Limited, Corporation, Incorporated, Aktiengesellschaft, Gesellschaft mit beschränkter Haftung, Société ANonyme, Sociedad Anónima or any other suffix indicating that the corporation is Not a natural person, or the relevant abbreviations

Sensitive words

“Chamber of Commerce”, “Building Society”, “Bank”, “Insurance”

Cyrillic alphabet permitted in company name

No

Local registered office

Yes

Local registered agent

Yes

Information to be kept at the registered office

address of record/billing address

Seal required, type of seal

not required

Redomiciliation (to, from) permitted

permitted

Director and secretary

Minimum number of directors

1

Residency requirements for directors

No

Corporate directors permitted

Yes

Directors’ meetings/frequency/location

No requirements

Disclosure to local agent

No

Disclosure to public

No

Company secretary required

Yes

Residency requirements for a secretary

No

Qualified secretary required

No

Corporate secretary permitted

Yes

Shareholder and beneficiary

Minimum number of shareholders

1

Residency requirements for shareholders

No

Corporate shareholder permitted

Yes

Meetings/frequency/location

No requirements

Disclosure to local agent

No

Disclosure to public

No

Beneficiary info disclosure to

No

Shares and share capital

Minimum authorized share capital

1 share

Minimum issued share capital

1 share

Minimum paid share capital

1 share

Authorized capital payment deadlines

No requirements

Issued capital payment deadlines

No requirements

Standard currency

US dollar

Standard authorized share capital

50000

Standard par value of shares

1

Shares with no par value permitted

Yes

Bearer shares permitted

Yes

Taxes

Personal tax

0-25%

Сorporate tax

25%

Corporate tax (in detail)

Income tax is levied at a rate of 25%. A minimum tax of 2% of the proceeds may also apply. For mining companies, companies in the oil sector - 30% (however, there are various benefits).

Capital gains tax

Regular rate

Capital gains tax. Details

Gains on the sale of assets are taxed at the normal corporate tax rate.

VAT

7%

VAT. Details

GST is levied at 7% and 10% rates, 15% applies to telecommunications services.

Withholding tax

15%/15%/15%

Other taxes

Social contributions, Property taxes

Exchange control

No

Government fee

—

Stamp duty

1-12,5%

Accounts

Requirement to prepare accounts

Yes

Requirement to file accounts

No

Publicly accessible accounts

No

Requirement to file Annual Return

No

Publicly accessible Annual Return

No

Audit required

No

General information shortly

Location

Western Africa

Total area

111.369 sq.km

Population

4.937.000 (2019)

Capital

Monrovia

National currency

Liberian dollar

Conditional reduction of currency

LRD

Against USD

0,0066 (2022)

Climate, average max and min t°

tropical, hot, humid; dry winters with hot days and cool to cold nights; wet, cloudy summers with frequent heavy showers; avg. temperature is over 24 C throughout the year

Time difference from Moscow

- 3 hours

Dialing code

+231

State language

English

Ethnic groups

20.3% Kpelle, 13.4% Bassa, 10.0% Grebo, 8.0% Gio, 7.9% Mano, 6.0% Kru, 5.1% Lorma, 4.8% Kissi, 4.4% Gola, 20.1% others

Literacy rate

48,3% (2017)

History

In 1822 the first American settlers founded here the colony of “free men of color” which was named Liberia, “the land of liberty”. In 1847 the Republic of Liberia declared its independence. The country suffered several territorial conflicts between Britain and France during its history, and just in 1911 the borders were officially established. Civil wars lasted from 1989 to 2003. Nowadays the Republic of Liberia is led by Ellen Johnson-Sirleaf, the first woman-president of an African country.

Credit rating

Government type

presidential republic

Executive branch

President

Legislative branch

bicameral parliament: Senate (30 members) and House of Representatives (73 members)

Judicial branch

Supreme Court; circuit and specialized courts, etc.

Unemployment

4,0 (2020)

GDP per capita rank

189 (2020)

Corruption perceptions index rank

29 (2021)

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