language spoken
Arabic
payroll frequency
Monthly
employer taxes
11.5% and 10.5%
vat - standard rate
There is no VAT in Libya
cost of living index
3,020.12 Libyan Dinar
gdp - real growth rate
-31.3% (2020)
termination process
Varies
employee protections
Moderate
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Overview

Libya’s population in 2020 was 6.9 million, the gross domestic product yearly growth rate was 45% by late 2021 and is estimated to increase approximately six percent in 2022 and eight percent in 2023. Libya’s economy relies on oil production, which accounts for 94% of the nation’s government revenues. The country’s external debt is approximately 5.8% of the GDP in 2017, making it among the lowest external debt rates globally. The currency is in Libyan dinars (LD).

Public Holidays

17 February- Libyan Revolution Day

19 March- Commemoration of the Victory over Kadhafi

1 May- Labour Day

 2–5 May- Eid al-Fitr

8–9 July- Day of Arafat

 9–12 July- Eid al-Adha

29–30 July- Islamic New Year

16 September- Martyrs' Day (in Libya)

23 October- Liberation Day

24 December- Libyan Independence Day

Minimum wage

The Libya minimum remuneration is LD 450 monthly and the government extremely subsidizes utilities and rent. 

Payroll cycle

Payroll in Libya is run on a monthly basis.

Taxation

Income Tax Rates

Gross Salary Tax Rate
Per Year Per Month
12,000 LYD 1,000 LYD 5%
Over 12,000 LYD Over 1,000 LYD 10%


Leaves

Annual leave 

In Libya, employees are entitled to 30 working days of paid annual leave. The leave may increase to 45 working days of remunerated annual leave for workers aged 59 and older who have consecutively been employed for a minimum of 20 years and above. 

Maternity 

Female workers are privileged to a maternity leave of 14 weeks; eight weeks are following the childbirth and six weeks can be taken before the expected delivery date. In complicated or multiple births, the leave period is increased to 16 weeks of paid maternity leave.

Sick leave

Workers who fall ill in Libya for a prolonged period are entitled to 45 days of sick leave and those who are sick for a short time are given 60 days of sick leave annually.

Termination process

The Libyan Labour Law states that fairness must be upheld between all the country’s citizens and it protects employees from unfair dismissal from work. If an employee desires to terminate the employment contract, a notice must be provided to the employer. 

Notice period 

The notice duration in Libya is generally 30 days for workers and employers.

Severance 

Severance remuneration for Libyan nationals is not needed, but it is necessary for expatriates who are entitled to a half year’s payment for each year of the employment up to five years.

Probation 

The probation duration in Libya is six months. 

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