In 1822 territory where now is located Liberia was encountered by first settlers from the United States. They established the so-called free colored people colony or free land- Liberia. State history has a lot of conflicts and wars as with external competitors (Britain and France) as internal- civil war. The last ended only in 2003, and new national history has started since then. Liberia's national system is a presidential republic, made up of the US model and prototype. Civil War greatly weakened the country's economy and infrastructure was almost completely destroyed. As a result, Liberia has become one of the world's poorest countries. The main source of income for the country's economy is receipt of fees for use of the Liberian flags in different national courts.
The most common business entities
The most popular foreign business registration type is non- resident company (NRC).
The main features
There's property tax and social contributions.
Liberia's legal system is made on basis of the English common law with a mixture of modified forms of the American and the African common law. Thus, the legal system is mixed.
There are no requirements for stated capital. There is a standard capital amount of 50 thousand US dollars.
The main requirements for directors and shareholders
There are extremely liberal requirements- it is sufficient to have one director and one shareholder. They can be both legal and natural persons without any restrictions on residency.
Disclosure of the company's beneficial to government bodies
Disclosure is not required, but it can be done on a voluntary basis.
Requirements for financial statements are minimal. It is sufficient to record the accounting operations and make financial records.