Libya

While Libya offers potential opportunities for foreign investors, the operating environment remains challenging due to political instability, security risks, and regulatory uncertainties. Libya’s economy is heavily dependent on oil and natural gas exports, with the energy sector accounting for the majority of government revenue and GDP. However, political instability and conflict have disrupted oil production and export, impacting the economy severely.

Libya Citizenship by Investment

Libya does not offer a direct citizenship by investment programme. For second citizenship programmes, international investors, including Libyan nationals, need to look elsewhere. There are several citizenship programmes in the Caribbean that may be suitable. For example Antigua and Barbuda’s Citizenship By Investment Programme provides the opportunity to obtain a second passport in 4-5 months.

Libya Residency by Investment

Libya does not offer a direct residency by investment programme. However, there are several prominent investor visa programmes to consider elsewhere, particularly in Europe. Hungary’s Golden Visa programme offers foreign investors, including Libyan citizens, the advantage to have the freedom of travel across the EU Schengen zone. In addition, investors can live in Hungary and have the opportunity to work and study there too.

Libya Passport Strength and Ranking

Libya ranks 188th on La Vida’s comprehensive Global Passport Ranking. The Libyan passport is weak and only provides visa-free access to 52 countries. Correspondingly, this represents just 8.3% of worldwide travel and 4.2% of global wealth (measured by GDP). Hence, this passport is considered one of the lowest-ranking passports globally. There are better solutions including several Caribbean countries offering citizenship by investment programmes.