The Gambian Constitution guarantees the right of private ownership. Under the Company Act of 1955, there are no restrictions on the minimum or maximum share capital of a business venture, nor is there any compulsory requirement for equity participation by Gambian nationals in foreign-owned enterprises, except as described in Paragraph 10 in relation to privatization programs. Businesses may be wholly owned by foreigners or jointly owned with participation by local investors. Organizational forms include:
- limited liability companies;
- unlimited companies;
- guarantee companies;
- institutions established by act of the National Assembly (e.g., parastatals);
- branches of foreign businesses; and
- sole proprietorship.
In those sectors where private businesses are in competition with public enterprises, there is no undue discrimination with regard to access to markets, credit, and other business facilities, such as licenses and supplies.