When doing business in Liberia, it is important to find out whether the business needs to have a permit from, register with, or make some other notification to any other public authority. Licensing and supervisory authorities may be at the district, county or national level. When you contact an authority, keep in mind that the processing time and fees you must pay may vary.
- Common Licenses, Permits, And Tax Registrations That A Business May Need Include But Are Not Limited To:
- Zoning and land use permits, especially for new manufacturing businesses and certain home-based business operations.
- Health department permits, especially if your business involves the preparation and/or sale of food.
- Sales tax license for the selling of almost all products and services.
- Fire department permits, especially for businesses that will attract large numbers of customers (i.e. nightclubs and bars).
- Some Of The Relevant Agencies Include, But Are Not Limited To:
- Ministry of Justice (www.moj.gov.lr): Permits and clearances for all security-related companies
- Ministry of Public Works (www.mpw.gov.lr): Permits and licenses for construction companies
- The Liberia Maritime Authority (www.maritimeliberia.com): Permits and licenses for all marine-related activities
- The Land Commission (www.landlib.org): Land use permits
- Ministry of Land, Mines & Energy (www.molme.gov.lr): Permit and licensure for the extractive industries
- Ministry of Commerce and Industry (www.moci.gov.lr): Licensure for import and export of commodities
- Ministry of Agriculture (www.moa.gov.lr)
- The Bureau of Fisheries: (www.liberiafisheries.net/licensing_requirements/industrial)
All private and public-sector entities are legally allowed and encouraged to develop a Personnel Handbook. The provisions of the Personnel Handbook however must conform with the labor practices and laws of Liberia to the extent that any diametrical variance could render the Personnel handbook invalid and notwithstanding.
The National Minimum Wage (NMW) is currently being re-evaluated. Meanwhile, the Government of Liberia, cognizant of the prevailing economic situation in the country, raised the minimum salary for civil servants from US$15 in 2006 to US$80 per month in 2009. The Government also substantially reduced income tax in 2010 in order to increase nominal income for employees. It is therefore expected that during the interim, private sector employers would use the public-sector initiative as the point of reference in determining the minimum wage for their employees.
- Concessions in Liberia
- Business Registration
- Reserve A Unique Company Name: Liberia Business Registry
The applicant can search the name online or at the Liberian Business Registry (LBR) helpdesk. The reservation of the name lasts for 120 days at the cost of about USD15.00.
- Register At The Liberia Business Registry: Liberia Business Registry
The entrepreneur submits the company registration application to the Liberia Business Registry (LBR) office. The application must include the following documents:
Consolidated application for a limited liability company contains:
- Registration Form (RF - 001)
- Articles of incorporation
- Copy of ID documents as attachments to forms A or B
- Additional parts:
- Empowered person form (A) or Registered agent form (B) in case of a company representative
- Incorporator(s) form (E)
- Shares and shareholder(s) form (F)
- Information for TAX authority form (Q)
LBR officers review the application and request the TAX Identification Number (TIN) and BPS from the Ministry of Finance and Development Planning on behalf of the entrepreneur.
- Pay Fees And Obtain Proof Of Payment: Liberia Business Registry (Central Bank window)
The entrepreneur proceeds to the bank window in order to pay the associated registration fees. Upon payment of the fee, the Bank officer issues a flag receipt of the Government of Liberia as proof of payment. This receipt has to be returned to the initial officer who accepted the application.
- Receive The Business Registration Certificate: Liberia Business Registry
The entrepreneur returns to the Liberia Business Registry office to submit the proof of fee payment. The officer then journalizes the dossier and provides the entrepreneur with the receipt slip, thereby approving the dossier for processing. The entrepreneur can track the status of the application online; and upon approval, the company receives a Business Registration Certificate.
This process can take between 48-72 hours.