Registering a Company

The Companies Act 2009 (Act No. 5 of 2009) governs company formation in Sierra Leone. The Corporate Affairs Commission (CAC) is the registrar. A private limited liability company — the most common structure for foreign investors — can be formed with just one shareholder and one director, both of any nationality, with no residency requirement in Sierra Leone.

The Act specifies a nominal share capital of not less than Lc1,000,000 for a private company — equivalent to Le 1,000 after the 2022 redenomination — with 25 percent taken by subscribers. In practice, the National Investment Board states there is no minimum paid-in capital requirement for private companies, and a nominal figure is typically used at registration. The articles of association must specify the nature of the business activities.

Registration is available through the National Investment Board's One-Stop Business Registration Centre or directly with the Corporate Affairs Commission. The typical timeline is 3–5 working days through the NIB, or 2–4 weeks if incorporating directly with the CAC. Registration fees vary by business type and size; check the official fee schedule. After incorporation, a Tax Identification Number (TIN) is issued, and a municipal business licence — initially valid for six months — is required before operations begin.

Foreign investors often use corporate service providers to handle registration. The documents required include a valid ID or passport, business name approval, a completed application form, and payment receipt.