Question 1

Can a foreigner own a company in Sierra Leone?

Accepted Answer

The United States Investment Climate Statement records few specific restrictions on foreign ownership of Sierra Leonean companies, subject to registration formalities. The stated exception is mining investment of less than USD 500,000, which requires a 25 per cent Sierra Leonean holding. Foreign ownership of land is restricted. Foreign nationals and foreign companies lease rather than own. Ownership is separate from incentive eligibility. The general corporate tax exemption on the SLIEPA incentives list applies to a business with at least 20 per cent Sierra Leonean ownership, a workforce of at least 100 and an investment of at least USD 5 million for five years, or a workforce of at least 150 and USD 7.5 million for ten years. So the practical answer is: yes, a wholly foreign-owned company is possible outside small mining, but some incentives are conditioned on local participation, and land is held on lease. Deciding the ownership structure before deciding which incentives matter gets the order wrong.

Question 2

Are there local hiring requirements for foreign businesses?

Accepted Answer

The Investment Climate Statement records that under the Local Content Agency Act 2016, foreign businesses must employ Sierra Leoneans in at least 20 per cent of managerial and 50 per cent of intermediate positions, rising after five years to 60 per cent and 80 per cent. The Act is reported to apply across mining, industrial, petroleum, manufacturing, agriculture, transport, maritime, aviation, tourism, public works, fisheries, health and energy. These ratios shape the hiring plan from day one, and they escalate. A staffing model built for year one that ignores the year six ratios will need rebuilding.

Question 3

How do you register a company in Sierra Leone?

Accepted Answer

Companies are incorporated and registered by the Corporate Affairs Commission, which administers the Companies Act 2009 and maintains the companies registry. The Companies Act 2009 provides for private companies, public companies and companies limited by guarantee, and sets the requirements for the memorandum, name and share capital. Tax registration is a separate step. A Taxpayer Identification Number is issued by the National Revenue Authority, and importers must also register with the National Investment Board. The market briefing names each institution and what it does. The point to hold onto here is sequence: incorporation first, then the TIN, then any sector licence, then investor registration if incentives are sought. Each body will ask for the previous one’s paper.

Question 4

What investment incentives exist, and who qualifies?

Accepted Answer

SLIEPA lists sector incentives including a ten-year income tax exemption for rice and tree-crop farming, an income tax exemption of up to five years for tourism undertakings capped at 150 per cent of capital invested, and three years of duty-free import of plant and machinery for a new business investing at least USD 10 million or an existing one expanding by at least USD 5 million. Large-scale agribusiness incentives are conditioned on scale: a foreign investor irrigating at least 500 hectares, cultivating at least 2,500 hectares, or investing at least USD 1 million in livestock.

Question 5

What mining licences exist in Sierra Leone, and how long do they last?

Accepted Answer

The National Minerals Agency describes four tenable licences under the Mines and Minerals Development Act 2022. A reconnaissance licence covers up to 10,000 square kilometres for one year, renewable once. An exploration licence covers up to 175 square kilometres for three years, with a first renewal of two years. A small-scale mining licence covers up to 200 hectares for four years. A large-scale mining licence covers up to 125 square kilometres, granted for an initial 25 years and renewable for 15. The area limits matter as much as the durations. A counterparty describing a “concession” larger than these limits, or a small-scale licence held for longer than four years without renewal, is describing something the regulator does not issue.

Question 6

What does it take to export gold from Sierra Leone?

Accepted Answer

A gold exporter’s licence runs for twelve months or six months. The Director of Mines verifies the application and forwards it to the Permanent Secretary for recommendation of approval by the Minister. An applicant may be an individual of any nationality or a registered company. Non-ECOWAS citizens require residential and work permits. Applicants must show evidence of foreign currency accounts in accredited commercial banks in Sierra Leone, and pay the prescribed standard assessment tax. An exporter may buy only from a licensed dealer or a dealer’s agent, and may employ no more than five buying agents approved by the Director of Mines. Renewal requires evidence of the previous year’s purchases and exports. A dealer’s licence is approved by the Director of Mines. A dealer buys only from artisanal or small-scale mining licence holders and sells to any exporter, and contributes to prescribed monitoring and rehabilitation funds. The functions of the former Government Gold and Diamond Office now sit within the National Minerals Agency as the Department of Precious Minerals Trading, which regulates the trade and oversees diamond trading consistent with the Kimberley Process. The chain is deliberately closed: miner to dealer to exporter, each licensed, each buying only from the tier below. Anyone offering to sell you export-ready gold outside that chain is, by the regulator’s own structure, not a lawful seller. This is the single most useful test to apply to an offer.

Question 7

What is the corporate income tax rate in Sierra Leone?

Accepted Answer

Parliament enacted the Finance Act 2026 on 26 November 2025. The Sierra Leone News Agency reports the Minister of Finance indicating an income tax rate increase. Orbitax reports the Act restoring the corporate income tax rate to 30 per cent from 25 per cent, increasing withholding tax on payments to non-residents from 15 to 20 per cent, expanding the minimum alternate tax to all companies and abolishing the investment allowance. The withholding change lands directly on any foreign parent charging fees, interest or royalties to a Sierra Leonean subsidiary. Model it before signing the intercompany agreements, not after.

Question 8

What documents does an import into Sierra Leone need?

Accepted Answer

The United States commercial guide, published 23 January 2026, lists a commercial invoice, bill of lading or air waybill, packing list, certificate of origin, import declaration form, a pre-shipment inspection certificate for certain goods, and sanitary or phytosanitary certificates where applicable. Customs is administered by the National Revenue Authority through ASYCUDA World, with an electronic single window for submitting documents to multiple agencies through one portal. Pharmaceuticals, chemicals, petroleum products and food need special permits or licences. Get the HS classification right before the goods ship. It decides the duty, and it decides whether a pre-shipment inspection certificate is required, and a certificate that should have been obtained at origin cannot be obtained at Freetown.

Question 9

Do I need a visa to visit Sierra Leone for business?

Accepted Answer

The UK Foreign, Commonwealth and Development Office states that a visa is required. It can be obtained on arrival for 80 US dollars in cash, or in advance as an e-visa at evisa.sl. The passport must have an expiry date at least six months after the visa application date. A yellow fever vaccination certificate is required to enter. All travellers must complete a health declaration on the Sierra Leone Health Travel Portal within 72 hours before departure and present the confirmation on arrival. Carry the 80 dollars in clean US notes even if you hold an e-visa. Arrival halls are not the place to discover a system is down. ECOWAS nationals are exempt from the visa requirement.

Question 10

How do I verify a Sierra Leonean company or a mining licence?

Accepted Answer

Company existence is checked against the Corporate Affairs Commission registry, which the Commission maintains under the Companies Act 2009. Mineral rights are administered by the National Minerals Agency through its Mining Cadastre Office, and dealer and exporter licences are approved through the Director of Mines. Three checks, in this order: does the entity exist at the CAC; does the licence exist at the NMA in that entity’s name; does the licence type and area match what is being described. A counterparty who resists the third check has usually failed it already.

Doing Business in Sierra Leone