Sierra Leone

Starting a Business in

Sierra Leone

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income (GNI).

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Limited Liability Company
  • City: Freetown

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No. Procedure Time to Complete Associated Costs
1 Check the uniqueness of the company name and pick up a company registration form

The company name search is conducted by the applicant and with assistance of an officer from the Office of the Administrator and Registrar General ( OARG).
The company must have a Memorundum and Articles of Association. Standard articles are available at OARG.if the standard documents are considered insufficient, a soliciter canbe consulltedto prepare one.
1 day SLL 10,000
2 Registration with the Registrar of Companies at the Office of the Administrator and Registrar General ( OARG)

Submission of the company's documents to the OARG officer starts the incorporation process. the officer examines the documents and issues a apyment slip to pay for incorporation fees. Register an LLC costs no more than 120,000L (one time fee) + stamp duty which ranges from Le 75,000.00 to Le 495,000 depending on the share capital which does not have to be paid up. The officer issues the Certificate of Incorporation upon submission of the payment receipt.
2-3 days SLL 405,000
3 Obtain Tax Identification Number (TIN) from the National Revenue Authority

The TIN number can be obtained from the National Revenue Authority desk located at the Office of the Adiministrator and Registrar General.
1 day no charge
4 Request a Business license with the Municipality of Freetown

A business license and registration certificate is obtained from the desk Freetown City Council at the one-stop shop at the Office of the Administrator and Registrar General (OARG) after obtaining the TIN number from the National Revenue Authority.
2 days SLL 750000
5 Registration with the Ministry of Labor and Social security

It is required notify the Ministry of Labor through an Employment Exchange, to which employers (the company) may announce their vacancies and at which job seekers may file employment applications.
4 days no charge
6 Make a company seal

According to the Companies Act, the company must make a formal seal and a common seal. For documents used outside Sierra Leone, the formal seal is used for sealing company documents. This seal is usually embossed on documents with a metal device on which the company’s name, crest, and the like are engraved. For documents to be used in Sierra Leone, an impression is made with a common seal, which is usually made in ink with a wooden (or rubber) block.
2 days SLL 50,000
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