Dear Friends and Colleagues,
It gives me great pleasure to announce that the Liberian legislature has passed an amendment to the Associations Law aimed at maintaining its White-Listed Jurisdiction status with the Organization for Economic Cooperation and Development (OECD) and addressing their Phase 1 report findings.
While codifying what is already common practice, the Amendment addresses ownership and identity information requirements, and the standard for maintenance of accounting records, without causing any increased burden on administration. The Amendment effectively clarifies the international standards for, and defines the obligations of, corporate governance, outside of the requirements of the Registry.
The Amendment also repealed the obsolete legislation relating to registered business corporations.
The passage of this Amendment marks a positive milestone for Liberia and its corporate clients as it modernizes its legal system to conform to the OECD requirements along with the 134 other member countries which have done or are currently doing the same.
A copy of the Amendment can be viewed here.
As always my office and I make ourselves available for any questions or required assistance.
Yours Sincerely,
Hilary Spilkin
Liberian Corporate Registry