This is an example of the directory layout for the chroot/lib directory of a SELinux UML instance.
No libraries should be needed when using a statically compiled kernel unless the kernel is built with the pcap transport compiled in, in which case some network libraries are required (the kernel will still boot without them - but it is not possible to use the pcap interface):

drwxr-xr-x   3 root root   .
drwxr-xr-x  12 root root   ..
-rwxr-xr-x   1 root root   ld-linux.so.2
-rwxr-xr-x   1 root root   libc.so.6
-rwxr-xr-x   1 root root   libcrypt.so.1
-rwxr-xr-x   1 root root   libdl.so.2
-rwxr-xr-x   1 root root   libm.so.6
-rwxr-xr-x   1 root root   libncurses.so.5
-rwxr-xr-x   1 root root   libnsl.so.1
-rwxr-xr-x   1 root root   libnss_compat.so.2
-rwxr-xr-x   1 root root   libnss_files.so.2
-rwxr-xr-x   1 root root   libnss_nis.so.2
-rwxr-xr-x   1 root root   libpam.so.0
-rwxr-xr-x   1 root root   libpam_misc.so.0
-rwxr-xr-x   1 root root   libpthread.so.0
-rwxr-xr-x   1 root root   librt.so.1
-rwxr-xr-x   1 root root   libselinux.so.1
-rwxr-xr-x   1 root root   libutil.so.1
drwxr-xr-x   2 root root   security