Sri Lanka offers a growing economy, supportive government policies, and various incentives for foreign investors. Its competitive labor costs, skilled workforce, and developing infrastructure create opportunities for cost-effective business operations. Registering a company in Sri Lanka involves several key requirements to ensure compliance with local regulations. Here’s a brief overview:
- Company Name: Choose a unique name that adheres to Sri Lankan naming conventions. The name must be reserved through the Department of Registrar of Companies.
- Business Structure: Decide on the type of company—whether it’s a private limited company, public company, or another structure. Each has specific requirements and implications.
- Directors and Shareholders: Appoint at least one director and one shareholder. Directors must be at least 18 years old and can be foreign or local. For a private limited company, a minimum of two shareholders is required.
- Registered Office: Provide a local registered office address where official correspondence can be sent. This address must be within Sri Lanka.
- Memorandum and Articles of Association: Draft and submit these documents outlining the company’s objectives and operational rules.
- Statutory Declarations: Complete declarations of compliance and other statutory requirements.
- Trade License: Obtain a trade license from the relevant local authority, which is necessary for conducting business activities.
- Company Registration Fees: Pay the required registration fees as stipulated by the Department of Registrar of Companies.
Once these requirements are met and documents are submitted, the company will be officially registered and can commence business operations in Sri Lanka.
Learn: Requirements for opening a company in New Zealand.
