Confidus Solutions logotype

Confidus Solutions

Sierra Leone

The ISO code of Sierra Leone is SL according to the ISO 3166 standard. The local name of the country is the same as its English name. Sierra Leone capital city is Freetown. People in Sierra Leone speak the English language. On 27 April 1961, Sierra Leone emerged as a sovereign political entity. In the year 04/27/1961, Sierra Leone emerged as a sovereign political entity. The largest city in Sierra Leone is Freetown.

Sierra Leone is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Sierra Leone is .sl. The International dialing code for Sierra Leone is 232. People in Sierra Leone drive on the right side of the road. Total land area of Sierra Leone is 71,740 km² (approx. 27,699 mi²). Sierra Leone is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Sierra Leone

Sierra Leone is located in Africa. Sierra Leone is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Sierra Leone faces various issues, including rapid population growth pressuring the environment, overharvesting of timber, expansion of cattle grazing, and slash-and-burn agriculture have resulted in deforestation and soil exhaustion, civil war depleted natural resources, overfishing.

Doing business in Sierra Leone

We offer various corporate services in Sierra Leone jurisdiction. These services can serve both, people coming from Sierra Leone and foreigners. If you plan on doing business in Sierra Leone you might be interested in contacting us.

To find out about starting your business in Sierra Leone click on company formation in Sierra Leone.

To find out how to open a bank account in Sierra Leone and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Sierra Leone.

Choose preferred service below or continue reading to find out more about Sierra Leone.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Sierra Leone

The total population of Sierra Leone is 7,719,729 people. In Sierra Leone, the population density is 85 people per square kilometer (221 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is very diverse according to a fractionalization scale which for Sierra Leone is 0.8191. Sierra Leone has approximately 96368 foreign immigrants. The median age is approximately 19 years. In Sierra Leone, 1.3 in every 100 people use internet. Sierra Leone has a Human Development Index (HDI) of 0.374.

The majority religion of Sierra Leone is Islam, Sierra Leone is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Sierra Leone.

Culture of Sierra Leone

People in Sierra Leone speak the English language. According to data on inbound tourists in Sierra Leone, 81,000 tourists arrive in the country each year. One of the most popular national dishes of Sierra Leone is red palm oil vegetable stew. To read more click on culture of Sierra Leone.

Geography of Sierra Leone

Sierra Leone is considered to be a large nation because of its total area. Its total land area is 71,740 km² (approx. 27,699 mi²). Sierra Leone is located in Africa. Its capital city is Freetown. Sierra Leone has 2 neighbouring countries. Its neighbours include Guinea, and Liberia. Total length of land borders of Sierra Leone is 1093 kilometers (~422 miles).

The highest point of Sierra Leone is Mount Bintumani, with its official height being 1948 m (6,391 ft). Including land mass and EEZ, the total area of Sierra Leone is approximately 287,351 km² (~110,946 mi²). The most notable natural resources found in Sierra Leone are diamonds, titanium ore, bauxite, iron ore, gold, chromite.To read more click on geography of Sierra Leone.

Economy of Sierra Leone

The currency of the country is Sierra Leonean leone. The symbol used for this currency is Le, and it is abbreviated as SLL. 4.5% of population in the country are unemployed. The total number of unemployed people in Sierra Leone is 347,388. Each year, Sierra Leone exports around $1.56 billion and imports roughly $1.64 billion. The Gini Index of the country is 62.9. Sierra Leone has a Human Development Index (HDI) of 0.374.The Global Peace Index (GPI) for Sierra Leone is 1.864. Sierra Leone has a government debt of 60.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Sierra Leone is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are diamond mining, iron ore, rutile and bauxite mining, small-scale manufacturing (beverages, textiles, cigarettes, footwear), petroleum refining, small commercial ship repair.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Sierra Leone is $12,799 billion. Each year, consumers spend around $1,583 million. The ratio of consumer spending to GDP in Sierra Leone is 0%, and the ratio of consumer spending to the world consumer market is 0.0046. The corporate tax in Sierra Leone is set at 30%. Personal income tax ranges from 30% to 35%, depending on your specific situation and income level. VAT in Sierra Leone is 15%, and it is known as Goods and Services Tax. In 2013, Sierra Leone received 442.8 million USD in foreign aid.In 2014, the foreign aid amounted to 425.3 USD.To read more click on economy of Sierra Leone.

Infrastructure of Sierra Leone

In Sierra Leone, 14.2% of the population has access to electricity. There are 282 internet hosts in Sierra Leone. Sierra Leone has 8 airports nationwide.

The number of road motor vehicles per 1000 inhabitants in Sierra Leone is 3. To read more click on infrastructure of Sierra Leone.

Politics of Sierra Leone

Sierra Leone, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Sierra Leone is 2. Citizens in Sierra Leone experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Sierra Leone, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Julius Maada Bio.

According to the World Bank Group, the government effectiveness index of Sierra Leone is -1.22. This indicates that the government of Sierra Leone is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Sierra Leone, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Sierra Leone is 1.864. The strength of legal rights index for Sierra Leone is 5. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Sierra Leone received 442.8 million USD in foreign aid. In 2014, the foreign aid amounted to 425.3 USD. Sierra Leone is a member of the United Nations (UN). On 27 September 1961, it joined the UN as a full member state. Sierra Leone is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Sierra Leone is a member of the World Bank. To read more click on politics of Sierra Leone.

Environment of Sierra Leone

Sierra Leone emits 0.2 metric tons per capita of CO2. 27540 km² of Sierra Leone's territory is covered in forests. and forest land comprises 38% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Sierra Leone is 3. To read more click on environment of Sierra Leone.

Company formation in Sierra Leone

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Sierra Leone.

When establishing a company in Sierra Leone, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Sierra Leone that will affect the establishment and growth of one's business. Contact us or click on company formation in Sierra Leone to read additional information when setting up a business.

Bank account opening in Sierra Leone

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Sierra Leone. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Sierra Leone, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Sierra Leone or contact us.