10 steps to incorporating in Sierra Leone in 2024

PRE-INCORPORATION STEPS

1. Client commitment and due diligence: Prior to incorporating a legal entity in Sierra Leone, Healy Consultants expects Clients to i) settle the Healy Consultants engagement process fee ii) sign and return the Client engagement agreement letter and iii) provide all the required due diligence documents;
2. Planning phase: Healy Consultants drafts a detailed company incorporation engagement project plan mapping out a step by step incorporation engagement process and corporate bank account opening process in order to optimize transparency and to set the Client’s expectations towards the engagement completion;
3. Company name reservation: Healy Consultants Sierra Leone Incorporation Team through the assistance of an officer from the Office of the Administrator and Registrar General (OARG) checks the availability of the proposed company name to verify its uniqueness and proceeds to reserve the same at OARG;

INCORPORATION STEPS

1. Corporate documents preparation: Healy Consultants legal department drafts and submits the proposed company’s Memorandum and Articles of Association as required by the Registrar General;
2. Company registration: Healy Consultants then i) submits all company documents including the M&AA ii) settles the incorporation fee and the stamp duty iii) registers the company with the Office of the Administrator and Registrar General (OARG) and iv) obtains the certificate of incorporation;
3. Tax registration: Healy Consultants Sierra Leone Incorporation Team registers the company for taxes at the National Revenue Authority (NRA) desk at OARG and obtains the Tax Identification Number (TIN);

POST-INCORPORATION STEPS

1. Business license: Following the successful registration for taxes, Healy Consultants Sierra Leone Incorporation Team applies for and obtains a business license for the new company at the Municipality of Freetown office at OARG;
2. Social security registration: Healy Consultants then i) registers the company with the National Social Security and Insurance Trust (NASSIT) at the Ministry of Labor and Social Security and ii) through a seal maker, procures a formal and a common company seal;
3. Corporate bank account: If required, Healy Consultants International Banking Team assists our Client to open a local multicurrency corporate bank account with a top tier international commercial bank with excellent internet banking facility;
4. Engagement completion: Following successful incorporation of the Sierra Leone company, Healy Consultants will courier, to our Client’s preferred international address, the complete company kit including i) original corporate documents ii) an unopened bank correspondence and iii) Client engagement feedback survey.