Sierra Leone: Gold for Residency, Money for a Passport (CBI)

Since January 2, 2025, the world of citizenship-by-investment programs has a new option. This time, the pioneer is not a Caribbean or South Pacific country (such as Vanuatu or Nauru), but the second African nation after Egypt: Sierra Leone. This West African country now offers the possibility of obtaining a passport remotely in a record time of just 60 or 90 days. By way of comparison, until now it was necessary to reside in the country for eight long years.

Just a few months ago, the country attracted attention with a unique program offering permanent residence permits in exchange for investments in gold. Let’s take a closer look at these interesting developments. With around 8.9 million inhabitants and a territory roughly the size of Bavaria, Sierra Leone is one of the smallest countries in Africa and does not exactly stand out on the global geopolitical stage.

However, the country and its innovative permanent residence and citizenship programs offer unique advantages.

The Sierra Leone passport and the famous Cotton Tree in the capital, Freetown

Visa-free access to 12 West African countries

At first glance, the Sierra Leone passport does not seem like one of the most attractive options in the world for obtaining second citizenship, especially if you hold a Schengen passport. With the enormous freedom of travel offered by a German passport, for example, it is not very tempting that the passport of this West African nation allows visa-free entry to only 66 countries. However, on closer inspection, it becomes clear that the Sierra Leone passport is a very useful addition to a European passport, as it not only offers freedom of travel but, in many cases, also facilitates freedom of establishment in countries that remain closed to Western passports. The reason for this is Sierra Leone’s membership of ECOWAS (Economic Community of West African States), a community of states that facilitates the movement of citizens and trade between participating states. Let’s take a closer look at these countries:

Source: https://www.ifpri.org/blog/the-ecowas-breakup-implications-for-west-african-food-security-and-regional-cooperation/

Currently, the ECOWAS countries are 12 of the 15 that previously made up the organization, following the official departure of Mali, Burkina Faso, and Niger on January 29, 2025. ECOWAS has officially recognized the departure of the three countries but is keeping “the door open” for a possible return. The countries that are part of ECOWAS are:

1. Sierra Leone
2. Cape Verde
3. Ivory Coast
4. Gambia
5. Ghana
6. Nigeria
7. Senegal
8. Liberia
9. Guinea
10. Guinea-Bissau
11. Benin
12. Togo

All current members joined the community as founding members in May 1975, with the exception of Cape Verde, which joined in 1977, which in turn means that, despite the departure of three Sahel nations, the community of states enjoys great stability thanks to its long existence.

The 1979 “Protocol on the Free Movement of Persons, Residence and Establishment” states in Article 2:

“Citizens of the Community shall have the right to enter, reside and establish themselves in the territory of the Member States. The right of entry, residence, and establishment referred to in paragraph 1 shall be progressively established over a transitional period of no more than fifteen (15) years from the final entry into force of this Protocol.”

Thus, in addition to the visa exemption for stays of up to 90 days, the fundamental right of establishment for ECOWAS citizens is also enshrined, with its gradual implementation planned over a period of 15 years. However, it should be noted that the full implementation of the right of establishment has not yet been achieved in practice in all Member States and that, often, after 90 days, a residence permit must be applied for.

Looking at the participating countries, it quickly becomes clear that in certain cases the passport can be a useful supplement to the existing Western passport, as it opens up options that even the extremely powerful German passport does not offer in this form: for example, visa-free entry to numerous West African countries, guaranteed (but not yet fully implemented) freedom of establishment in these countries, and therefore also simplified opportunities to invest in ECOWAS countries. For holders of a “weaker” passport, citizenship is even more interesting, as freedom of travel to the countries mentioned is generally even more restricted.

The African continent is considered quite difficult for naturalization

In principle, the African continent is historically a more complicated place for foreigners to obtain permanent residence permits or even citizenship through legal channels. Of course, the relevant laws vary from country to country, but in principle it can be said that African identity and, therefore, naturalization laws are often linked to ethnic origin, ethnicity, and family ties. For this reason, the possibility of obtaining a passport through investment in Sierra Leone is an absolutely unique feature on the African continent.

The visa situation, which is generally more difficult, has long been a thorn in the side of investors, as it often complicates or even prevents investment opportunities. For many years, countries such as Nigeria, Gambia, and Ghana, all members of the Economic Community of West African States (ECOWAS) and with very positive growth forecasts, have been popular destinations but often inaccessible to many citizens. Membership of ECOWAS will make it easier for investors to enter local markets, as it offers better opportunities to set up businesses and boost economic activity thanks to visa-free travel within the respective countries.

Diversification outside the West

Sierra Leone citizenship therefore offers an attractive opportunity to diversify outside Western countries, as it provides access to the emerging African markets mentioned above and to resources such as gold at reduced prices (more details below). It facilitates investment in a dynamic economic environment with less dependence on Western financial systems. In addition, investors benefit from tax advantages (e.g., tariff-free trade between countries), flexible banking services, and cultural ties, which support both financial and strategic diversification objectives. West Africa’s strategic location also offers long-term opportunities in the region, but also specifically in Sierra Leone, as citizenship allows investors to access the country’s growing markets, including real estate, agriculture, and mining.

The ECOWAS countries are five French-speaking, five English-speaking and two Portuguese-speaking, which means that, unlike most Asian countries, for example, you can communicate here with knowledge of the most common Western languages.

Ways to obtain citizenship and costs

Citizenship can be acquired in two ways, one of which emphasizes the aforementioned African identity. People of African descent who can prove this through a DNA test have the opportunity to obtain citizenship of the country much more quickly and cheaply. This regulation reflects the importance of African origins and identity in many countries on the continent and facilitates the return and integration of descendants of the African diaspora.

This practice can be found, for example, in Ghana, where the “Right of Abode” program offers people of African descent the possibility of settling permanently in the country. Similar initiatives exist in other African countries that wish to strengthen ties with the African diaspora and encourage the return of descendants of former slaves or emigrants.

1. Via: naturalization by investment with ancestry: people of African origin can obtain citizenship in 60 days through a DNA test and an investment of US$100,000 to connect with their country of origin.
2. Via: Naturalization by investment without ancestry: this option allows you to obtain Sierra Leonean citizenship in 90 days through an investment of US$140,000. It is aimed at people seeking fast-track naturalization and economic opportunities.

In addition, family members can be included in the application for a contribution of US$10,000 per family member. Family members include children under the age of 18, spouses (including legally recognized second spouses), and parents.

Sierra Leone’s citizenship program thus marks a major shift in its strategy to attract foreign investment. With multiple pathways, one for financial investors and another for people of African descent, the program targets a broad target group.

GO-FOR-GOLD program for permanent residence

But Sierra Leone has not only attracted attention in recent weeks for its citizenship law reform, but also for its “GO-FOR-GOLD” program, which has created a unique offer in the world for obtaining permanent residence: since December 2024, it has been possible to obtain a permanent residence permit in this Atlantic coastal country through a substantial investment in gold. This is kept in state vaults and, if for any reason the application is rejected, it is refunded in full. The options are as follows:

The program offers three investment options, which consist of the program costs and the investment in gold:

• Individual applicant: $65,000 plus 1 kilogram of gold (approximately $83,000 at the time of publication)
• Nuclear family: $75,000 plus 1 kilogram of gold
• Extended family: $100,000 plus 2 kilograms of gold

As with citizenship, Sierra Leone also promotes a fast-track approval process here: the application will be processed within 40 days. Application fees will be refunded in full if the application is denied. The application is made entirely remotely and only requires basic documents, such as passport copies and photos. The application process is therefore very straightforward.

The gold is gold in bars with a purity of 99.99% from Sierra Leone, which complies with the LBMA Good Delivery List standard. It is guaranteed by the Central Bank of Sierra Leone and deposited for five years in the central state vault. This grants immediate permanent residence.

Other advantages of the program:

• No residency requirement: You do not need to be physically present in Sierra Leone.
• GFG Club membership: Access to a network that connects residents with important businesspeople.
• Additional gold purchases: Option to purchase up to 19 additional kilograms of gold at a reduced price for five years.
• Tax advantages: No national tax liability; tax residence certificate available (see below).
• Banking services: access to banking services outside the Common Reporting Standard (CRS).

Simplified naturalization is planned under this program, but has not yet been confirmed. However, it is expected that the donation will have to be increased to make up the difference to direct citizenship. Nevertheless, the permanent residence permit has other advantages that may be very interesting for certain groups of people.

Membership in the GFG Club

Another advantage, especially for those interested in investing in gold, is the GFG Club. This is an exclusive network that offers its members numerous benefits, including discounted gold purchases, business services, VIP agreements, and assistance in settling in Sierra Leone. Its aim is to help investors get the most out of their permanent residence program, but the most interesting feature is probably the access to purchase up to 19 kg of gold bullion at reduced prices (2% discount on the market price) in increments of 1 kg.

Names can also be changed through a quick procedure

And both citizenship and permanent residence offer another very interesting advantage. As a permanent resident or citizen, the legal name can be changed for a fee of $10,000 (citizenship program applicants) or $30,000 (permanent residence applicants), by means of a sworn statement before a notary or public official and publication of the change in the official gazette. Personal documents, such as your residence card and tax identification number, can then be updated. With these documents, you can open new bank accounts and also create business accounts with your new name as the beneficial owner of a company. In this way, it is possible to change your identity in the blink of an eye.

It is also possible to obtain tax residence without a minimum stay

In addition, Sierra Leone issues a tax residence certificate for a fixed tax of only US$10,000, with no minimum stay. Of course, this does not imply effective taxation in the country itself. The country itself has a worldwide residence tax, but allows foreigners a 4-year exemption through a procedure similar to the “non-dom” system, in which only income earned in Sierra Leone is taxed. Given the limited possibilities of obtaining a tax certificate with a stay of less than 6 months, this may be an interesting option.

We hope this article has shown that Sierra Leone’s new citizenship program offers much more than it might appear at first glance and opens up numerous opportunities beyond traditional Western structures. Thanks to its possibilities, the Sierra Leone passport is not only interesting for travelers or people with ties to West Africa, but also for investors (especially in gold) or for people seeking anonymity through a name change. Whatever the motivation behind each individual decision, we generally consider the new program to be a positive sign of the growing importance and popularity of citizenship-by-investment programs in the global market, and it is to be hoped that, with the increase in successful CBI programs, other countries will follow suit. We already know of preparations in some countries that could revolutionize the sector!

If you would like more information about the program, dual citizenship, or other possibilities for obtaining a passport through investment, let us advise you. Staatenlos.ch will help you obtain another nationality, residence, or more. Write to us without obligation.