Enterslice assists you in establishing your dream company in Sri Lanka. We hold your hand from the beginning to the end, from your bank account opening in the Regional Bank of Sri Lanka to obtaining your incorporation approval for your dream company.
Registering your company in Sri Lanka expands the business to the Sri Lankan mainland. To summarise, you do not need to be a Sri Lankan Citizen. Any foreign national can register or set up a company in Sri Lanka as an LLC (Limited Liability Company) or Incorporation (Inc) by following the due procedure. Today, entrepreneurs seeking to take their businesses to a global level are eager to set up a company in Sri Lanka. However, it may not be as simple as one may think. Given the multi-dimensional nature of the registration process, one needs to be aware of the registration process and other related requirements.
Our assigned officer for your task provides cost-effective solutions for your startups and also assists in optimising the plan of action that suits your business operations.
You will be assigned a dedicated Project officer who will provide expert guidance and support to help you make informed financial decisions concerning company registration in Sri Lanka.
Our offerings include flexible packages that can be tailored to meet your specific needs and business goals at your discretion.
Opening a bank account in the name of the company for its operations in the mainland of Sri Lanka is the first step of company incorporation, which is eventually a challenge due to alien local laws. Therefore, assistance is needed to successfully proceed with this stage, which is another challenge for finding the proper help.
Business Model Selection is an essential part of company incorporation as it decides the benefits and the losses offered to your company by the government regimes in the future times. Moreover, the selected model must match the nature of business operations.
Tax compliance must be handled; otherwise, neglected and missed-out compliances can further challenge the company's incorporation. Therefore, it becomes a challenge to abide by all the compliances for the smooth functioning of your company
The local address is a mandatory requirement for the company's incorporation in Sri Lanka, which becomes a challenge for non-S Sri Lankan residents looking forward to incorporating a company in the mainland.
Sri Lanka laws and regulations specify a range of types of companies for incorporation that have been designed as per the needs of the economic market of Sri Lanka. This range of companies varies per the number of directors on board, paid-up capital, liability, shareholding, and business size. Following are a few such forms of companies to be registered in Sri Lanka:
In Sri Lanka, a sole proprietorship is a typical unincorporated business structure, meaning that usually just one person, the owner in place, owns these companies. Therefore, it lacks a separate or distinct identity from its owner. Consequently, all the decisions are made by the owner, and the profit and loss are associated with the owner's liability, resulting in considering business revenue as the owner's revenue.
The partnership is an unincorporated form of company in Sri Lanka that asks for at least two individuals to come together to run the business. Here, only 2–20 individuals may be partners, and their partnership is governed by a contract that outlines the partners' obligations and responsibilities. The partners generally share equal liability regarding, either financial or legal. The same contract managing the partnership's operations also governs the profit-sharing ratio.
Going by the name, this company holds limited liability, and the number of directors or shareholders is also finite. This form of company is ideal for small businesses with limited liability and a smaller number of shareholders. You are not allowed to sell your shares via the stock market. Moreover, the minimum requirement for the board is two members, where one should be a shareholder and one should be a director. The upper limit for the number of shareholders also lands at 50.
A public limited company is a company that is open to public shareholding and is registered on a stock exchange. In such a company, shareholders shall range from a minimum number of seven to a maximum of any number, and for directors, there should be a minimum of 2 directors.
In this form of company, the Guarantors own the company rather than directors or shareholders. Moreover, there exist limitations of share issuances. A Company Limited by Guarantee's members operates for their contribution to the company's assets according to the specifications prescribed in its articles of incorporation.
Utility Bills Such as electricity, municipal tax receipts, or water bills, Memorandum of Association (notarised), Articles of Association (notarised), Board Resolution (If required), Publication of the decision to open the company in the National Gazette, Trade name for your company
Application Form for Registration and Fees, Application forms issued by the Trade Registrar.
Passport Copies of all the Shareholders, Passport Copies of all the Directors, PAN Card (in the case of an Indian national) of all the desired Shareholders/Directors, Photo Identity Proof (Driver's License or any other registered photo ID card) of all the chosen Shareholders/Directors., Specimen Signatures of all the desired Shareholders/Directors, Passport Copy for NRIs/Foreigners Directors.
At Enterslice, we're committed to giving our customers excellent service and ensuring that their financial needs are satisfied precisely and accurately. Our group of committed experts goes above and beyond to produce outstanding outcomes. Our top goal is to make sure you're satisfied. Therefore, we work hard to surpass your expectations by addressing your needs and worries and offering individualised solutions. We appreciate your trust and put in great effort to ensure you're delighted.
Sri Lanka laws have been knitted to create a corporate-friendly atmosphere for businesses to breathe and grow. The environment assists in transparency and flexibility to the operations. This allows more businessman to stand their feet in the Sri Lanka market with a significant amount of ease.
Sri Lanka's trade market is justifiable in terms of rates. Tax exemption is also available to provide a friendly economic state for entrepreneurs to enter and establish companies and businesses. This improves the business experience by reducing the tax burdens.
Sri Lanka rules and regulations have drafted the Sri Lanka Political Climate to be stable, eventually attracting more and more investors to the companies. The Sri Lanka Market has witnessed a fair range of investors, human resources, customers, collaborations, etc., boosting the economy.
Sri Lanka has a diversified range of Human Resources, so businesses use Sri Lanka as a go-to-market. Sri Lanka's emphasis on education has produced skilled professionals across various fields, ensuring a talented pool of skilled resources is accessible.
The Sri Lanka Economic System has been regulated by such laws that produce a Liberal Market for investors to be attracted. The Sri Lankan market is considered one of the most liberal trade markets among the south Asian countries. This allows all sort of businesses to establish their foot into the market to stand with the market operations.
In most sectors, foreign investment is permitted up to 100%. The consequence is that foreign businesses' operating conditions are pretty lax. Moreover, Foreign investors are allowed to have ownership control over the company.
Enterslice offers a wide range of services, including company incorporation advisory services. With the help of a team of experts, we ensure that your needs are met and requirements are complied with, as customer satisfaction is our ultimate goal. Company Incorporation Advisory includes the process of understanding and creating a plan of action for successfully bringing the company to the state of incorporation by understanding the local and respective regulations. Understanding the laws allows the team to serve the requirement plan for the successful incorporation process in any of the states in Sri Lanka, as the rules and structure differ from state to state and even city to city.
Researchers have found that organisations adapting to the changing canvas of market practices and trends have better results than traditional and old approaches. Complying with the recent technological trends in the Sri Lankan industry, Enterslice focused on emerging start-up companies and brought innovation to their traditional Chartered Accountants and legal profession services, disrupting traditional Chartered Accountants' practice mechanisms and lawyers.
If you have any questions or problems in recovery, feel free to contact us. We will provide you with immediate help.
Before proceeding with the other Paper works process, you must obtain the name clearance for your Business or Company name to be incorporated under Sri Lanka Laws. The name may be checked on the Department of the Registrar of Companies website. Once obtained, the reservation is valid for three months from the issue date.
Once the name is approved, you may submit the following forms: Form 1 [Company Registration], Form 18 [Consent and Certificate of Director], and Form 19 [Consent and Certificate of Secretary or Secretaries]. The form must be printed or typewritten according to section 475 of the Companies Act; otherwise, DRC does not accept handwritten forms.
As per the company's act no. 7 of 2007, each company must have an Article of Association with specific details such as the company's Objects, the shareholders' Rights and Obligations, and the company's management and administration process. You may either adopt a pre-drafted PR standard set of Articles of Association mentioned under Table A of the Companies Act of Sri Lanka or draft your specific Articles of Association. You are required to submit two copies of the necessary papers.
Under Sri Lankan laws, it is mandatory to issue a public notice mentioning the company's details, such as its name, registration number, date of incorporation, registered office address, etc. Such notice must be published in a local newspaper [all three languages: Sinhala, Tamil, and English] and at least one issue of a Gazette as well. Lastly, this announcement is supposed to be circulated within the Business area.
Ready to take the next step? Book a 1:1 call with us to discuss your financial goals and how our Incorporation services can help you achieve them.
Regarding corporate tax, where the company's taxable profit exceeds Rs. 5,000,000, the rate for public Quoted is 30%, and for Others, it is 32.5%. For the dividends, the tax is liable at the rate of 10%
Necessities 5% Not eligible, except production machinery and motor vehicles for transportation, 15% Standard Rate 15%, 18% Luxury Rate 15% only. Exports and the supply of services from Sri Lanka used abroad are subject to a zero rate.
Another tax in Sri Lanka is withholding tax, which is charged on all dividends. It is set at 10% for dividends, 10% for Lottery Prize (> Rs.500,000), 10 % for interest, 10% for Treasury Bills, etc.
Setting up a company in Sri Lanka is an east hunt if the following way is followed:
Select your company name < permission < Choose an enterprise type < Directors & Shareholders details submission < Prepare necessary papers and other forms < Fill online application < Incorporation < Issue a notice in the public newspaper
Over the 20+ years in the Company registration services in Sri Lanka, our team of experts has contributed to countless success stories of businesses. From startup ventures to established organisations, we have helped businesses achieve legal status, make strategic decisions, and accelerate action plans. Our expertise in financial management and our commitment to understanding your unique business needs have consistently resulted in positive outcomes for our clients.
We are known for offering tailor-made solutions to our clients with our client-centric and end-to-end support. We have successfully incorporated 300+ companies worldwide.
Collaborated with Over 100 Funded Start-ups
Raised a Total of $500 Million for Various Early-Stage Companies
Boasts a Global Network of Angel Investors, Recognized by VCs
Holds the World's Largest Network of Experienced CFOs
-- Testimonials
“Enterslice use technology better than others. That saves time and money; Team enterslice is more efficient than traditional competitors, and that helps to pass on the cost advantage to its clients. The company is building a high-level transparency in legal services by optimum use of technology and process automation in consulting. I highly recommend this company.”
“Excellent advisory role by Enterslice Team. They are a trusted partners to us. Narendra and his team helped us with our pre NBFC applications and Post NBFC advisory services.”
“Amazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing.”
“I chose Enterslice to start my new Indian adventure as entrepreneur, and respect my past experience i was surprised by their professionalism. In particular, Raksha T. followed my startup process, and i was delighted with her support on every moment. Great, great experience.”
“I came to know about Enterslice through a friend. Since then I have done GST Registration through them. The services are consumer centric and fast. I have recommended them to many of my acquaintance already.”
“Great set of people working together. Very customer friendly. I am very satisfied with the food license registration services and will definitely come back for other similar requirements.”
“They provided customized and Highly skilled CA &services. The management invests themselves in your work. They ensured timely NBFC registration and are always ready and prepared with excellent advisory services. The best part of working with Enterslice is they are not having expertise of law but they are well versed with Digital marketing skills &fintech business model.”
“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.”
Haiden Group - UAE
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