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General And Legal Requirements For Establishing a Business In Liberia
The National Investment Commission (NIC) was established by law in 1979 to encourage, promote and coordinate all investment promotional activities in Liberia with the aim of accelerating economic growth and development. The NIC, a cabinet-level agency, is chaired by Dr. Richard V. Tolbert and has a staff of 160.

Six members man the Commission’s highest echelon — the Minister of Commerce and Industry, the Minister of Finance, the Minister of Justice, the Minister of Planning and Economic Affairs, the Minister of State for Presidential Affairs and the Chairman.

Among other things, the Commission:

(a) provides general policy guidelines in the formation of plans for the promotion of investment;

(b) reviews, evaluates and processes all investment applications and concludes investment agreements in collaboration with other relevant ministries and agencies of Government;

(c) assists in the development of all investment concessions, including those in agriculture, mining, forestry and tourism.

Non-Liberian investors may invest and participate in any business enterprise in Liberia unless otherwise prohibited.

Foreign investors/entrepreneurs may buy the shares of any Liberian business. Any individual/business desiring to engage in a commercial or industrial activity in Liberia should be registered with the Ministry of Commerce and Industry prior to the commencement of business operations.

Individual businesses or individuals wishing to register with the government should firstly submit a letter of application to the Minister of Commerce and Industry stating proposed name, nature, and location of the business.

The following requirements should be obtained:
For a Sole Proprietorship:

> Notary certificate
> Prospectus of the business
> Official revenue receipt (foreign-owned enterprise)
> Official revenue receipt (Liberian-owned enterprise); costs to be determined by the Ministry of     Foreign Affairs

For a Partnership:

> Probated partnership agreement
> Notary certificate
> Properties of business
> Official revenue receipt

For a Corporation:
> Articles of incorporation are to be processed through the Ministry of Foreign Affairs with a revenue    stamp affixed; registration and filling fees to be determined by the Ministry of Foreign Affairs.
> For a corporation established under the laws of Liberia, submission of an authenticated copy of    memorandum of association signed by the incorporators is required.
> For a foreign corporation, submission of documentary evidenced of incorporation and power of    attorney duly notarized by the prospectus.
> Foreign companies must either have a registered agent residing in Liberia or a resident office.

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