Business registration in Sri Lanka

Starting your own business is a bold and exciting step toward building your dreams. Whether you’re an entrepreneur expanding your venture or a foreign national exploring Sri Lanka as your next business destination, here’s all you need to know about business registration in this beautiful and promising country.

Types of Business Registration in Sri Lanka

Quick Comparison of Business Structures:

Business Type	Number of Owners
Sole Proprietorship	One (1) owner
Partnership	2–20 partners
Private Limited Company	1–50 shareholders (Min 1 Director)
Public Limited Company	Minimum seven (7) shareholders
Company Limited by Guarantee	Minimum two (2) members

For Foreign Entrepreneurs

If you’re a foreign national, incorporated businesses (e.g., Private Limited Companies) are your go-to option due to legal restrictions. These entities offer advantages like limited liability, structured governance, and business credibility.

How to Register 100% Foreign Ownership Company in Sri Lanka

Frequently Asked Questions

Here’s a list of commonly asked questions to guide you:

1. What is the process for registering a private limited company? The process typically involves name reservation, preparation of required documents, and submission to the Registrar of Companies.
2. What documents are required for company registration? You’ll need the Articles of Association, forms indicating directors and shareholders, and proof of address, among others.
3. How long does it take to register a company? On average, it takes 2–4 weeks, but timelines may vary based on the completeness of your documentation.
4. What are the costs involved? Registration costs depend on the type of business structure and government fees.
5. Can foreigners register a company in Sri Lanka? Yes, but they are limited to incorporated entities and must comply with foreign investment regulations.
6. What are the restrictions on company names? The name must not conflict with existing entities or violate intellectual property rules.
7. Do I need a company secretary? Yes, having a company secretary is mandatory for incorporated businesses in Sri Lanka.

Benefits of Registering a Business in Sri Lanka

• Access to a growing economy.
• Opportunities in emerging markets like tourism, IT, and manufacturing.
• Legal recognition and credibility.
• Tax advantages and business incentives for registered entities.

Conclusion

Registering a business in Sri Lanka is your gateway to a world of opportunities. With the right guidance and preparation, the process can be seamless and rewarding. Whether you’re a local entrepreneur or a foreign investor, Sri Lanka promises a supportive environment for your business journey.

Let us know if you’d like to explore any of these points in more detail. Ready to take the first step? The business world is waiting for you!

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