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Liberia, formally the Republic of Liberia, is a West African nation. It is bounded to the northwest by Sierra Leone, to the north by Guinea, to the east by Ivory Coast, and to the south and southwest by the Atlantic Ocean. It has a population of around 5 million people and an area of 111,369 square kilometers (43,000 sq mi). The official language is English, although more than 20 indigenous languages are spoken, reflecting the country's ethnic and cultural diversity. Monrovia is the country's capital and biggest city.
Liberia originated as a project of the American Colonization Society (ACS), which felt that black people would have greater possibilities for freedom and wealth in Africa than in the United States. Between 1822 and the commencement of the American Civil War in 1861, more than 15,000 emancipated and free-born black people, as well as 3,198 Afro-Caribbeans, fled to Liberia to escape social and legal persecution in the United States. The immigrants gradually developed an "Americo-Liberian" identity, bringing their culture and history with them; the Liberian constitution and flag were fashioned after those of the United States, and the capital was named after ACS backer and United States President James Monroe. Liberia proclaimed independence on July 26, 1847, but the United States refused to acknowledge it until February 5, 1862. After the Liberians declared independence on January 3, 1848, Joseph Jenkins Roberts, a rich, free-born African American from the United States state of Virginia who had moved to Liberia, was chosen as Liberia's first president.
Liberia was the first African republic to declare independence, and it is the continent's first and oldest modern republic. It was one of the few African nations that kept its independence during the Scramble for Africa. During World War II, Liberia backed the United States' war effort against Germany, and as a result, the nation received significant American investment in infrastructure, which benefited its riches and growth. Liberia was a founder member of the League of Nations, the United Nations, and the Organization of African Unity, and President William Tubman pushed economic and political improvements that increased the country's wealth and worldwide image.
The indigenous peoples they met, particularly those living in the more secluded interior, were not warmly received by the Americo-Liberian immigrants. The Kru and Grebo invaded colonial communities from their interior chiefdoms. Americo-Liberians encouraged religious groups to establish missions and schools to educate the indigenous people. Americo-Liberians created a tiny elite with disproportionate political influence; indigenous Africans were denied birthright citizenship in their own country until 1904.
Political tensions from William R. Tolbert's administration ended in a military coup in 1980, during which Tolbert was assassinated, thereby ending Americo-Liberian authority in the nation and ushering in nearly two decades of political turmoil. The First and Second Liberian Civil Wars followed five years of military administration by the People's Redemption Council and five years of civilian governance by the National Democratic Party of Liberia. This led to the deaths of 250,000 people (about 8% of the population) and the relocation of many more, as well as a 90% decrease in Liberia's economy. A 2003 peace accord resulted in democratic elections in 2005, in which Ellen Johnson Sirleaf was elected president, becoming the continent's first female president. The wars, as well as the 2013–2016 Ebola virus pandemic, significantly harmed national infrastructure and basic social services, with 83 percent of the population living below the international poverty level in 2015.
An employee may be discharged if he or she commits a "serious breach of duty" or demonstrates a "complete inability to function." Unprovoked assault on the employer; repeated contempt for employer-imposed safety precautions; and revelation of firm working secrets are all examples of "gross breach of duty."
Employers may terminate an employee's employment contract if they offer at least two weeks written notice if the employee is a casual employee and four weeks if the employee is a salaried employee. Compensation may be paid in lieu of notice. Employees who commit a flagrant breach of duty, on the other hand, may be terminated without notice or severance compensation.
Employers may terminate employment contracts with at least two weeks written notice (casual employee) or four weeks written notice (permanent employee) (salaried employee). Compensation may be paid in lieu of notice. Employees who commit a flagrant breach of duty, on the other hand, may be terminated without notice or severance pay.
Probationary periods are at least one month in length and cannot exceed three months under Liberian employment law.
Unless they commit a heinous act of misconduct, employees are entitled to severance pay in the amount of their remaining wages due. Employees may also be entitled to redundancy or severance pay if their employer declares bankruptcy or enters liquidation.
Working hours may not exceed eight hours per day or forty-eight hours per week. Additionally, employees are entitled to a weekly rest period of 24 hours uninterrupted.
A national minimum wage does not exist in Liberia. Rather, this wage is determined by the type of employee. Unskilled laborers, for example, must be paid at least 15 Liberian dollars per hour, while civil servants must be paid at least 5,600 Liberian dollars per month.
Certain Liberian labor unions wield more clout in the country and are negotiating or have already achieved wage increases. The United Workers Union of Liberia (UWUL) and ArcelorMittal Liberia (AML) recently signed a labor contract that will raise wages by 14.5 percent for miners, forklift drivers, and other workers.
Paid time off is only available to workers who have been with the business for at least three years. Employees get two weeks of paid vacation after three years, and four weeks after five years.
Female workers should be entitled to three months of full-pay maternity leave. These women are not permitted to be dismissed for any reason connected to their pregnancy. There is no legislative paternity leave policy in Liberia, nor is there any mandated sick leave.
Companies in Liberia are imposed a corporate tax rate of 25 percent.
Liberia does not impose an individual income tax.
Liberia does not impose a value-added tax (VAT) or goods and sales tax (GST).
According to the Liberia visa and Health Declaration rules, certain people who want to visit this nation must apply for a Liberia visa or Health Declaration before arrival. This visa was developed to provide the government of the Republic of Liberia the ability to enable foreigners to enter their nation.
The Liberia visa and Health Declaration is part of the Liberia visa policy that allows tourists to enter the country. Upon acceptance, tourists may enter Liberia, travel through or reside in Liberia, and depart Liberia, subject to the visa's conditions.
Specific necessary parts must be completed in order to obtain the Liberia visa and Health Declaration, and the application being filed and requesting approval will be reliant on certain facts. The nation from which the passenger holds a passport, the amount of time the traveler plans to remain, and the purpose for the visitor's entry into Liberia are all required information.
The Republic of Liberia established the Liberia visa and Health Declaration, which is accessible to residents of numerous countries. The visa permits visitors to visit Liberia for tourism reasons and allows them to remain in the Republic of Liberia for up to 90 days per entry.
This is a streamlined procedure that may be performed online. Once accepted, this visa will be presented to immigration authorities upon arrival in Liberia at the point of entry.
There are several countries that are excluded from the Liberia visa policy, and its citizens will not need to apply for a visa before visiting the country. Many nations are excluded, including Benin, Burkina Faso, Cape Verde, Côte d'ivoire, Gambia, Ghana, Guinea, Guinea-Bisseau, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.
The Liberia visa policy includes just one major visa. Travelers who want to visit Liberia but do not have a passport that qualifies for visa exemption must apply online.
Employment contracts in Liberia may be oral or written, but it is essential to have a robust, written contract in English that specifies clearly the conditions of the employee's remuneration, benefits, and termination criteria. In Liberia, an offer letter and job contract should always mention the salary and any other remuneration amounts in Liberian Dollars rather than a foreign currency.
There is no set length for assignments. This is usually indicated in the employment contract for fixed-term employments.
When your firm begins to examine how to establish a Liberia subsidiary, you should check into foreign investment limitations in Liberia. The government has stringent laws in place for businesses like as stone and granite manufacture, ice making, commercial printing, theaters, poultry products, and others. To engage in these areas, foreign investors must have at least $500,000, or $300,000 if they have a Liberian partner. In addition, infrastructure might be difficult to come by, and only Liberians can buy, rent, or lease property.
Another key element is location, since various cities and regions may have varying prices, availability, and laws. If you are unfamiliar with the various locations, you will need to locate an accountant, legal adviser, or consultant who can identify the finest spots in the nation for incorporation.
Greatest businesses choose to register as a limited liability company (LLC) because it provides them with the most flexibility in operating in Liberia. The following are the processes to establishing your Liberia subsidiary as an LLC:
1. Obtaining a one-of-a-kind business name from the Liberian Business Registry (LBR) assistance desk
2. Submitting the application for business registration to the LBR
3. Obtaining a Federal Tax Identification Number (TIN)
4. Obtaining a certificate of business registration
Other entities in Liberia, such as a private foundation, a foreign maritime entity (FME), and a branch office, have different criteria than LLCs. To complete the incorporation procedure, you will require one director and one shareholder of any country. The required minimum paid-up share capital is $500,000.
A limited liability company (LLC) must designate a registered agent and have a lawful registered address in Liberia. All Liberian corporations are required by law to designate LISCR Trust Company as their registered agent, however they are not required to produce yearly audited financial accounts.