Be part of the new Sierra Leone
There are many reasons investors should consider Sierra Leone as their destination for investment.
- First mover advantage - 5.4 million hectares of arable land
- Attractive fiscal and non-fiscal incentives
- Significant Hydro and irrigation potentials
- Easy access to land with smooth facilitation process
- Significant untapped mineral deposits
- 5.5% GDP growth rate – 2008
- Natural harbor and a reputation for friendliness and hospitality of the Sierra Leonean people
- Strong privatization and divestiture program scheduled
- Duty-free access to lucrative markets (USA, EU and Asia)
- Lonely Planet Top 10 tourism destination – 2009
First-mover advantage: Because of the relatively low numbers of current investors in some sectors, your company may enjoy the benefits of a first-mover advantage. However, with the government focused on improving the investment climate and removing administrative barriers for doing business, this advantage will be available only to those who act now.
Favorable tax rates for key sectors: In addition to boasting beautiful, undeveloped beaches, historical sites, and attractive flora and fauna, Sierra Leone also has favorable tax rates for tourism investments. They are exempted from corporate income tax for the first five years and exempted from Pay As You Earn (PAYE) income tax for up to six employees with "non-available skills" for the first three years of employment.
Investors in agriculture also enjoy favorable tax rates. For example, investments in tree crops and rice are exempted from corporate income tax for the first 10 years.
Duty-free access to large markets: Sierra Leone provides duty free access to large markets under treaties such as African Growth and Opportunity Act (AGOA) with the United States, and the Cotonou Agreement with the European Union. Your company can capitalize on this access by establishing itself to supply these markets. In addition, regional and domestic demand is high for certain agriculture products, fresh or processed fish, and meat.