Corporate Law at Gambia
Certainly! Here’s an overview of Corporate Law in The Gambia:
🇬🇲 Corporate Law in The Gambia – Overview
1. Legal Framework
The Gambia’s corporate law is primarily governed by the Companies Act, 2013 (latest major update).
The legal system is based on English common law principles.
The Companies Act regulates company formation, management, and dissolution.
2. Types of Companies
The main types of companies recognized include:
Private Company Limited by Shares (most common).
Public Company Limited by Shares (can offer shares to the public).
Company Limited by Guarantee (typically for non-profit organizations).
Unlimited Company.
Foreign Companies can register as branches or subsidiaries.
3. Incorporation Process
Companies must register with the Registrar of Companies.
Key documents required:
Memorandum of Association.
Articles of Association.
Details of directors and shareholders.
Minimum of one director and one shareholder.
The company name must be unique and approved by the Registrar.
4. Corporate Governance
Directors manage the company and owe fiduciary duties.
Annual general meetings and filing of annual returns with financial statements are mandatory.
Companies must keep proper accounting records.
Shareholders have rights and protections under the Companies Act.
5. Foreign Investment
The Gambia encourages foreign investment, allowing 100% foreign ownership.
Investment incentives include tax holidays and customs exemptions.
Businesses in certain sectors may require additional licenses or approvals.
6. Dispute Resolution
Commercial disputes are resolved by the High Court and specialized commercial courts.
Arbitration is available under Gambian law.
The Gambia is a member of various regional economic communities, influencing its trade and commercial laws.
If you want, I can provide details on:
Step-by-step company registration in The Gambia.
Tax implications for companies.
Specific rules for foreign investors.
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