Liberia

I. ABOUT THE COUNTRY

Liberia is situated on the West Coast of Africa. Monrovia, its capital, is the center of commercial activities. There are no currency regulations or exchange controls. The Liberian dollar has the same value as the US dollar. The Republic of Liberia is independent and stable politically. The official language for commerce and government is English.

II. THE ADVANTAGES

The country enjoys reasonable economic stability. A company will not be subjected to any income tax for all income from outside Liberia if no more than 25% of the voting powers of the company is resident in Liberia. Only an annual fee of US $150 is payable to the Liberian authorities.

III. CHARACTERISTICS OF THE LIBERIAN COMPANY

SHAREHOLDERS

A minimum of one shareholder is required. Bearer shares are permitted. There is no requirement to file details of shareholders.

DIRECTORS

A minimum of one director who must be named in the Articles is required. But the companies need not register any changes in directors. No resident director is necessary.

ANNUAL REPORTING

Filling of accounts and appointment of Auditors are not necessary. There is also no requirement to file returns.

LOCAL REQUIREMENTS

Each company has to maintain a registered office address and engage registered agent in Liberia.