Check the uniqueness of the company name and pick up a company registration form
Agency: Corporate Affairs Commission
The company name search is usually done at the Corporate Affairs Commission (CAC) office. It can also be conducted electronically. If done at the office, Form 28 is completed by the applicant providing 3 name options. Then a search is done by a staff member and the desired name availability is confirmed.
The company must have a Memorandum and Articles of Association. Standard articles are available at the CAC. If the standard documents are considered insufficient, a solicitor can be consulted to prepare one.
Time and cost: 1 day, no charge
Register the company with the Corporate Affairs Commission
Agency: Corporate Affairs Commission
Submission of the company’s documents to the CAC officer starts the incorporation process. The officer examines the documents and issues a payment slip to settle incorporation fees. Registering an LLC costs SLL 250,000 (one time fee). After submission of the completed application, supporting documents and payment of fees, the company will be incorporated and registered. It will be issued the certificate of registration, a Tax Identification Number (TIN), a National and Social Security Insurance Trust Number (NASSIT number) and a Municipal business license. This license is provided at no cost and it is valid for six months; after this period, it must be renewed and paid for at the Municipality.
Time and cost: 3 days, SLL 250,000
Pay the registration fees
Agency: Bank or Mobile Application
The registration fees can be paid through a wire transfer or by mobile money. Once the CAC receives the payment, it will issue the certificate of incorporation.
Time and cost: 1 day, no charge
Register employees with Social Security
Agency: National and Social Security Insurance Trust (NASSIT)
The employer must register the company’s employees with the National Social Security Insurance Trust (NASSIT), per art. 30 of the National Social Security Insurance Trust Act of 2001. Employee registration is made by completing an application form at NASSIT’s office, following the employer’s prior registration through CAC.
Time and cost: 1 day, no charge
Make a company seal
Agency: Sealmaker
In practice, a company would typically make a formal seal and a common seal. Under Section 17 of the Companies (Amendment) Act of 2014 this is no longer legally required, however it is still frequently done in practice. 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.
Time and cost: 2 days, SLL 50,000
