Sri Lanka is an emerging hub for international trade. If you have built a stronghold in your home country and intend to expand in foreign markets to have an international presence, then you can consider Sri Lanka for it. To become familiar with the Sri Lankan market, continue reading or reach out to our experts for in-depth knowledge about the market.
The reasons for establishing a business in Sri Lanka are as follows:
Strategic Location
Free Trade Agreements with big market economies
High-performing stock market
Business-friendly environment
Simple procedure for company registration
Knowledgeable and flexible labor force
Investment protection and double tax agreements
The major types of business structures in Sri Lanka are as follows:
A public limited company has a minimum of two directors and shareholders. A public company has to be listed on the Colombo stock exchange and raise capital from the public. The shareholders have limited liability to the extent of capital invested by them.
This is the most preferred business structure in Sri Lanka. A minimum of one director and shareholder is required to run an LLC in Sri Lanka. It has a separate legal entity and liability is limited to the shares contributed by the shareholders in the business. There is no requirement of minimum capital for starting an LLC. An LLC can be a wholly foreign-owned company with only one requirement that the Secretary of the country should be a Sri Lankan citizen.
A partnership is an agreement where two or more people come together to do business together. The liability is limited as per the agreement between the partners. In Sri Lanka, partnerships are registered with the trade register of the city. The liabilities and other regulations between partners are covered by an agreement which may be either oral or written.
A sole proprietorship is the simplest form of business structure. It requires no capital but the owner’s liability is unlimited. The owner can be either an individual or a group of individuals. There is no paperwork required to open a sole proprietorship and it is easy to operate.
An overseas company is a foreign entity whose business is registered outside Sri Lanka and is governed by the norms set by the parent company in its home country. An overseas company acts as a branch office of the parent company in Sri Lanka and is obligated to publish its financial reports in the Sinhalese language.
Corporate Income Tax
Value-Added Tax
Special Commodity Levy
Local Taxes
Excise and Customs Duty
Enterslice is one of the leading management consultancy firms which offers end-to-end business set-up, financial, regulatory, taxation, legal, and advisory services to early-stage businesses, start-ups, entrepreneurs, and large corporate houses across the globe.
Our Sri Lanka Entry Strategy services involve the following services:
Our Sri Lanka Entry Strategy is classified into the following:
Various business structures available in Sri Lanka are Public Limited Companies, Limited Liability Companies. Partnership, sole proprietorship, and overseas company. Enterslice advises on the suitable type of business structure to opt for doing business in Sri Lanka. We also assist in opening a bank account for the businesses and in post-registration compliance.
Our consultants formulate a strategic plan for establishing and operating the business depending on your business needs. We formulate a budget and develop cash flows for your business. We also review internal control processes and conduct business reviews. We provide advisory for issues related to the management of the business.
Our legal experts provide legal advice on business operations, finances, IP protection, etc. We also draft legal necessary papers for your business and compile the required Paper works. We also ensure that all legal and regulatory compliance are duly complied with.
Enterslice assists in the creation of accurate accounting records in consonance with the accounting standards. We assist in the preparation of annual statutory financial statements and ensure compliance with filing deadlines. Our team members have expert accounting and audit knowledge along with practical experience which will help your business in meeting its industry-specific accounting challenges and financial reporting requirement.
Our tax experts assist in addressing tax issues. Our experts create plans to reduce prospective tax obligations while assuring adherence to changing tax legislation. We provide specialized solutions and crucial guidance on how to handle tax issues. We advise on challenging cross-border transactions in mergers and acquisitions. Throughout the M&A process, we take tax ramifications of local jurisdiction changes into account. In order to maximize tax outcomes and guarantee a smooth execution of transactions, our proactive strategy addresses any tax difficulties and challenges. Our tax compliance advising service seeks to improve customer satisfaction, strategic value, cost containment, and risk mitigation
Our IP Experts assist in IP Compliance. We assist in getting IP registration by filling out applications for registration and compiling relevant necessary papers. Our team of IP experts also advice on IP compliance and IP Protection. We also assist in enforcing IP rights against any infringement.
i. Professional Support
ii. 24*7 Customer Support
iii. Highly Integrated IT Team
iv. Competent Team of Lawyers, CAs, Cost Accountants, CSs, and CPAs
v. All-inclusive solution for our clients
24x7 Client relationship support desk.
Tech-enabled service delivery platform.
Dedicated foreign Investment desk.
50,000+ Network of Attorneys/CPA/CA/CFA.
Strong team of Inhouse Lawyers/CA/CPA/CFA
Individual and Dedicated professionals on every assignment.
We register 100+ Companies every Month
If you have any queries related to the Process, feel free to contact us. We will provide
you with immediate help.
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“I have registered my Trademark through them. The application was filed within 3 days. And the charges were also very reasonable. We got TM Approved in 6 month’s time without any re-submission or objection. They charge high to deliver the best in industry.”
“I would like to thank the Enterslice team for the excellent business plan made by them. They understood our requirement and gave us exactly what we wanted. Thank you Team Enterslice.”
“Thanks for your services. The team is really professional. They make sure that things are delivered in time. The best part about Enterslice is the consultative approach and guiding us on all our business matters.”
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