Setting Up a Company in Sri Lanka
Sri Lanka scored the highest amongst the South Asian countries for ease of setting up a company in the survey
conducted by "DoingBusiness.org". The country has an established, well documented process for setting up a
Every company incorporated outside Sri Lanka, which establishes a place of business within Sri Lanka, shall within one month from the date of establishment of its place of business,
deliver to the registrar for the purpose of registration certain stipulated documents.
The Companies Act contains no express provision for the registration of a Branch office or Liaison
office of a foreign company.
Any foreign company that is registered under the Companies Act is granted the same power to hold lands as if it were a company incorporated under the Companies Act of Sri Lanka.
- Documents required for the registration of a foreign corporation doing business within Sri Lanka:
- A certified copy of the charter, statues or memorandum and articles of association, or other instrument that constitutes or defines the constitution of the company
A list of the directors of the company including following information:
- Nationality of origin if other than the present nationality
- Usual residential address
- Other business occupation or directorships, if any
Name and address of one or more persons residing in Sri Lanka who is authorized to accept on behalf of the company, service of documents and any notices required to be served on the company.
A statement containing the full address of:
- The registered or principal office of the company
- The principal place of business of the company within Sri Lanka
- A certified copy, certified of recent date, of any document effecting or evidencing the incorporation of the company.
Process of Setting Up a New Business:
- Reserve a unique company name
- The company secretary to sign a consent
- Register at the Department of the Registrar of Companies
- Public notice of incorporation
- Register with the tax authorities and obtain a Tax Identification Number (TIN)
- Register with the Department of Labor and obtain the EPF number