Business accounts: Sierra Leone
An honest assessment before work starts, the quote is fixed in writing.
Sierra Leone is a West African country with mining, agriculture, fisheries and growing telecoms. Banks are supervised by the Bank of Sierra Leone. The currency is the leone: it was redenominated on 1 July 2022, with one new leone equal to 1,000 old ones, about 24.1 new leones per dollar in early October 2026. The dollar is widely used in payments, so a company account is usually opened in leones and dollars. A business account here is opened for a company registered in the country.
Who will get an account
| Company | Chances | What else the bank will ask |
|---|---|---|
| A company registered in Sierra Leone with an office and a project in the country | high | registration certificate, tax number, contracts |
| A local company with a foreign owner at launch stage | medium | owner's documents, business plan, source of capital, director's permits |
| A foreign company not registered in the country | low | a company or branch is usually registered first |
We will calculate online the cost of opening an account for your company and maintaining it for a year.
What the bank will check
- The Corporate Affairs Commission registration certificate, articles and details of directors and shareholders.
- A tax number from the National Revenue Authority.
- Licences for regulated sectors, such as mineral rights.
- Passports of directors and beneficial owners; for foreigners working in the country, work and residence permits.
- Business description, clients and suppliers, payment countries and currencies, source of the share capital.
How the opening works
| Stage | What happens | Time |
|---|---|---|
| 1. Company | registration with the Corporate Affairs Commission, tax number | 1-3 weeks |
| 2. Pack | company and owner documents, apostille and translations, business plan | 1-2 weeks |
| 3. Review | representative's meeting with the bank, questions on the project and funds | 2-4 weeks |
| 4. Setup | leone and dollar accounts, online banking | a few days |
Company taxes from 2026
| Tax | How it works |
|---|---|
| Corporate income tax | 30% under the Finance Act 2026, up from 25% |
| Minimum tax | since 1 January 2026 applies to all companies: the higher of tax on profit or a minimum tax on turnover is paid |
| Goods and services tax | 15% |
The minimum tax on turnover means that even a loss-making company pays tax, so we check the project's financial model before registration.
Practical points
- The leone fluctuates noticeably, so it is convenient to keep revenue and costs in dollars where permitted.
- International transfers go through correspondent banks and are checked closely, so we prepare documents for large payments in advance.
- A foreigner who works in the company personally needs a work permit and residence permit.
- Sierra Leone citizenship by investment does not help open a company account and does not give the right to enter the US: entry on this passport has been suspended since 1 January 2026.
Sectors that need licences
Mining requires rights from the National Minerals Agency, fishing needs licences from the relevant ministry, telecoms need permits from the communications regulator, and financial services need a Bank of Sierra Leone licence. The bank will ask for these documents before opening the account, so we obtain them in parallel with registration.
Who gets refused
The bank will refuse if the company has no registration and tax number in the country, no licence for a sector that requires one, if the source of capital cannot be proven with documents, or if the company, its owners or counterparties are linked to sanctions. We check whether the bank works with Russian citizens before preparing documents.
What we do
Murblz specialists register the company in Sierra Leone, obtain the tax number, prepare the owners' documents with apostille and translation, the business plan and the explanation of the source of capital, and support the bank meeting and opening of leone and dollar accounts. The cost depends on the project and the bank; a manager will calculate it in the chat. We fix the estimate in writing; the decision to open an account always rests with the bank.
What we do
- Corporate account - opening assistance
See also
Personal account · Investment property · All country programs
FAQ
Can a company open an account in Sierra Leone?
Is a local director or presence needed?
What does the bank ask for?
What taxes does a company pay in Sierra Leone?
How can payments from abroad be received?
How much does it cost to open a company account with your help?
Need a company account in Sierra Leone?
We assess which banks in Sierra Leone work with foreign companies, prepare the compliance documents and, if needed, find a bank in another country. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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