Gambia
Corporate Guide

What are the different types of companies that can be incorporated in Gambia?

Under section 7 of the Act, an incorporated company may be: 

• A company limited by shares: This is a company where the liability of its members is limited by the memorandum of association to the amount, if any, unpaid on the shares respectively held by them.
• A company limited by guarantee: This is a company whose member's liability is limited by the memorandum of association to the amount they agree to contribute to the company's assets if it is wound up. 

An unlimited company

This is a company whose members' liability is not limited.

A registered association

This is a non-profit registered charitable association. 

Private company

A private company is defined in section 8 of the Act as a company whose memorandum of association states that it is a private company. A private company also displays the following characteristics:

• It restricts the right to transfer its shares e.g. existing members are usually given the right to buy shares before outsiders.
• The members do not exceed 50.
• It does not invite the public to subscribe for any shares or debentures of the company unless authorised by law.

Public Company

This is not specifically defined by the Act. Rather, section 10 of the Act implies that a company other than a private company and whose memorandum of association states so, is a public company.