Company Incorporation Services
Summary of steps
Incorporation Procedure in detail
Consultation Phase
We will discuss your broad business goals with you and advise you on all statutory requirements and the most appropriate business model that will suit you. We will also help you with drafting the Articles of Associations according to your business strategy.
Planning Phase
Promotion is the first stage in the planning phase of a company up to the organisation of the company and completion of the plan to exploit the idea.We draft a detailed engagement plan for our Client, detailing each step of the process until completion, including i) the incorporation procedure ii) documentation requirements iii) tax implications and iv) statutory issues. The engagement plan optimizes transparency.
Name Approval
We can search for a unique name for your company via the Department of the Registrar of Companies. Names that are too similar to existing company names or that violate regulations will not be approved.
We can search for the availability of your preferred name with the Sri Lanka government.
We can also help you obtain a related domain name.
Company Secretary
Sri Lanka law requires a local resident secretary to be appointed. The secretary must be appointed before incorporating the business because one of the forms that is necessary for incorporation is a Secretary’s Consent form. We can help appoint a suitable candidate for this position.
Registered Address
Companies are also required to provide a local registered address to set up a business in Sri Lanka. We can register an address for you or else we can temporarily provide you an address to startup your business.
Article of Association
Companies must prepare its constitution by the Articles of Association that comply with the local regulations. This document must include information about the scope of the company, rights and obligations of shareholders and management of the company. Alternatively, you can adopt the standard set of articles of association.
Documents Preparation
Once the structure of the company is finalized, our Client must fill in the following forms: i) Form 1 – Registration of a Company, ii) Form 18 – Consent and Certificate of Director, iii) Form 19 – Consent and certificate of secretary/secretaries.
Documents Submission
We submit all relevant documents to the Department of Registrar of Companies. If any supplemental documents are required to incorporate your business, we can assist with these documents as well.
Incorporation Approval
The amount of time required for the incorporation of a company in Sri Lank is around 2 weeks. Once the process is approved, we will forward to the client the Certificate of Incorporation (Business Registration – BR) document.
Public Notice
Within 30 days of incorporating your business, you must provide a public notice of incorporation that is published in the Government Gazette and a daily newspaper. Your notice should state the name of your business, the registered address and your company number.
Corporate Bank Account
Once the incorporation process is complete, you can apply for a corporate bank account in any of the licensed commercial banks in Sri Lanka. We can help you determine which type of account is best suited for your business.
Company EPF No
We can help your company register for an Employees Provident Fund number at the Department of Labor, which must be completed within 15 days of hiring your first employee.
BOI Approval
The Board of Investment (BOI) of Sri Lanka is the primary agency responsible for approving private Foreign Direct Investment (FDI) as well as local investment under the Board of Investment Law No. 4 of 1978 (BOI Law) and its amendments. You may apply to invest in a permitted business activity either under Section 16 or Section 17 of the BOI Law.
All sectors in the Sri Lankan economy (except for a handful) are now open for Foreign Direct Investment (FDI).If your company requires BOI approval to conduct business, we can help you with this process.
Sole Proprietorship / Partnerships
Business Names Registration in the Western Provincial Department
Regulating and coordinating all the business name registration activities within the Western Province and issuing business names registration certificates particularly for businesses operating within the Divisional Secretary’s divisions of Colombo, Thimbirigasyaya, Sri Jayawardenepura Kotte, Dehiwala and Ratmalana are carried out by this Department. For other Divisional Secretary’s divisions of the Western Province, people are given the opportunity to register their business names through the respective Divisional Secretary’s Office.
Services Provided by the Department
- Registration of business by an individual
- Registration of partnership business
- Making changes to the registered business (individual and partnership)
- Cancellation of business names
- Providing opportunities for checking the business names files / registers.
