Promote:
Invest in Somalia
A short guide for companies expanding into Somalia: the economy at a glance, the rules and steps to set up, and who can help, each with its source.
1. Somalia at a glance
PopulationEstimate
19.7 million
The population was 19,654,739 in 2025.
Source: World Bank, World Development Indicators, Somalia population, 2025 (opens in a new tab) · as of 2025
GDPEstimate
US$13 billion
GDP was US$13.0 billion in 2025 at current prices, per the World Bank.
Source: World Bank, World Development Indicators, Somalia GDP, 2025 (opens in a new tab) · as of 2025
GDP per personEstimate
US$661
GDP per person was US$661 in 2025 at current prices, per the World Bank.
Source: World Bank, World Development Indicators, Somalia GDP per person, 2025 (opens in a new tab) · as of 2025
Real GDP growthEstimate
3.0%
Real GDP growth was 3.0 percent in 2025, per the World Bank.
Source: World Bank, World Development Indicators, Somalia real GDP growth, 2025 (opens in a new tab) · as of 2025
Inflation
6.8%
Consumer prices rose 6.8 percent over the twelve months to September 2026.
Source: Somali National Bureau of Statistics, Consumer Price Index, September 2026 (opens in a new tab) · as of September 2026
Foreign direct investment inflowsEstimate
US$834 million
Foreign direct investment inflows were US$834 million in 2025, per UNCTAD.
Source: UNCTAD, UNCTADstat foreign direct investment, Somalia, 2025 (opens in a new tab) · as of 2025
The currency is the Somali shilling (SOS).
Source: Somali National Bureau of Statistics, Quarterly Statistical Bulletin, March 2024 (opens in a new tab) · as of October 31, 2026
2. Before you set up
The investment agency, any one-stop route, the sectors reserved for nationals and the zones, as the guide found them.
The investment agency is the Investment Promotion Office (SOMINVEST) at the planning and investment ministry, a statutory body set up by the Foreign Investment Law of 2015.
Source: MoPIED, About SOMINVEST, current page (opens in a new tab) · as of October 31, 2026
Business registration and licensing run through eBusiness Somalia, which calls itself the one-stop shop of the Ministry of Commerce and Industry.
Source: eBusiness Somalia, business registration and licensing, current page (opens in a new tab) · as of October 31, 2026
No list of sectors reserved for nationals was found on the ministry's pages; its February 2026 terms of reference plan a negative list under the 2025 law.
Source: MoPIED, terms of reference, Investment Law 2025 regulations, February 2026 (opens in a new tab) · as of February 10, 2026
No federal zone law, list or count was found; the 2020 strategy plans zones and a law for them, and the trade ministry's zone page did not open.
Source: MoPIED, National Investment Promotion Strategy, September 2020 (opens in a new tab) · as of October 31, 2026
3. Steps to set up
The main steps, in order, each with the body responsible and its official page.
Setting up in Somalia
- Reserve the business name, then register the company; a foreign company registers as a foreign company.Ministry of Commerce and IndustryName reservation US$20; company registration US$50Official page (opens in a new tab)
Source: eBusiness Somalia, fee schedule, current page (opens in a new tab) · as of October 31, 2026
- Get the trade license that the activity needs.Ministry of Commerce and IndustryLicense US$100 to US$2,000; processing within three business hoursOfficial page (opens in a new tab)
Source: eBusiness Somalia, business registration and licensing, current page (opens in a new tab) · as of October 31, 2026
- Register with the Revenue Directorate for corporate income tax, which the page sets by business size, with a flat rate for non-resident companies.Somalia Revenue DirectorateOfficial page (opens in a new tab)
Source: Somalia Revenue Directorate, direct tax page (opens in a new tab) · as of October 31, 2026
- Apply to SOMINVEST for approval of the project, including incentives and the permits the Government requires.Investment Promotion Office (SOMINVEST)Official page (opens in a new tab)
Source: MoPIED, SOMINVEST facilitation section, current page (opens in a new tab) · as of October 31, 2026
Show 2 more set-up steps
- Apply for entry authorization online and ask the Immigration and Citizenship Agency about residence and work permits for foreign staff.Immigration and Citizenship AgencyOfficial page (opens in a new tab)
Source: Immigration and Citizenship Agency, services page (opens in a new tab) · as of October 31, 2026
- Declare to customs in writing any cash or bearer instruments of US$10,000 or more that you bring into the country.Somalia Revenue DirectorateOfficial page (opens in a new tab)
Source: Ministry of Finance, General Customs Regulation, May 2024 (opens in a new tab) · as of May 19, 2024
4. Organizations that help investors
Start with SOMINVEST and Revenue Directorate. Each card links to the organization’s own site.
Each card says what it can help with:Get adviceFind financeMeet requirementsResearch markets
Investment and business setup
- Get advice
Investment promotion office
SOMINVEST
Investment Promotion Office
Promotes foreign investment and offers approval services, including screening and approving projects for incentives and permits.
Visit SOMINVEST (opens in a new tab)Source: MoPIED, SOMINVEST facilitation section, current page (opens in a new tab) · as of October 31, 2026
- Get advice
Planning and investment ministry
MoPIED
Ministry of Planning, Investment and Economic Development
Houses SOMINVEST and publishes the national investment promotion strategy and the plans for new investment regulations.
Visit MoPIED (opens in a new tab)Source: MoPIED, About SOMINVEST, current page (opens in a new tab) · as of October 31, 2026
Show 2 more organizations
- Meet requirements
Immigration and residence agency
ICA
Immigration and Citizenship Agency
Issues visas, residence permits and work-based residency to foreign nationals and runs the online E-Visa system.
Visit ICA (opens in a new tab)Source: Immigration and Citizenship Agency, services page (opens in a new tab) · as of October 31, 2026
- Find finance
Private sector development finance
IFC
International Finance Corporation
Multilateral body
Invests in private companies in developing countries and, since 2025, supports Somalia's central bank in building credit information for lending to small businesses.
Visit IFC (opens in a new tab)Source: IFC, project disclosure, credit information sharing in Somalia, 2025 (opens in a new tab) · as of September 1, 2025
Customs and tax
- Meet requirements
Tax and customs authority
Revenue Directorate
Somalia Revenue Directorate
Collects import and export duties and domestic taxes, enforces export prohibitions, and publishes tax forms and the customs regulation.
Visit Revenue Directorate (opens in a new tab)Source: Somalia Revenue Directorate, home page (opens in a new tab) · as of October 31, 2026
Finance ministry
MoF
Ministry of Finance
Publishes Somalia's customs, revenue and extractive industry legislation and the national budget.
Visit MoF (opens in a new tab)Source: Ministry of Finance, home page (opens in a new tab) · as of October 31, 2026
Chambers and industry associations
- Get advice
Chamber of commerce
SCCI
Somali Chamber of Commerce and Industry
Issues certificates of origin and other trade certificates and keeps a directory of member businesses.
Visit SCCI (opens in a new tab)Source: Somali Chamber of Commerce and Industry, services page (opens in a new tab) · as of October 31, 2026
- Get advice
Banking industry association
SBA
Somali Bankers Association
Represents Somalia's banks in policy dialogue and publishes news on payments and the banking sector.
Visit SBA (opens in a new tab)Source: Somali Bankers Association, home page (opens in a new tab) · as of October 31, 2026
5. Worth knowing
Sanctions screening
The European Union's Somalia regime combines a partial arms embargo, a charcoal import ban and individual asset freezes, and the United States runs a separate Somalia sanctions program.
What to do: Screen every buyer, supplier and partner against the United Nations, European Union, United Kingdom and United States lists before you sign.
Sources: European Union, sanctions map regime list, read 2026-10-31 (opens in a new tab); OFAC, sanctions programs and country information page (opens in a new tab) · as of October 31, 2026
Security and travel
The Foreign, Commonwealth and Development Office advises against all travel to Somalia except the regions of Awdal, Maroodijeh and Sahil, where it advises against all but essential travel.
What to do: Arrange site visits and shipments around current travel advice and your insurer's terms.
Source: FCDO, foreign travel advice for Somalia, updated June 2026 (opens in a new tab) · as of October 31, 2026
Investment law change
The planning ministry's February 2026 terms of reference call the Somalia Investment Law 2025 an anticipated enactment and plan regulations, including a negative list and minimum capital thresholds.
What to do: Ask SOMINVEST which law and capital threshold apply before you file an investment application.
Sources: MoPIED, terms of reference, Investment Law 2025 regulations, February 2026 (opens in a new tab); MoPIED, terms of reference, investor protection regulations, November 2025 (opens in a new tab) · as of October 31, 2026
Currency and settlement
Fees and tax bands are in United States dollars, import entries may state duty value in either currency, and cash of US$10,000 or more crossing the border must be declared.
What to do: Confirm the settlement currency with each office, and declare cash of US$10,000 or more to customs.
Sources: Ministry of Finance, General Customs Regulation, May 2024 (opens in a new tab); eBusiness Somalia, fee schedule, current page (opens in a new tab) · as of October 31, 2026
6. How Promote:Global helps
- Compare Somalia with other countriesSet Somalia beside other countries on investment momentum, fundamentals and trade access, before site, tax and legal work.
- Find advisors and service firmsAsk an advisory firm a scoped, paid question, or browse firms that list their own services, from legal work to logistics.
- Organize your next stepsKeep each product and market in a project, with a roadmap of steps you work through.
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Promote:Somalia is an independent guide by Promote:Global, not an official government portal. The organizations named here are independent public and membership bodies, not Promote:Global partners, and every link goes to their own site.
Facts read from public sources, with an editorial cut-off of October 31, 2026. Nothing here is investment, legal, tax or sanctions advice. Check current status with the organization before you rely on it.