Liberia Overview Chart
| Type of Company: |
Corporation
|
Incorporation cost: |
US$ 400
|
| Minimum number of Shareholders |
1
|
Domiciliary service fee: |
US$ 850
|
| Minimum number of Directors: |
1
|
Other Government fees: |
US$ 150
|
| Bearer Shares Allowed? |
Yes
|
Basic First Year Costs: |
US$ 1,400
|
| Standard Authorized Capital: |
500 NPV shares |
2nd and subsequent year's costs: |
US$ 650
|
| Audited Accounts Required: |
No
|
Incorporation with Swiss Bank Account |
US$ 2,125
|
Liberia is situated on the West Coast of Africa and covers a land area of over 43,000 square miles. It has a population of approximately 2,000,000. 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 there and there are no currency regulations or exchange controls.
The Republic of Liberia was founded in 1845 and has, since its establishment, enjoyed independence and a stable free enterprise economy. The legislature consists of a Senate and a House of Representatives. 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. The official language of commerce and government is English.
The country enjoys reasonable economic stability. It has long term investments in the rubber, iron ore and timber industries by both foreign and domestic interests.
THE LIBERIAN COMPANY
A Liberian company has the following characteristics:
TAXATION
Provided that no more than 25% of the voting powers of the company is resident in Liberia, and all income derives from outside Liberia, the company will not be subjected to any income tax. There is, however, an annual fee of US $150 payable to the Liberian authorities.
SHAREHOLDERS
Only one shareholder is required. Bearer shares are permitted. Details of shareholders do not appear on public file.
DIRECTORS
A Liberian company requires three directors, who will be named in the Articles. However, there is no need to register changes in directors. There is no residential qualification imposed in respect of directors.
ANNUAL REPORTING
There is no requirement to file accounts, or a requirement for the company to appoint Auditors. No returns are required to be filed.
TIMESCALE
Incorporation can be effected within 48 hours of the receipt of the full information by the Liberian authorities, but the authorities take some time to release the incorporation papers.
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.
LOCAL REQUIREMENTS
As a matter of local company law the company MUST maintain a registered office address and a registered agent in Liberia.
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