Doing Business with Sierra Leone

A comprehensive guide to doing business, exporting, investing, and manufacturing in Sierra Leone.

Foreign Direct Investment with the International Trade Council / Company Incorporation / Company Formation

Sierra Leone Investment and Export Promotion Agency (SLIEPA)

Tel: +232-75-550-211
Email: info@sliepa.gov.sl
Web: sliepa.gov.sl

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National Revenue Authority - Customs and Excise Department

Tel: +232 2222 1474
Email: info@nra.gov.sl
Website: nra.gov.sl

National Chamber of Commerce

Sierra Leone Chamber of Commerce, Industry and Agriculture

Tel: +232 80 102 030
Email: info@slccia.sl
Website: slccia.sl

Ministry of Economy Information from the International Trade Council - a Peak-body - international chamber of commerce

Ministry of Finance

Email: info@mof.gov.sl
Website: mofed.gov.sl

  • Type of Government: Presidential republic
  • Population: Approximately 8 million
  • GDP: Around $4 billion USD
  • Corporate Tax Rate: 30%
  • Personal Income Tax Rate: Progressive rates up to 30%
  • Major Exports: Diamonds, rutile, cocoa, coffee
  • Major Imports: Machinery, vehicles, foodstuffs, petroleum products

 

Exporting goods to Sierra Leone involves several key steps. Here’s a comprehensive guide:

  1. Research Market Requirements

    • Understand Sierra Leone’s import regulations and product standards.
  2. Identify Your Product’s HS Code

    • Determine the Harmonized System (HS) code for tariff and regulation details.
  3. Prepare Documentation

    • Gather necessary export documents: commercial invoice, packing list, certificate of origin, and bill of lading.
  4. Check Tariff and Non-Tariff Barriers

    • Verify any tariffs and ensure compliance with non-tariff measures.
  5. Select a Reliable Freight Forwarder

    • Choose a logistics provider experienced in shipping to Sierra Leone.
  6. Comply with Labeling and Packaging Regulations

    • Ensure your products meet local labeling and packaging standards.
  7. Arrange for Insurance

    • Secure insurance to cover potential shipping risks.
  8. Submit Customs Declaration

    • Work with your freight forwarder to submit the necessary customs declaration.
  9. Track and Confirm Delivery

    • Monitor the shipment to ensure it reaches the destination safely.

Key Contacts

  • Sierra Leone National Revenue Authority
  • Sierra Leone Investment and Export Promotion Agency

Importing goods into Sierra Leone involves several key steps. Here’s a detailed guide:

  1. Research Import Regulations

    • Familiarize yourself with Sierra Leone’s import laws and product-specific regulations.
  2. Obtain Necessary Licenses

    • Determine if your products require special import licenses or permits.
  3. Classify Your Goods

    • Identify the Harmonized System (HS) code for your products to understand tariffs and duties.
  4. Prepare Documentation

    • Gather required documents: commercial invoice, bill of lading, packing list, and certificate of origin.
  5. Choose a Customs Broker

    • Hire a licensed customs broker to assist with the import process.
  6. Comply with Labeling and Packaging Standards

    • Ensure products meet local labeling and packaging requirements.
  7. Submit Customs Declaration

    • File a customs declaration with the Sierra Leone National Revenue Authority.
  8. Pay Duties and Taxes

    • Calculate and pay any applicable import duties and taxes.
  9. Arrange for Transportation and Delivery

    • Coordinate with a logistics provider to transport goods to their final destination.

Key Contacts

  • Sierra Leone National Revenue Authority
  • Sierra Leone Investment and Export Promotion Agency

Incorporating a company in Sierra Leone involves several key steps. Here’s a detailed guide:

  1. Choose a Business Structure

    • Decide on the type of company, such as a Limited Liability Company (LLC).
  2. Reserve a Company Name

    • Reserve your company name with the Corporate Affairs Commission (CAC).
  3. Prepare Incorporation Documents

    • Draft the Memorandum and Articles of Association and other required documentation.
  4. Register the Company

    • Submit your incorporation documents to the CAC.
  5. Pay Registration Fees

    • Pay the required registration fees. Costs vary based on the company type and capital.
  6. Obtain a Tax Identification Number (TIN)

    • Register with the National Revenue Authority for a TIN.
  7. Register for Social Security

    • Enroll employees with the National Social Security and Insurance Trust (NASSIT).
  8. Apply for Business Licenses

    • Obtain any necessary business licenses from relevant authorities.

Costs

  • Registration Fees: Varies based on capital and company type. Check with the CAC for specifics.

Key Contacts

Setting up a manufacturing plant in Sierra Leone involves several key steps. Here’s a detailed guide:

  1. Conduct a Feasibility Study

    • Assess market demand, location suitability, and resource availability.
  2. Choose a Business Structure

    • Decide on the type of business entity, such as a Limited Liability Company (LLC).
  3. Register the Company

    • Register your business with the Corporate Affairs Commission (CAC).
  4. Secure Financing

    • Arrange funding through banks or investors.
  5. Select a Location

    • Choose an industrial area with access to necessary infrastructure and resources.
  6. Obtain Necessary Permits and Licenses

    • Apply for construction permits and environmental approvals from relevant authorities.
  7. Design and Construct the Facility

    • Hire architects and contractors to design and build the plant according to regulations.
  8. Purchase and Install Equipment

    • Acquire machinery that meets safety and operational standards.
  9. Hire and Train Employees

    • Recruit skilled workers and provide necessary training.
  10. Set Up Supply Chain and Distribution

    • Establish relationships with suppliers and distributors.

Key Contacts

Registering a trademark in Sierra Leone involves several key steps. Here’s a detailed guide:

  1. Conduct a Trademark Search

    • Ensure your trademark is unique by searching the database at the Office of the Administrator and Registrar-General.
  2. Prepare Your Application

    • Gather necessary details, including the trademark design and list of goods/services.
  3. Submit the Application

    • File your application with the Office of the Administrator and Registrar-General.
  4. Pay the Application Fee

    • Pay the required fees for trademark registration. Contact the office for current rates.
  5. Application Examination

    • The office examines the application for compliance and potential conflicts.
  6. Publication for Opposition

    • If approved, the trademark is published for a period during which others can oppose it.
  7. Receive Registration Certificate

    • If no oppositions are filed, you receive the official trademark registration certificate.

Costs

  • Application Fee: Costs vary; contact the Office of the Administrator and Registrar-General for specifics.

Key Contacts

Resolving commercial disputes in Sierra Leone involves several key steps. Here’s a detailed guide:

  1. Consult Legal Counsel

    • Engage a lawyer experienced in Sierra Leonean commercial law for guidance.
  2. Attempt Negotiation

    • Try to resolve the dispute amicably through direct negotiation with the other party.
  3. Mediation

    • Consider mediation through a neutral third party to facilitate a resolution.
  4. Arbitration

    • Use arbitration for a binding resolution if both parties agree.
  5. Litigation

    • If other methods fail, file a lawsuit in the Commercial Court of Sierra Leone. Prepare for a formal legal process.
  6. Enforcement of Judgments

    • Ensure the decision is enforced through the relevant authorities.

Costs

  • Legal Fees: Vary depending on the complexity and length of the dispute.
  • Court Fees: Required for litigation and depend on the case specifics.

Key Contacts

When considering business in Sierra Leone, it’s important to understand various factors:

Social and Cultural Factors

  • Language: English is the official language; Krio is widely spoken.
  • Business Etiquette: Formality in meetings is common; building trust and relationships is key.

Political Factors

  • Government: Presidential republic.
  • Stability: Political environment is generally stable, with ongoing efforts to improve governance.

Economic Factors

  • Currency: Sierra Leonean Leone (SLL).
  • Key Industries: Mining, agriculture, and fisheries.

Foreign Exchange

  • Exchange Rate: The Leone can be volatile; businesses should monitor rates closely.

Rule of Law

  • Legal System: Based on English common law; commercial disputes are handled in the Commercial Court.
  • Intellectual Property: Protection efforts are ongoing, aligned with international standards.

Infrastructure

  • Transport: Developing road and air networks; ports are crucial for trade.
  • Utilities: Electricity and water supply can be inconsistent in some areas.

Key Contacts

Our Members Include Leading Organizations in Sierra Leone

Ask our Experts on Doing Business in/with Sierra Leone

If you’re looking to do business or invest in Sierra Leone, we can provide expert guidance, market insights, and valuable connections to help you navigate the local landscape. Contact us today to discover how we can assist in making your venture a success.