Provides information on any manufacturing sectors or services where only citizens or a sub-set of the population in that country are allowed to own or sell.
Last Published: 3/29/2019

The Liberia Investment Act of 2010 imposes general statutory limits and restrictions on foreign ownership of or entry into 16 business activities/enterprises, and sets minimum foreign capital investment thresholds in 12 others.  According to Section 16 of the Act, “Ownership of the following business activities or industries shall be reserved exclusively for Liberians:”

  1. Supply of sand
  2. Block making
  3. Peddling
  4. Travel Agencies
  5. Retail sale of rice and cement
  6. Ice making and sale of ice
  7. Tire repair shops
  8. Auto repair shops with investments of less than US$550,000
  9. Shoe repair shops
  10. Retail sale of timber and planks
  11. Operation of gas stations
  12. Video clubs
  13. Operation of taxis
  14. Importation or sale of second-hand or used clothing
  15. Distribution in Liberia of locally manufactured products, and
  16. Importation and sale of used cars (except authorized dealerships which may deal in certified used vehicles of their make). 
Section 16 continues: “Foreign investors may invest in the following business activities provided that where such of the listed enterprises is owned exclusively by non-Liberians the total capital invested shall not be less than US$300,000; and, where such of the listed enterprises is owned by non-Liberian in partnership with Liberians and the aggregate shareholding of the Liberian is at least 25%, the total capital invested shall not be less than US$300,000:”
  1. Production and supply of stone and granite
  2. Ice cream manufacturing
  3. Commercial printing
  4. Advertising agencies, graphics and commercial artists
  5. Cinemas
  6. Production of poultry and poultry products
  7. Operation of water purification or bottling plants (exclusively the production and sale of water in sachets)
  8. Entertainment centers not connected with a hotel establishment
  9. Sale of animal and poultry feed
  10. Operation of heavy duty trucks
  11. Bakeries, and 
  12. Sale of pharmaceuticals.

The Act also stipulates that, “For enterprises owned exclusively by non-Liberians, the total capital invested shall not be less than USD $500,000.  For enterprises owned in partnership with Liberians and the aggregate shareholding is at least 25 percent, the total capital invested shall not be less than USD $300,000.”  In January 2018, a bill entitled “Business and Economic Empowerment Act” was submitted to the lower house of the legislature seeking to reinforce and expand Section 16 of the Investment law.  The draft bill sets the minimum capital threshold at $2 million and mandates 30 percent Liberian ownership for foreign investors to engage in the restricted sectors.  The draft law, which is pending legislative enactment, also mandates that Liberians must hold at least 30 percent of the senior management positions in the enterprise.

 

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Liberia Trade Development and Promotion