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Understand the Jurisdictions Setup Requirement Before Proceed Your Sri Lanka Company Registration
You may be a foreigner or a local invest looking for ways to register your company in Sri Lanka. Through 3E Accounting service provider, the process of Sri Lanka company registration is faster and straightforward. At 3E Accounting service provider, you’ll get the highly professional staff that will assist you in a spectrum of services from:
- Business advisory
- Auditing and accounting services
- Incorporation of the company
- Taxation services
Contact or visit 3E Accounting and enjoy the best business solution services in Sri Lanka.
Procedures of Starting Out
Now, you may be aware that before you think of registering your company, you must have a business name. With your business name, you should then proceed to the Registrar Office for approval after filing Form A16. For the name reservation, you’ll pay a nominal fee of Rs1, 110. You should note that the name reservation is only valid for 3 months.
Now, according to the Sri Lankan government, in case you’re a foreign company, you must appoint a Sri Lankan company secretary. The company secretary will then be responsible for consenting on the forms stated above for registration purposes.
Should you decide to register for Limited Liability Company, you’ll be required to fill out Forms 1, 18 & 19. Form-1, when it comes to Sri Lanka company registration, is for registering your company in the country. Form-18 requires you to have consent and certificate of directors whereas Form-19 constitutes consent and certificate of secretary alongside two copies of Articles of Association. You must ensure you print all the forms or typewritten as no handwritten forms are accepted by the authority.
Requirements to Fulfill
According to the Company Act, it’s important to prepare an Article of Association that explains your company’s constitution. The law also requires you to register for a local address whether you’re a local or foreign investor. Under the Act, you’re required to provide public notice of company registration within 60 working days. It can be one issue on both the Gazette and Daily newspaper in three languages (Sinhala, Tamil & English).
In case you’re in the export/import business, then the Sri Lanka company registration policy states that you must have the following papers:
- A form of application of the export license
- Two copies of Performa Bill
- Certificate of incorporation
- Applicant passport/national ID card
- Endorsements from relevant departments of Goods
Other Relevant Information
Each company must register with the tax authorities to attain their Tax Identification Number. The Taxpayers Services unit under the Inland Revenue Department will assist you in the registration of VAT under the VAT Registration Branch. The process of taxation may be complex in Sri Lanka especially if you’re not familiar with the tax and customs practices. This is where 3E Accounting will assist you in matters of taxation.
It is no daunting that when incorporating an establishment, you’ll hire employees to help in running business operations. Further, the Employment Act requires you to register with the Department of Labour to acquire the Employees Provident Fund number (EPF).
Contact us and start your entrepreneurial journey in Sri Lanka.