Register a Business in Sri Lanka: A Complete Guide for 2025

Sri Lanka offers a strategic gateway to South Asia, boasting investor-friendly policies, a skilled workforce, and a streamlined company registration process. Whether you're a local entrepreneur or a foreign investor, understanding the steps to register a business in Sri Lanka is crucial for a successful venture.

Sri Lanka Set Up Packages

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✅ 1. Strategic Geographic Location

Situated at the crossroads of major shipping routes in the Indian Ocean, Sri Lanka offers direct access to South Asian, Middle Eastern, and Southeast Asian markets. This makes it an ideal hub for logistics, manufacturing, and trade.

✅ 2. Investor-Friendly Government Policies

The government of Sri Lanka actively promotes foreign direct investment (FDI) through tax incentives, BOI-approved projects, and simplified procedures to register a business in Sri Lanka. New reforms have made it easier than ever to incorporate a company online via the eROC system.

✅ 4. Free Trade Agreements (FTAs)

Sri Lanka enjoys preferential market access through several FTAs with countries like India, Pakistan, and Singapore, as well as GSP+ privileges with the EU. This opens up massive export opportunities for businesses registered in Sri Lanka.

✅ 6. No Restrictions on Repatriation

Foreign investors can remit dividends, profits, and capital gains freely in foreign currency—making Sri Lanka an attractive location for international entrepreneurs looking to register a business in Sri Lanka with ease of exit.

Main Advantages of doing business in Sri Lanka

Requirements for Business Registration in Sri Lanka

1. Company Name Reservation

You must reserve a unique company name through the Department of Registrar of Companies (ROC) using Form A16.
Names should not be identical or similar to existing entities listed in the Sri Lanka company register.

2. Minimum Number of Directors and Shareholders

At least one director and one shareholder are required.
Directors and shareholders can be individuals or corporate entities.
There are no residency or nationality restrictions, allowing full foreign ownership in most sectors.

3. Registered address in Sri Lanka

Every business must have a physical registered office address in Sri Lanka where official communications can be received.
This address will be listed on the company registration certificate.

4. Legal Documents

You’ll need to prepare and submit the following:

Form 1 – Company Registration form
Form 18 – Consent and Certificate of the Director
Form 19 – Consent and Certificate of the Secretary
Articles of Association – Standard or customized
Copies of valid ID or passport of directors/shareholders

5. Share Capital

No official minimum capital requirement.
It is recommended to declare a reasonable amount of authorized and issued share capital during incorporation.

6. Tax Identification Number (TIN)

Once the company is incorporated, apply for a TIN at the Inland Revenue Department.
A TIN is required to operate legally and file taxes.

Key Legal Requirements (Summary)

Most of these steps can be completed online or remotely with the help of a professional service provider such as Consultrio, making it easier than ever to register a company in Sri Lanka from abroad.

Sri Lanka Corporate Structures and Their Advantages

In the Sri Lanka, various company types cater to diverse business needs. Each type offers unique advantages to suit different business goals.

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1. Private Limited Company (Pvt Ltd)

The most popular and flexible option for both local and foreign entrepreneurs.

Key Advantages of Sri Lanka Pvt Ltd Structure:

Separate legal identity from owners.
Limited liability for shareholders.
Minimum 1 director and 1 shareholder.
Foreign ownership is allowed.
High credibility with clients and banks.
Can raise capital through private investment.
Ideal for startups, SMEs, and foreign-owned entities.

2. Public Limited Company (PLC)

Designed for larger businesses planning to raise capital from the public.

Key Features:

Can issue shares to the public.
Requires a minimum of 7 shareholders and 2 directors.
Subject to higher compliance under Sri Lanka’s Companies Act.

Advantages:

Access to public capital markets.
Enhanced corporate visibility and credibility.

3. Sole Proprietorship

A simple structure for individual entrepreneurs offering full control.

Key Features:

Owned and operated by one person.
Easy and inexpensive to set up.

Advantages:

Minimal compliance.
Full control over decision-making.
Low setup and operational costs.

4. Overseas Company / Branch Office

For foreign entities wanting to establish a business presence in Sri Lanka without full incorporation.

Key Features:

Must register with the Registrar of Companies.
Must appoint a local authorized representative.

Advantages:

Easier market entry for testing or limited operations.
Not a separate legal entity—parent company retains full liability.

Tax System in Sri Lanka: What Businesses Need to Know

When you register a business in Sri Lanka, understanding the local tax regime is crucial for compliance and financial planning. Sri Lanka offers a relatively straightforward tax structure for companies, with special incentives for certain industries and exporters.

1. Corporate Income Tax (CIT)

The standard corporate tax rate in Sri Lanka is:

30% – General corporate income tax rate.
Reduced Rates:
- 14% for small and medium enterprises (SMEs).
- 14% for exports of goods and services.
- 18% for manufacturing businesses.

Note: Newly registered businesses that fall under strategic sectors may qualify for additional tax incentives.

2. Value Added Tax (VAT)

Standard Rate: 18%
Registration Threshold: Mandatory VAT registration if turnover exceeds LKR 3 million per quarter.
Applies to both goods and services, especially for businesses engaged in trading, manufacturing, or professional services.

3. Withholding Tax (WHT)

Withholding tax is applicable on certain payments such as:

Dividends: 14%
Interest: 5% – 15%
Rent, royalties, and service fees to non-residents
It is the responsibility of the paying party (often the business) to withhold and remit this tax to the Inland Revenue Department.

4. Personal Income Tax (for Directors/Employees)

Withholding tax is applicable on certain payments such as:

Dividends: 14%
Interest: 5% – 15%
Rent, royalties, and service fees to non-residents
It is the responsibility of the paying party (often the business) to withhold and remit this tax to the Inland Revenue Department.

5. Tax Incentives & BOI Privileges

If you register a company under the Board of Investment (BOI) of Sri Lanka, you may benefit from:

Tax holidays (up to 5–10 years depending on the project).
Duty-free imports for capital goods.
Exemptions from dividend tax for BOI-approved companies.

5. Tax Incentives & BOI Privileges

Sri Lanka Company Registration Process

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Business Name Reservation

Our team begins with reserving and searching your company name in Sri Lanka Company Registry . Ensuring your chosen name is unique and compliant is crucial. This helps avoid conflicts and aids in smooth company in registration in Bermuda.

Application form and Submission to Registrar (3-4 days)

Next, we prepare and file all necessary documentation. This includes creating the Memorandum and Articles of Association. These documents lay the foundation for your company's structure.

Approval and Issuance

Once the application meets all requirements set by Sri Lanka Companies Registry, your corporate documents will be issued shortly.

Bank Account Opening

We assist in opening offshore bank accounts tailored to your international business needs for your Sri Lanka Company.

Ongoing Support

From regulatory compliance to operational guidance, Consultrio remains your trusted partner for continuous business support. Ongoing obligations and compliance should be understood. Keeping the company in good standing requires meeting these obligations. Awareness of these responsibilities is critical to avoid penalties.

Our international banking partners, Consultrio, can help you open a bank account for your business in Sri Lanka.

Does the license include residency visas for owners or employees?

Yes, once the company is incorporated in ADGM, you can apply for UAE residency visas for shareholders, employees, and their dependents.
What are the key requirements for obtaining the license?

Applicants must submit a detailed business plan, compliance policies, financial projections, fit-and-proper documentation for key personnel, and engage in pre-application meetings with the FSRA.
What are the capital requirements for an ADGM CAT 4 license?

Firms must maintain a minimum base capital of USD 10,000, but this may vary depending on the business model and associated risks.
Who needs an ADGM CAT 4 license?

The ADGM CAT 4 license is ideal for financial advisory firms, fund marketing entities, placement agents, and introducers who want to operate in a regulated environment without discretionary fund management.
Can I operate remotely with an ADGM CAT 4 license?

While remote operations are possible, firms must have a registered presence in ADGM, which includes maintaining a physical or flexi-desk office within the jurisdiction.
How long does it take to get an ADGM CAT 4 license?

The licensing process typically takes 2 to 4 months, depending on the completeness of the application, FSRA response times, and applicant readiness for regulatory engagement.
Will I receive support with opening a UAE bank account?

Yes, we provide complete assistance with corporate and personal bank account openings through our network of partner banks in the UAE.
What is an ADGM CAT 4 license?

An ADGM Category 4 license allows firms to conduct non-discretionary financial services such as advising on investments, arranging deals, and marketing financial products without managing client assets directly.
What is an Anjouan gaming license?

An Anjouan gaming license is a government-issued authorization from the island of Anjouan, part of the Union of the Comoros. It allows online gaming companies to legally operate casinos, sportsbooks, lotteries, and other iGaming services. It’s one of the most affordable offshore gaming licenses with global appeal.
Can I operate internationally with an Anjouan license?

Yes, the Anjouan gaming license allows operators to serve players in most global markets, except for a few restricted jurisdictions like the U.S., U.K., and France. It is especially popular among platforms targeting Latin America, Asia, Africa, and crypto-friendly regions. Always check compliance for each target country.
Is the Anjouan license recognized by payment processors and game providers?

Yes. The Anjouan license has gained increasing international credibility and is recognized by many payment gateways, banks, and software providers. It offers a strong foundation for launching or expanding your gaming brand with legitimate regulatory backing.
Do I need to open a company in Anjouan?

No. One of the key advantages is that you can apply using your existing company without having to form a new entity in Anjouan. This significantly reduces setup time and costs, making the license ideal for startups and scaling platforms.
What types of licenses are available in Anjouan?

Anjouan offers two main license categories: B2C License – for operators running online casinos, sportsbooks, or gaming platforms B2B License – for companies offering white-label services, software, or game aggregation to other operators
How long does it take to get an Anjouan gaming license?

The registration process typically takes 3 to 5 weeks from the date of full document submission. This makes Anjouan one of the fastest jurisdictions for obtaining an online gambling license. The process is fully remote and streamlined for international applicants.
What is an Anjouan gaming license?

An Anjouan gaming license is a government-issued authorization from the island of Anjouan, part of the Union of the Comoros. It allows online gaming companies to legally operate casinos, sportsbooks, lotteries, and other iGaming services. It’s one of the most affordable offshore gaming licenses with global appeal.
Can a foreigner register a company in Sri Lanka?

Yes, foreigners can fully own and register a company in Sri Lanka in most sectors. There are no citizenship or residency requirements for directors or shareholders, except in a few restricted industries such as travel agencies and freight forwarding.
What are the requirements to register a company in Sri Lanka?

Key requirements include: A unique company name At least one director and one shareholder (can be the same person) A local registered address in Sri Lanka A qualified company secretary Submission of the required incorporation forms and documents
Can I open a corporate bank account in Sri Lanka remotely?

Some banks allow remote account opening with proper notarized or certified documentation, especially through local representatives or company secretaries. However, certain banks may require the physical presence of directors or authorized signatories, especially for foreign-owned businesses.
What is the tax rate for companies in Sri Lanka?

The standard corporate tax rate in Sri Lanka is 30%, with reduced rates of 14% for SMEs and exporters, and 18% for manufacturing companies. VAT is charged at 18%, and businesses must also apply for a Taxpayer Identification Number (TIN) post-incorporation.
What is the minimum deposit required to open a business bank account in Sri Lanka?

There is no fixed government-mandated minimum deposit, but most banks require an initial deposit. The amount typically depends on the type of company: Local-owned company: Usually LKR 10,000–50,000 (approx. USD 30–150) Foreign-owned company: Often USD 500–2,000 depending on the bank Some international banks may require higher initial deposits for foreign companies as part of their compliance and due diligence procedures.
Which banks in Sri Lanka are most business-friendly?

Popular and business-friendly banks for local and foreign investors include: Commercial Bank of Ceylon Bank of Ceylon (BOC) Sampath Bank Hatton National Bank (HNB) National Development Bank (NDB) Each offers different packages and features tailored to business needs, including internet banking, multi-currency accounts, and international transfers.
Can I register a Sri Lankan company remotely?

Yes, you can register a Sri Lankan company remotely. The entire process can be completed online via the eROC system, and many professional service providers offer full remote support, including for foreign investors.
How long does it take to register a company in Sri Lanka?

Typically, the company registration process in Sri Lanka takes around 3–5 working days, assuming all documents are in order. Name reservation can take an additional 1–2 days if submitted online.
Is there a minimum capital requirement for company formation in Sri Lanka?

No, there is no official minimum capital requirement to register a private limited company in Sri Lanka. However, a reasonable declared share capital is generally recommended based on your business activity.
What type of company is best for doing business in Sri Lanka?

A Private Limited Company (Pvt Ltd) is the most popular and flexible structure. It allows for limited liability, 100% foreign ownership, and is ideal for startups, trading businesses, and international entrepreneurs looking to register a business in Sri Lanka.
Can a foreigner register a company in Sri Lanka?

Yes, foreigners can fully own and register a company in Sri Lanka in most sectors. There are no citizenship or residency requirements for directors or shareholders, except in a few restricted industries such as travel agencies and freight forwarding.
What types of companies can be registered in Bermuda?

Bermuda offers several corporate structures under the Bermuda company register, including: Exempted Company – Ideal for international business with tax advantages Limited Liability Company (LLC) – Suited for joint ventures and private funds Local Company – For businesses serving the Bermuda market Segregated Accounts Company (SAC) – Common in insurance and asset management sectors
How much does it cost to register a company in Bermuda?

The cost to register a company in Bermuda varies based on the company type and share capital. For most exempted companies, government fees typically range from $5,900 to $8,900
Can I register a Bermuda company remotely?

Yes, you can register a company in Bermuda remotely without needing to travel to the island. This makes Bermuda a highly convenient option for entrepreneurs and investors worldwide who are looking into how to register a company in Bermuda from abroad.
What is the best company type for international business?

For most foreign investors, the Exempted Company is the best choice. It allows full foreign ownership, offers strong asset protection, and benefits from Bermuda’s zero-tax environment. If you're asking how to register a company in Bermuda for international operations, this is the go-to structure.
Are Bermuda companies subject to taxes?

No, Bermuda does not levy corporate income tax, capital gains tax, or withholding tax on exempted companies. This tax-neutral system is one of the key benefits of registering in Bermuda. However, certain companies may be subject to economic substance requirements, and government fees still apply.
Can foreigners own 100% of a Bermuda company?

Yes. Foreigners can own 100% of an exempted company in Bermuda. These companies are designed specifically for non-residents conducting business internationally. They are not permitted to trade locally in Bermuda unless special permission is granted.
Is Belize a tax haven for offshore companies?

Yes, Belize is considered a tax-efficient jurisdiction. International Business Companies (IBCs) are exempt from local income tax, capital gains tax, and stamp duty on offshore income, making it ideal to open a company in Belize for international operations
Is Belize a good place for financial privacy?

Absolutely. Belize ranks high on the Financial Secrecy Index and provides strong confidentiality laws. When you register a company in Belize, your personal and financial data is kept private and is not publicly disclosed.
Do I need to visit Belize to open a company?

No, you can register a company in Belize completely remotely. The entire process, including documentation and payment, can be handled online through Consultrio
What type of company is best to open in Belize?

The most common structure is the Belize International Business Company (IBC). It’s perfect for trading, holding assets, e-commerce, or consultancy services. Belize LLCs are also available and suited for asset protection.
Do Belize companies need to file taxes or financial statements?

Belize IBCs do not need to file annual tax returns or audited financial statements if operating exclusively offshore. However, they must maintain internal accounting records for regulatory compliance.
Can a foreigner start a business in Belize?

Yes, Belize allows 100% foreign ownership, meaning any non-resident can start a business in Belize without needing a local partner. This makes it attractive to international entrepreneurs and investors.
Can I open a bank account for my Belize company?

Yes, you can open international or offshore bank accounts for your Belize company. While some banks may require enhanced due diligence, we offer assistance with account opening as part of our company formation packages.
1. How long does it take to register a company in UAE?

Most UAE company register processes take between 3 to 10 working days, depending on the jurisdiction and business activity.
2. Can I register a company in UAE without a local partner?

Yes, in most free zones and many mainland activities, 100% foreign ownership is allowed.
3. Do I need to be in the UAE to register a company?

No, the process can often be completed remotely. Consultrio offers full remote registration support.
4. Can I open a bank account after registering my company?

Yes. Once your company license is issued, Consultrio assists with bank introductions and document preparation.
Why should I register a Cayman company?

Registering a Cayman company offers numerous benefits, including tax neutrality, no corporate income tax, flexible business laws, and global recognition as a reputable offshore jurisdiction. It's ideal for international business owners, investment funds, and asset protection.
How long does it take to register a company in the Cayman Islands?

On average, it takes 3 to 5 business days to complete the Cayman Islands company formation process, assuming all documentation is in order. However, for an additional fee we can register a company in only 1 day.
Can I open a bank account for my Cayman company?

Yes, once your Cayman company is registered, you can open an offshore bank account in a different jurisdiction. We assist with account opening through reputable international banks that accept Cayman entities.
What types of companies can be registered in the Cayman Islands?

The most popular type is the Exempted Company, designed for international business activities. Other types include: Ordinary Non-Resident Company Segregated Portfolio Company (SPC) Limited Liability Company (LLC) We help you choose the most suitable structure based on your goals.
Can I run an online business with a Cayman company?

Absolutely. A Cayman Islands company is perfect for e-commerce, SaaS, consulting, crypto projects, and other global online businesses. There are no restrictions on conducting international transactions.
Is it mandatory to have a physical office in the Cayman Islands to register a company?

No, you do not need a physical office. However, a registered office address in the Cayman Islands is legally required, which we provide as part of our Cayman company setup service.
What are the steps to register a Cayman company?

To register a Cayman company, follow these steps: Choose a company name and structure (e.g., Exempted Company) Submit due diligence documents (passport, proof of address) File incorporation documents with the Cayman Islands Registrar Appoint a registered office and company secretary (if required) Pay the government and service provider fees We handle the entire Cayman company registration process for you.
Can I register a Cayman company remotely?

Absolutely. You do not need travel to register a company in Cayman Islands. The whole process is completed 100% remotely.
Can I open an offshore bank account for my Saint Vincent and the Grenadines company in another country?

Yes, companies incorporated in Saint Vincent and the Grenadines can open offshore bank accounts in other countries.This approach allows businesses to leverage international banking facilities, diversify financial risk, and access a broader range of financial services.
How do I register a company in Saint Vincent and the Grenadines?

1. Choose a company type: Options include Limited Liability Company (LLC) or International Business Company (IBC). 2. Select a company name: Ensure it's unique and complies with local naming conventions. 3. Prepare necessary documents: This includes Articles of Incorporation and an Application for Company Registration. 4. Identify company officers and shareholders: At least one director and one shareholder are required. 5. Submit your application: File with the Commercial and Intellectual Property Office (CIPO) 7. Obtain necessary permits and licenses: Depending on your business activities, additional licenses may be required
Can I open a company in Saint Vincent and Grenadines remotely?

Yes, absolutely, you can register a company in SVG 100% remotely. All the necessary documents during company registration can be signed online.
What documents are required to register a company in Saint Vincent and the Grenadines?

You will need to need submit a notarized or certified copy of your valid passport and proof of address such as utility bill issued within last 3 months.
Can non-residents open a corporate bank account in Saint Vincent and the Grenadines?

Yes, non-residents can open corporate bank accounts in Saint Vincent and the Grenadines. You can register a company while being a resident of any country.
Are there any tax obligations for IBCs in Saint Vincent and the Grenadines?

IBCs in Saint Vincent and the Grenadines benefit from significant tax advantages: Tax Exemption: No corporate income tax, capital gains tax, or withholding tax for 25 years post-incorporation. Stamp Duty Exemption: Exempt from stamp duties on share or property transactions. No Annual Filing Requirements: IBCs are not required to file annual tax returns or financial