Sri Lanka Business Registration Guide: What You Need to Consider

Starting a business is an exciting journey, and registering your company is the first step toward making your entrepreneurial dream a reality. If you’re wondering how to register a company in Sri Lanka, this guide will help you navigate the process efficiently.

Why Register Your Company in Sri Lanka?

Registering a company provides:

• Legal Protection – Separates personal assets from business liabilities.
• Credibility – Increases trust among customers and investors.
• Access to Bank Facilities – Enables business banking and funding opportunities.
• Tax Compliance – Ensures smooth operations without legal penalties.

Choosing the Right Company Name

Selecting a company name is crucial, but there are several restrictions under the Companies Act No. 07 of 2007:

How to Choose the Right Company Name

• The name must not be identical to an existing local or overseas company.
• You cannot use misleading names or terms like “Chamber of Commerce,” “President,” “Municipal,” “Co-operative,” “National,” or “Sri Lanka” unless permitted.
• Certain words such as “Limited” or “Incorporated” may be disregarded by the Department of Registrar of Companies.

Additionally, securing a domain name is essential for your online presence. If you’re a Sri Lankan business, opting for a .lk domain from the LK Domain Registry is recommended. You may need to provide proof of company registration or an application receipt to proceed.

Deciding on Shareholders & Directors

• Shareholders are the owners of the company, investing in shares for profit.
• Directors manage the company on behalf of shareholders. Choosing competent directors is vital for business success.
• Directors have legal responsibilities, including acting in the best interest of the company and ensuring compliance with regulations.

Appointing a Company Secretary

Everything You Need to Know About Replacing a Company Secretary in Sri Lanka

Why Do I Need A Qualified Company Secretary?

If your company meets the criteria set by the Registrar General of Companies, appointing a licensed company secretary is mandatory. You can change the secretary as needed, following the provisions in your Articles of Association.

Registered Address Requirement

Choosing the Right Registered Address for Your Business in Sri Lanka

Your company must have a registered address in Sri Lanka, which can be any valid location within the country.

Steps to Register Your Company Online

Sri Lanka offers an online registration system via eROC. You need to complete and submit:

• Form 1 (Company Registration)
• Form 18 (Director Details)
• Form 19 (Company Secretary Details)
• Articles of Association (Drafted and signed)

If you need assistance drafting the Articles of Association, professional services are available to help.

Obtaining a TIN Certificate

Once your company is registered, the next step is obtaining a Taxpayer Identification Number (TIN). You can apply for this during the registration process via eROC, but you must physically collect the certificate from the Department of Inland Revenue. Your company secretary can handle this process on your behalf.

Need Help with Company Registration?

Navigating the registration process can be complex, but expert assistance is available. Whether you need help with name selection, documentation, or tax registration, professional services can streamline the process.

For more details, visit the Department of Registrar of Companies or explore Company Registration Services in Sri Lanka.