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Under shareholders, you’ll need to include details of directors, company secretary and shareholders. All that’s left for you to do is to select the type of company and provide basic company details such as; If you’re checking for your company name through the e-ROC website, Registering your private limited company can be a confusing and time-consuming task.

Question 4 – What is the difference between a sole proprietorship and a private limited company in Sri Lanka? Professional fees can easily become the largest part of the bill, even though government charges stay relatively moderate. After registration, there are costs for publishing the public notice in the Gazette and newspapers, making a company seal, and possibly paying a company secretary or lawyer. After incorporation, extra time is needed for TIN registration, bank account opening, and any sector licences.

Registration gets you into the system, but staying compliant means keeping up with tax filings, employment rules, annual returns, and any sector-specific obligations your business carries. The direct filing costs aren’t usually the biggest surprise – professional support is. In some cases, this may be handled through a local service provider. The company must appoint a company secretary, and directors must provide consent forms as part of the incorporation process. The process typically takes around 1–3 weeks, depending on documentation and processing times.

Registering your online business in Sri Lanka really depends on the business structure you choose, such as a Sole Proprietor or a Company. Don’t forget, Simplebooks provides a variety of services that go beyond just the initial setup. You have to provide certified copies of your existing parent company’s foundational documents, such as Articles of Association and Memorandum. The registration process involves a specific set of documents. The registration process is the same as for local, key forms Form 1, Form 18, and Form 19, and involves the online eROC portal, as detailed in Chapter 3

A Private Limited Company is often a great choice if your business is growing, you’re looking for investors, you want a more formal setup, or that personal liability protection is key for you. If this sounds like the right decision for you and your partners, taking the time to understand all the details is a wise first step. For a comprehensive of the initial steps before registration, such as generating a business idea and market research, you can refer to the guide on How to Start a Business in Sri Lanka. Amongst the South Asian Countries, Sri Lanka has the most liberal trade market, and it allows up to 100% Foreign Investments in the Private sector with some restrictions in certain business areas.

Both local and foreign trader can apply for Limited Liability Company (LLC) Registration in Sri Lanka. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. mercury sri lanka of partners and leading lawyers offer services across extensive practice areas and ensure our clients receive optimal legal advice. Readers should not rely on it as a substitute for specific legal advice in relation to any particular matter. This is only an overview of the applicable law, and should not be relied upon as legal advice or recommendation by D. Only two shareholders and two directors, who are not required to be Sri Lanka nationals, must be appointed.

In Sri Lanka, partnerships are registered with the trade register of the city. The shareholders have limited liability to the extent of capital invested by them. A public limited company has a minimum of two directors and shareholders. To become familiar with the Sri Lankan market, continue reading or reach out to our experts for in-depth knowledge about the market. If you do not hear from us during today, please check your Spam inbox or send an email to [email protected] Is there a specific country/area where you would like to incorporate?

Even though these forms look simple, I recommend matching signatures to passports or NICs and checking dates carefully. It records the approved company name, the registered office address, and the full details of each initial director and the company secretary. Once approved, the name is kept aside for a limited time, usually around three months, while incorporation is completed. Name reservation asks the ROC to check whether the proposed name is acceptable and not too close to an existing company.

A private limited company, on the other hand, is a separate legal entity registered with the ROC, where shareholders normally lose only what they invested. When all documents are correct, incorporating a private limited company through the e-ROC portal can sometimes be completed within a few business days. For someone working through how to register a business in Sri Lanka, that support can save a lot of time and stress.