Companies can register under a private limited entity or you can do so under a sole proprietorship, Registering a company in Sri Lanka as a private limited company will give you more benefits and more security.

Being a limited private company, you and your company will act as two separate parties, your business assets and liabilities are separate from you and your family.

Here we will show you how to register a private limited company with step by step.

RESERVE A SINGLE COMPANY NAME, FROM THE COMPANY REGISTER (ROC)

The search for a unique company name can be done online through the Business Registry Department website (www.drc.gov.lk).

The reservation of the company name is valid for 3 months. (Rs. 2,000 + VAT 15%)

SUBMISSION OF REGISTRATION FORMS

After obtaining name approval, submit Forms No. 1, 18, and 19. All forms must be printed or typed. (Section 475). Handwritten forms will not be accepted. We have moved on and attached the forms to make it easier for you.

In accordance with Article 221 (1) of the Companies Act No. 7 of 2007, each company will have a director and a secretary.

The Secretary of the Company must be hired before incorporation because one of the requirements to incorporate is a consent form that the Secretary of the Company must sign saying that he / she will be the secretary of the newly formed company

Form 1 - Company registration (Rs 4,000 + 15% VAT)

Form 18 - Consent and Director Certificate (Rs. 2,000 + VAT 15%)

Form 19 - Consent and Certificate of Secretary / Secretaries (Rs. 2,000 + VAT 15%)

SEND ASSOCIATION ITEMS

A company can adopt the standard set of Articles of Association in Table A of the Law of Companies of Sri Lanka or write their own Articles of Association. You must send 2 copies. (Rs. 2,000 + VAT 15%)

GIVE PUBLIC NOTICE OF INCORPORATION

In accordance with Section 9 of the Law of Companies of Sri Lanka No. 7 of 2007 and section 3 (a) of the Gazette Notification No. 1566/32 dated 12 / 09.2008, the public notification must be delivered within 30 business days after the establishment of a company.

The notice of incorporation specifying the name of the company, the registration number, the date of incorporation and the address of the registered office must be published in the Government Gazette and in any newspaper in three languages: English, Sinhala and Tamil. Proof of publication must be submitted to the Registrar of Companies.

The publications of newspapers once delivered with the payment that depends on the size of the notice, will appear within 3 to 4 days. The publication in the Gazette will appear within 2 weeks after the submission of the request with payment. The Registrar of Companies accepts a copy of the receipt issued by the Government Printer as proof of publication. (Rs. 8,500)

GET THE TAX IDENTIFICATION NUMBER (TIN)

The applicant or an authorized representative of the applicant must be physically present in the Taxpayer Services Unit of the Internal Revenue Department to collect and complete the application for a Taxpayer Identification Number (TIN) with supporting documents that include a copy of Form 1, Certificate of Constitution and statutes. (Rs. 1,500)

Also read: Incorporating a business in Sri Lanka