The chairman of board of directors of the joint-venture (joint-sock) company or the manager of joint-venture (limited liability) company must be of Libyan nationality, and the country manager and deputy of a branch of a foreign company in Libya's must be Libyan too.
"Section One - Joint-Venture Companies
Article 1
Subject to the unity of object and specialization, formation of joint-venture companies shall be between the Libyan national and body corporate persons and the foreign national and body corporate persons according to their specialties as registered with the official departments in the country of abode of their main domicile, after obtaining permission from the Minister of Economy, provided the joint-venture shall not be a holding company.
The chairman of board of directors of the joint-venture (joint-sock) company or the manager of joint-venture (limited liability) company should be of Libyan nationality.
[...]
Section Two - Branches of Foreign Companies
Article (7)
Foreign companies, after taking out permission from the Minister of Economy, shall have the right to open branches thereof in the fields specified under article (9) of this decision, provided they shall not be participating in a joint-venture company operating in the same field or activity. The duration of the branch shall be five (5) years subject to renewal.
Article (8)
Application for obtaining permission, provided for in the preceding article, should be appended with the following documents:
1) Decision of Company's Board of Directors, approving the opening a branch for the Company in Libya that includes the following:
a) Define the activity of the Branch provided it should be falling within the activities permitted for foreign company branches to carry on in Libya.
b) Amount allocated for opening and running the branch, should not be less than (LYD 250,000) two hundred and fifty thousand Libyan dinars.
c) Nominate the branch's manager and his deputy, provided either of them should be Libyan.[...]" (Decision of the Minister of Economy No. 207 of the year 2012 in respect of foreigners participation in foreign companies, branches and representative offices of foreign companies in Libya)
Decision of the Minister of Economy No. 207 of the year 2012 in respect of foreigners participation in foreign companies, branches and representative offices of foreign companies in Libya
[<a href="https://www.chambre-de-commerce-franco-libyenne.org/uploads/D%C3%A9cision%20207%20(traduction%20anglaise).pdf">Decision</a>]