Liberia
Corporate Guide

Is there a requirement to declare beneficial ownership in Liberia?

Yes. The Associations Law requires that corporations with shareholders include the names and addresses of the shareholders in their articles of incorporation. 

The pertinent part of the law reads:

“Every domestic corporation and foreign corporation authorised to do business in Liberia shall keep up-to-date records containing the names and addresses of all registered shareholders and beneficial owners, the respective number and class of shares held by each and the dates of ownership thereof ... A resident domestic corporation shall keep the records required to be maintained by this subsection in the Republic of Liberia.”

Limited liability companies are required to keep records containing the names and addresses of all members. Partnerships must keep records of their partners. There is no regular statutory duty to disclose members or partners unless the government requests said records. At such time, relevant records of beneficial owners, members or partners must be disclosed.

In our Associations Law, the term “beneficial owner” is used for control over a corporation. A “member”, however, is a person acquitting a limited liability company’s interest. A partner has an interest in a partnership.