Different ways to register a company in Sri Lanka

There are several ways to register a company according to company secretaries in Sri Lanka, each suited to different types of businesses and structures. Here are the main methods you can choose for incorporation of a company in Sri Lanka:

1. Private Limited Company:

• Procedure: Submit the required documents to the Registrar of Companies, including the company name, Articles of Association, details of directors and shareholders, and a registered address.
• Requirements: Minimum of 1 director and 1 shareholder (can be the same person). The company must have a registered office in Sri Lanka.

2. Public Limited Company:

• Procedure: Similar to a private limited company but requires additional regulatory compliance. This type involves issuing shares to the public.
• Requirements: Must have at least 2 directors and 7 shareholders. There are stricter regulatory and reporting requirements.

3. Partnership:

• Procedure: Register the partnership with the Registrar of Companies, providing the partnership deed and details of partners.
• Requirements: At least 2 partners and no more than 20. Partners are jointly liable for the business’s obligations.

4. Sole Proprietorship:

• Procedure: Register the business name with the relevant local authorities.
• Requirements: Owned and run by a single individual. The owner is personally liable for all business debts and obligations.

5. Branch Office of a Foreign Company:

• Procedure: Obtain approval from the Board of Investment (BOI) and register with the Registrar of Companies. The branch must comply with local regulations and report to the parent company.
• Requirements: Must be established by a foreign company wishing to conduct business in Sri Lanka.

6. Representative Office of a Foreign Company:

• Procedure: Similar to a branch office, but limited to non-commercial activities like market research and liaison work.
• Requirements: Limited to non-commercial activities and cannot engage in direct business operations.

7. Non-Governmental Organisation (NGO):

• Procedure: Register with the Ministry of Internal Affairs and the Department of Social Services.
• Requirements: Must be established for non-profit purposes, such as charity or development work.

Each method for business registration in Sri Lanka has its own legal and regulatory requirements, so it is often helpful to consult with a legal expert or business to ensure compliance and choose the best structure for your needs. You search online for “business lawyers near me” to find a reputed legal professional to handle your company incorporation.