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Liberia

Liberia Flag

Country: Liberia
Region: Africa
Currency: Liberian dollar (LRD) (L$)
Languages: English
Time Zone: UTC 0

Phone Code: +231

Communications: Good

Formation Cost: 700 - 1300 USD$
Formation Time: 1 - 6 days
Maintenance cost: 400 - 600 USD$

Executive Summary: Liberia is located on the west coast of Africa between the Ivory Coast to the east and Sierra Leone to the west. As a former British colony, the official language is English, although it is spoken by only 20% of the population of just under 4m, with some 20 ethnic group languages in use. Liberia has plentiful mineral resources, forests, and a climate favourable to agriculture, and has been an exporter of raw timber, rubber, diamonds, iron ore, coffee and cocoa. The fairly small manufacturing sector has been mostly foreign owned. Following political turbulence in the 1980s, external confidence in the key diamond extraction industry has largely been re-established. President Johnson Sirleaf, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. GDP has been growing strongly, due to high world prices for Liberia’s commodities: 7.9% in 2011 and 8.3% in 2012. Liberia's success story, however, has been its shipping registry, currently the world’s second-largest. Liberia has a very liberal business climate. There are no statutory foreign exchange controls, and funds may generally be freely remitted into and out of the country.

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Vehicle Types: Limited liability companies, foundations, non-profit businesses, general partnerships and limited partnerships

Capital primary business districts: Monrovia

Good Relationships: China, India, Russia, South Africa

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 25%, PIT 0%-25%, VAT 7%

Treaty Jurisdictions: Germany

TIEA Jurisdictions: Australia, Denmark, Faroe Islands, Finland, France, Ghana, Greenland, Iceland, India, Netherlands, Norway, Poland, Portugal, South Africa, Sweden, United Kingdom

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