The ISO code of Liberia is LR according to the ISO 3166 standard. The local name of the country is the same as its English name. Liberia capital city is Monrovia. People in Liberia speak the English language. On 26 July 1847, Liberia emerged as a sovereign political entity. In the year 07/26/1847, Liberia emerged as a sovereign political entity. The largest city in Liberia is Monrovia.
Liberia is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Liberia is .lr. The International dialing code for Liberia is 231. People in Liberia drive on the right side of the road. Total land area of Liberia is 111,369 km² (approx. 43,000 mi²). Liberia is not a landlocked country. It means that is is bordered by at least one major body of water.
Liberia is located in Africa. Liberia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Liberia faces various issues, including tropical rain forest deforestation, soil erosion, loss of biodiversity, pollution of coastal waters from oil residue and raw sewage.
Doing business in Liberia
We offer various corporate services in Liberia jurisdiction. These services can serve both, people coming from Liberia and foreigners. If you plan on doing business in Liberia you might be interested in contacting us.
To find out about starting your business in Liberia click on company formation in Liberia.
To find out how to open a bank account in Liberia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Liberia.
Choose preferred service below or continue reading to find out more about Liberia.
Demographics of Liberia
The total population of Liberia is 4,853,516 people. In Liberia, the population density is 36 people per square kilometer (94 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is very diverse according to a fractionalization scale which for Liberia is 0.9084. Liberia has approximately 225484 foreign immigrants. The median age is approximately 17.9 years. In Liberia, 3.79 in every 100 people use internet. Liberia has a Human Development Index (HDI) of 0.412.
The majority religion of Liberia is Christianity, Liberia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Liberia.
Culture of Liberia
People in Liberia speak the English language. One of the most popular national dishes of Liberia is fufu. To read more click on culture of Liberia.
Geography of Liberia
Liberia is considered to be a large nation because of its total area. Its total land area is 111,369 km² (approx. 43,000 mi²). Liberia is located in Africa. Its capital city is Monrovia. Liberia has 3 neighbouring countries. Its neighbours include Guinea, Côte d'Ivoire, and Sierra Leone. Total length of land borders of Liberia is 1667 kilometers (~644 miles).
The highest point of Liberia is Mount Wuteve, with its official height being 1440 m (4,725 ft). Including land mass and EEZ, the total area of Liberia is approximately 361,103 km² (~139,422 mi²). The most notable natural resources found in Liberia are iron ore, timber, diamonds, gold, hydropower.To read more click on geography of Liberia.
Economy of Liberia
The currency of the country is Liberian dollar. The symbol used for this currency is $, and it is abbreviated as LRD. 2.4% of population in the country are unemployed. The total number of unemployed people in Liberia is 116,484. Each year, Liberia exports around $0.93 billion and imports roughly $2.46 billion. The Gini Index of the country is 38.2. Liberia has a Human Development Index (HDI) of 0.412.The Global Peace Index (GPI) for Liberia is 1.963. Liberia has a government debt of 25.8% of the country's Gross Domestic Product (GDP), as assessed in 2013. Liberia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are mining (iron ore), rubber processing, palm oil processing, timber, diamonds.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Liberia is $3,711 billion. Each year, consumers spend around $1,578 million. The ratio of consumer spending to GDP in Liberia is 0%, and the ratio of consumer spending to the world consumer market is 0.0045. The corporate tax in Liberia is set at 25%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Liberia is 7%, and it is known as Goods and Services Tax. In 2013, Liberia received 570.9 million USD in foreign aid.In 2014, the foreign aid amounted to 764.8 USD.To read more click on economy of Liberia.
Infrastructure of Liberia
Infrastructure quality in Liberia is rated to be at 2.57. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Liberia, 9.8% of the population has access to electricity. There are 7 internet hosts in Liberia. Liberia has 29 airports nationwide.
The logistics performance index of Liberia is 2.62. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.57. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Liberia is 290. To read more click on infrastructure of Liberia.
Politics of Liberia
Liberia, is a unitary presidential republic. With regard to political and civil freedoms, Liberia is 2. Citizens in Liberia experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Liberia, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is George Weah.
According to the World Bank Group, the government effectiveness index of Liberia is -1.37. This indicates that the government of Liberia is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Liberia, the legislative power is vested in a Legislature. The Global Peace Index (GPI) for Liberia is 1.963. The strength of legal rights index for Liberia is 8. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Liberia received 570.9 million USD in foreign aid. In 2014, the foreign aid amounted to 764.8 USD. Liberia is a member of the United Nations (UN). On 2 November 1945, it joined the UN at it inception date as a full member state. Liberia is one of the original UN member states who founded the organization. Liberia is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Liberia is a member of the World Bank. To read more click on politics of Liberia.
Environment of Liberia
Liberia emits 0.2 metric tons per capita of CO2. 31540 km² of Liberia's territory is covered in forests. and forest land comprises 28% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Liberia is 290. To read more click on environment of Liberia.
Company formation in Liberia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Liberia.
When establishing a company in Liberia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Liberia that will affect the establishment and growth of one's business. Contact us or click on company formation in Liberia to read additional information when setting up a business.
Bank account opening in Liberia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Liberia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Liberia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Liberia or contact us.