North Africa CO. - Ownership & investment in Libya

Open accounts under project name by local currency and foreign currency. Transfer net profit and benefits realized by project and announced annually.

Own land for use of...And rights to rent land and build on it...Have also the right to own and rent real estate’s for make the project active.

Have right to carry the losses which might cause the project during the years of exemption years later.

transfer the ownership of the project and transfer of property to another investor in whole or in part.

Re- export of capital invested abroad in the following cases:

A- The expiry of the project.

B- Sell the project in whole or in part.

C- Period of time not less than five years from the date of issuance of investment license.

D- Liquidation of the project.

The investors have right to transfer its money abroad in the same way to issue after passing six months from date of receipt in time If you have prevented the investment conditions beyond the control of the investor.

Import all needs and requirements of the project from a broad if it was Construction Materials –Furniture – Machinery-Equipment-Mechanisms-Transport and transmission-Devices needed for the Implementation of the project- Spare parts- And raw materials needed to run the project With the enjoyment of the exemptions established.

Export project products to outside great Jamahiriya if It was Commodities Intermediate, or prepared for immediate consumption with the enjoyment of exemption from excise duties and export taxes for exporting.

The investor have right to bring an employees and foreign expertise crisis.

Allow to all foreign employees that they work with official contract to transfer their salaries and reward etc…

The insurances given by law to the investor

The project may not be nationalized or expropriated or seized or confiscated by the compulsory or the imposition of custody or memorization May not be the nationalization of the project or the expropriation or seizure Forced its or confiscated or sequestrated or memorization, and freezing or subjected to measures having the same effect just with law or through a court, in return, immediate compensation and fair and provided that the Precinct such procedures are non-discriminatory and calculated compensation based on fair market value for the project when take the procedure and allows the transfer of the amount of compensation currencies to contain.

Any dispute between the foreign investor and the State either by the investor or the result of action s taken against the State competent courts in the Great Jamahiriya only when there was a bilateral agreement between the Great Jamahiriya and the State of which the investor or agreements where the Great Jamahiriya and the State of which the investor parties Which include provisions relating to conciliation Or arbitration proceedings or a special agreement between the investor and the state provides for the requirement of rule.

Investor's Obligations

It is not permitted to act in machinery, equipment, tools, spare parts and raw materials for the purposes of the project sale or abandoned only with the consent of the Authority and after the performance of customs duties and taxes assessed on the importation thereof is not permitted to use for purposes other than the license for it.