Frequently Asked Questions

Everything you need to know about company registration and corporate services in Sri Lanka

🏢 Company Registration Basics

How much does it cost to register a company in Sri Lanka in 2025?

The total cost to register a private limited company in Sri Lanka with us starts at LKR 26,900 (Approximately 89 USD). This includes:

  • Name reservation
  • Form 1
  • Form 18 (one director)
  • Form 19
  • Articles of Association

At Incorp Lanka Solutions, we handle the entire process with transparent pricing and no hidden costs.You can see more details here

How long does company registration take in Sri Lanka?

With the 100% online system we use, company registration typically takes 3-10 days from name approval to receiving your Certificate of Incorporation.

Our streamlined process ensures faster processing:

  • Name reservation: 1-2 business days
  • Document preparation: 1-2 days
  • ROC processing: 3-7 days
  • Certificate issuance: Same day digitally
What is the minimum share capital required for a private limited company in Sri Lanka?

There is no minimum share capital requirement for private limited companies in Sri Lanka under the Companies Act No. 7 of 2007.

You can start with as little as LKR 1 per share. However, we recommend considering:

  • Your business funding requirements
  • Bank account opening minimums
  • Credibility with customers and suppliers
  • Future expansion plans
Can a single person register a company in Sri Lanka?

Yes! A private limited company in Sri Lanka can be formed with just one person who can be both the sole director and sole shareholder.

However, you still need:

  • A qualified company secretary (cannot be the same person as director)
  • A registered office address in Sri Lanka.(Let us know if you need one)
  • Compliance with all statutory requirements

🌍 Foreign Investment & Overseas Clients

Can foreigners register a company in Sri Lanka?

Yes, foreigners can register companies in Sri Lanka, but must comply with the Foreign Exchange Act and additional regulations.

Foreign investors need:

  • Compliance with foreign exchange regulations
  • A local company secretary (Sri Lankan resident)
  • Registered office address in Sri Lanka
  • Board of Investment (BOI) approval for certain sectors

We specialize in foreign company registrations and can handle the entire process remotely.

What is the maximum foreign ownership allowed in Sri Lanka?

Foreign ownership limits depend on the business sector:

  • 100% foreign ownership: Most manufacturing, IT services, tourism
  • Up to 40%: Some service sectors
  • Restricted sectors: Banking, telecommunications, media

We provide detailed guidance on sector-specific requirements and help obtain necessary approvals.

Can I register a company in Sri Lanka from abroad?

Absolutely! We offer 100% remote company registration services for overseas clients.

Our international services include:

  • Video consultations in multiple time zones
  • Digital document processing
  • Power of Attorney arrangements
  • Courier services for physical documents
  • WhatsApp support for real-time updates

📋 Documents & Requirements

What documents are required for company registration in Sri Lanka?

Required documents include:

  • For Sri Lankan directors/shareholders: NIC, Passport or Driving License
  • For foreign directors/shareholders: Passport, Proof of address
  • Company secretary: Registration certificate, Consent letter
  • Registered office: Proof of address, Consent letter
  • Articles of Association: Custom or standard format

We prepare all forms (Form 1, 18, 19), documents and handle document submission.

Do I need a local address to register a company in Sri Lanka?

Yes, every company must have a registered office address in Sri Lanka. This is where official communications are sent.

Options include:

  • Your business premises
  • Residential address (with proper consent)
  • Professional registered office service (recommended)
  • Virtual office solutions

We provide registered office services if you don't have a local address.

What is a company secretary and why do I need one?

A company secretary is mandatory for all Sri Lankan companies and must be a qualified professional registered with the Institute of Chartered Secretaries and Administrators (ICSA) Sri Lanka.

Company secretary responsibilities:

  • Ensuring statutory compliance
  • Maintaining company registers and records
  • Filing annual returns
  • Organizing board meetings
  • Acting as liaison with government authorities

We provide qualified company secretary services.

⚖️ Business Types & Structures

What's the difference between Private Limited Company, Partnership, and Sole Proprietorship in Sri Lanka?

Private Limited Company (Pvt Ltd):

  • Limited liability protection
  • Separate legal entity
  • Easier to raise capital
  • Professional credibility
  • Tax advantages

Partnership:

  • Shared responsibilities and profits
  • Lower setup costs
  • Flexible management structure
  • Personal liability for partners

Sole Proprietorship:

  • Simplest business structure
  • Complete control
  • Direct tax benefits
  • Personal liability for debts
Which business structure is best for startups in Sri Lanka?

Private Limited Company is recommended for most startups because it offers:

  • Limited liability protection for founders
  • Easier access to funding and investors
  • Professional credibility with customers
  • Tax planning flexibility
  • Ability to issue shares to employees
  • Perpetual succession

We offer free consultations to help you choose the right structure for your specific needs.

Post-Registration & Compliance

What do I need to do after my company is registered?

After registration, complete these essential steps:

  • Tax registration: Obtain TIN number from Inland Revenue Department
  • Bank account opening: Present Certificate of Incorporation to bank
  • Business licenses: Sector-specific permits if required
  • EPF/ETF registration: If hiring employees
  • VAT registration: If annual turnover exceeds LKR 12 million

We provide guidance and support for all post-incorporation requirements.

What are the annual compliance requirements for Sri Lankan companies?

Annual compliance requirements include:

  • Annual returns: Filed with ROC within 60 days of AGM
  • Income tax returns: Filed within 8 months of year-end
  • Audited financial statements: Required for companies above certain thresholds
  • Company secretary fees: Annual retainer
  • License renewals: If applicable to your business

We handle all annual compliance requirements proactively to avoid penalties.

How do I open a bank account for my new Sri Lankan company?

To open a corporate bank account, you need:

  • Certificate of Incorporation
  • Articles of Association
  • Form 20 (List of directors and shareholders)
  • Board resolution for account opening
  • Directors' and shareholders' identification
  • Initial deposit (varies by bank)

We assist with bank account opening and provide all necessary board resolutions and documentation.

💰 Pricing & Services

What services does Incorp Lanka Solutions offer?

Our comprehensive services include:

  • Company Registration: Private limited companies, partnerships, sole proprietorships
  • Corporate Secretary Services: Qualified registered secretary services
  • Compliance Management: Annual returns, statutory filings
  • Legal Support: Contract drafting, legal documentation
  • Accounting Services: Bookkeeping, tax preparation, auditing
  • Trademark Registration: Brand protection services
  • IT Support: Website development, digital solutions
Do you offer package deals for new companies?

Yes! We offer comprehensive startup packages that include:

  • Company registration (all government fees included)
  • First-year company secretary service
  • Tax registration assistance
  • Bank account opening support
  • Company seal and certificate folder
  • Basic website package
  • Professional email setup

Contact us for current package pricing and special offers.

How much do company secretary services cost annually?

Company secretary fees vary based on company activity level:

  • Basic service starts from LKR 10,000 (per year): For dormant/minimal activity companies
  • Standard service: For active trading companies
  • Premium service: For companies requiring frequent statutory work

All packages include annual return filing, statutory register maintenance, and government correspondence handling. Contact us for detailed pricing.

🛡️ Trademark & Intellectual Property

Should I register my trademark when incorporating my company?

Yes, we highly recommend registering your trademark alongside company incorporation to protect your brand identity.

Benefits of trademark registration:

  • Exclusive rights to your brand name and logo
  • Legal protection against copycats
  • Increased business credibility and value
  • Asset value for future business expansion
  • Prevents competitors from using similar marks

We offer trademark + company registration bundle packages for cost savings.

How long does trademark registration take in Sri Lanka?

Trademark registration in Sri Lanka typically takes 03-18 months for complete processing:

  • Initial examination: 3-6 days
  • Publication period: 2 months (for objections)
  • Registration: 6-12 months (if no objections)

We handle the entire process including trademark searches, application preparation, and responding to examiner queries.

Still Have Questions?

Our expert team is ready to guide you through your business registration journey in Sri Lanka.

Get Free Consultation