Sierra Leone
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Sierra Leone.
Foreign Ownership Eligibility
Sierra Leone welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- 100% foreign ownership permitted in most sectors
- Legal system: Common Law (English tradition)
- Primary registration authority: Corporate Affairs Commission (Sierra Leone)
- Registry website: https://www.cac.gov.sl
- Tax authority: National Revenue Authority (NRA)
- Corporate income tax (CIT): 25% - Source: CIT: 25% (Sierra Leone NRA). VAT: 15%.
- VAT / sales tax: 15%
- Estimated formation timeline: 5-10 days - Via CAC. Source: NRA Sierra Leone
- Annual compliance and renewal obligations apply
Ownership
100% Foreign OK
Formation
100% Remote
Tax at a glance
Sierra Leone Tax Overview
25%
Corporate Income Tax (CIT)
CIT: 25% (Sierra Leone NRA). VAT: 15%.
15%
VAT / Sales Tax
CIT: 25% (Sierra Leone NRA). VAT: 15%.
National Revenue Authority (NRA)
Tax Authority
https://www.nra.gov.sl
Pros & cons
Advantages & Considerations
Key Advantages
100% foreign ownership permitted in most sectors
Legal framework: Common Law (English tradition)
Primary registry: Corporate Affairs Commission (Sierra Leone)
Tax rate: 25% CIT
Incorporated company has access to Sierra Leone market
Considerations
Local professional guidance recommended for regulatory compliance
Banking KYC requirements can be extensive - allow time for account opening
Professional services market may be limited compared to major financial centres
Verify sector-specific restrictions before investing
Currency risk: SLL fluctuations may affect USD-denominated investments
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Name reservation
Prepare incorporation documents
Submit registration application
Tax registration
Open corporate bank account
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Government fees change frequently. Always verify current fee schedule at https://www.cac.gov.sl before committing.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Sierra Leone setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? NO.
Banking options for non-resident founders in Sierra Leone. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| Sierra Leone Commercial Bank (SLCB) | Traditional bank | Low (Visit Required) | |
| Rokel Commercial Bank | Traditional bank | Low (Visit Required) | |
| UBA Sierra Leone | Traditional bank | Low (Visit Required) | |
| Ecobank Sierra Leone | Traditional bank | Low (Visit Required) |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Annual company filing | Ongoing | File annual returns with Corporate Affairs Commission (Sierra Leone) to maintain good standing. |
Corporate income tax return | Ongoing | Submit annual CIT return to National Revenue Authority (NRA). Rate: 25%. |
VAT filing | Ongoing | VAT-registered businesses file periodically. Rate: 15%. Verify threshold with National Revenue Authority (NRA). |
Accounting records | Ongoing | Maintain statutory books per Common Law (English tradition) requirements. |
Beneficial ownership disclosure | Ongoing | Verify current UBO requirements in Sierra Leone. |
Frequently Asked
Speak with a Sierra Leone specialist
Get personalised guidance on entity types, costs, timelines and banking — free, no commitment needed.