In our ongoing commitment to keeping our readers informed about the latest developments, we bring you an update on company registration in Sri Lanka for the year 2023. The Registrar General of Companies has introduced new rules and guidelines that streamline the registration process, making it more efficient and user-friendly. Here are the key changes you need to be aware of:
1. No More Paperwork
Gone are the days of tedious paperwork for company registration. Thanks to the latest development of the eROC system, the Registrar General of Companies now accepts all necessary documents through the eROC Online Profile. Company promoters or secretaries can conveniently perform this task. If you don’t have an eROC Profile yet, creating one is the first step.
How to Create an eROC Profile:
- Visit the eROC website.
- Create a profile based on your role (Director, Company Secretary, Liquidator, Bank, Third Party).
- Use your email and personal details for profile creation.
- Once verified, you can submit name approval and proceed with the company registration.
2. No More Printed Company Registration Certificates
The Registrar of Companies (ROC) will no longer issue printed certificates of incorporation. Instead, upon successful incorporation, you will receive an email notification. Log in to the dashboard to download the electronic copy of the company certificate and other relevant documents, including Form 1, Form 18, Articles, and Form 19 (if certified copies were applied for during the registration process).
3. No More Public Notices
In a departure from past practices, company directors or secretaries are no longer required to publish public notices. The Registrar’s office will handle all necessary notifications, simplifying the process for businesses.
4. Initial Share Issue for Founding Shareholders
The requirement to submit Initial Form 6 for the share issue has been eliminated. Now, only subsequent share issues necessitate the submission of the Share Issue Form (Form 6).
At Ananda Sirisena & Co (ASAC), a practicing company secretary in the trade since 1991, we offer comprehensive incorporation packages. Having assisted numerous Sri Lankan and foreign investors in establishing their companies in Sri Lanka, we are well-versed in the intricacies of the registration process. Feel free to request a call back via the form on our website, and we’ll guide you through the correct steps to register your company efficiently.
Stay tuned for more updates on business practices and regulations in Sri Lanka. The evolving landscape is sure to bring more advancements, and we’re here to keep you informed every step of the way.