DOING BUSINESS IN LIBERIA
Last Published: 7/12/2017
Under Liberian corporate law, all businesses are required to register or apply for an “Authority to do Business or Provide Services” in Liberia. The Liberia Business Registry (LBR) under the Ministry of Commerce and Industry (MOCI) handles the applications and business registration processes. The fee structure for registration varies depending on whether a business is local, foreign, sole proprietorship, partnership, or corporation. The standard steps to follow in establishing a local business office are noted below:
Reserve a unique company name with LBR: an applicant can do a name search online or at the LBR helpdesk; business names can be reserved for up to 120 days.
Register the company using registration application form (RF-001), and submit the completed application with: the company’s articles of incorporation, proof of identification, empowered person’s or registered agent’s form, incorporator’s form, shares and shareholders’ form, and information for tax authority form.
LBR will review the application package and request a Tax Identification Number (TIN) and bank payment slip (BPS) on behalf of the business in question; all businesses operating in Liberia must have a TIN, which is obtained free of charge from Ministry of Finance and Development Planning.
Once a TIN has been obtained pay associated business registration fees at the Central Bank of Liberia window at LBR.
Present the proof of payment to the LBR registrar where the process is completed; the entire process takes 1-4 weeks. Registration of a business is valid for 12 calendar months from the date of registration. Conducting commercial activities in Liberia without being registered will result in penalties.
The LBR has a fee schedule for new enterprise registrations applicable to different types of legal entities.
Have you done your market analysis?
Do you have a business plan?
Do you have the finance?
Have you done your research – how to obtain a business license/registration, permits needed, taxes, PPCC, IP, business laws, etc?
Have you join the Liberia Chamber of Commerce?
"Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." Peter Drucker
Source: MoCI and Export.gov