Local Registered Office and Registered Agent Required
Yes
Minimum Number of Directors/Managers
1
Local Directors Required
No
Corporate Directors Permitted
Yes
Minimum Number of Shareholders/Members
1
Local Shareholders Required
No
Corporate Shareholders Permitted
Yes
Company Secretary Required
Yes
Bearer Shares Allowed
Yes,
but not available
Annual Requirements
Filing of Annual Return
No
Submit Audited Accounts
No
Min. Annual Tax / Licence Fees
US$150
Shelf Companies Available
No
GENERAL
INFORMATION
INTRODUCTION Liberia is situated on the
West Coast of Africa and consists a land area of over 43,000 square miles between
Sierra Leone, Guinea and the Ivory Coast, just north of the equator.. It has a
population of approximately 2.5 million and its capital, Monrovia, is the centre
of the country's Government and commercial activities. The Liberian dollar has
the same value as the US dollar which freely circulates and there are no currency
regulations or exchange controls. The country adopted a new constitution in 1985,
following a military coup d'etat in April 1980, and elections for a President
and both Houses were held in November 1985.
LANGUAGE English
is the official language of Liberia although there are sixteen indigenous languages,
which are used throughout the country.
TYPE OF LAW Liberian
law was based on that of the United States of America and can be found in the
Liberian Code of Laws of 1956 Common Law. A dual system of statutory law based
on American/Anglo Common Law is used for the modern sector and customary law based
on unwritten tribal practices is used for the indigenous sector.
COMPANY
INFORMATION
TYPE OF COMPANY FOR INTERNATIONAL TRADE AND
INVESTMENT Non-Resident Corporation
TIME TO INCORPORATE One
Day, but allow ten working days for receipt of documentation.
RESTRICTIONS
ON NAME AND ACTIVITY Any name is acceptable for a Liberian company, provided
it is not identical to an existing company. The name must include the words "Limited"
or "Corporation", but their equivalent in certain languages is permissible.
CLASSES OF SHARES PERMITTED Registered shares, bearer shares,
preference shares, redeemable shares, shares with or without a par value and shares
with or without voting rights.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO
AUTHORITIES No.
LICENCE FEES The annual government licence
fee is US$150.
TAXATION Non-Resident Liberian corporations do
not incur tax liabilities in Liberia if the income is derived from non-Liberian
sources. Liberia has treaties with Germany and Sweden. Although these treaties
do not extend to the Liberian Non-Resident Company.
FINANCIAL STATEMENT
REQUIREMENTS Whilst there is no requirement to file annual audited accounts
with the authorities, a company is required to keep financial records, which reflect
the financial position of a company.
Whilst every effort has
been made to ensure that the details contained herein are correct and up-to-date,
it does not constitute legal or other professional advice. We do not accept any
responsibility, legal or otherwise, for any error or omission.
