Currently employing over 40,000 people, the Misrata Free Zone handles over 350,000 containers per year and has over 500 registered companies, making it Libya’s most important business hub. The zone offers a variety of benefits for businesses, including tax-free status, full custom duties exemption, and full governmental fundraising immunity.
Located in the country’s third largest city, the free zone offers many advantages for businesses, including:
- 0% Personal or Corporate Income Tax
- 0% Customs Duties or Import/Export Taxes
- 0% Value-Added Tax
- 100% Capital and Profit Repatriation Allowance
- No Restrictions on Recruiting Labour
- Reliable & Inexpensive Power
- Possibility of Transferring Ownership
- No Restrictions on Cargo Traffic
Furthermore, power is reliable and affordable, and land is widely available. Ground rents were $2.50 per sq metre for commercial and service sector companies, while rent for industrial firms stood at $1.50 per sq metre annually. Business licences are competitively priced and the minimum deposit to operate is $100,000 per company. These favourable conditions have helped attract many international businesses to the trade zone, including: international companies such as automotive heavyweights Toyota and Nissan, Turkish construction giant Albayrak Group and Malta’s Medserv Energy, as well as Libya’s Brega Petroleum Marketing Company. As a result, the Free Zone has become the most important hub for trade and investment in Libya.
The Misrata Free Zone is a key point for entering the Libyan market today. The city of Misrata is currently Libya’s most stable and secure city, making it an ideal location for businesses to set up operations.
As a representative of this business hub, the Euro-Libyan Trade Center can provide you with information regarding the zone and assist you with any related matters. Some examples include: benefits to businesses, tax incentives, infrastructure support and convenient location.
Please do not hesitate to reach out to us for more information and guidance.