International offshore company formation

General
Type of Company	Non-Resident
Political Stability	Bad
Standard Authorised Capital	No
Tax on Offshore Profits	Nil
Corporate Requirements
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.