info@crs.lk

Phone: +94 117 720 620

125 Darley Road, Colombo 10

Company Registration

Take the first step towards entrepreneurship, Register your own business! We guide every individual aspiring to be a successful businessman and entrepreneur to implement their business ideas by assisting them through the Process of Company Registration

Name

  • The Decided Name of the Company must be Unique, and must not Imitate a Government Institutions Name
  • Registrar of Companies does not Approve Company Names Including “Sri Lanka”
  • Ministry Approval is Required to use Words such as “Finance”, “School”, “College”, “university” in the Company Name
  • The Objectives must be Published in a National Newspaper for Public Scrutiny When Registering an Association

Address

  • You Require a Local Address that is not a Post Office Box to Register a Company in Sri Lanka

Documents

  • Objectives of the Company must be Declared to the RoC along with a Copy of the Articles
  • ID Cards (NIC) of Local Individuals who are Designated as Shareholders and Directors
  • And Valid Passport for Foreigners are Required to Register a Company in Sri Lanka

Director

  • A Single Individual above 18 years of Age can be a Director of a Company Registered in Sri Lanka
  • Hence a Company or Partnership cannot be a Director of a Company
  • Maximum number of Directors of a Company is 20, while Minimum is 1
  • Directors are Responsible for Everything in the Company

Secretary

  • Every Company Needs one Registered Secretary at All Times.

Shareholder

  • An Individual Above 18 Years of Age can be a Shareholder
  • Furthermore, Companies or Partnerships can also be Shareholders of a Company Registered in Sri Lanka
  • Maximum number of Shareholders of a Company is 50, while Minimum is 1
  • Minimum Capital Required is Rs.1 to Register a Company in Sri Lanka
  • Shareholders are the Owners of the Company and therefore cannot be Changed by Force

Brand Registration

Brands are the face of your corporate identity. In the current competitive business environment, it is of utmost importance to protect this identity. We assist you from the Initial stages of Design and development, to the final brand registration

Brand Development

Give your target audience something to remember you before they remember your competitors. We assist you in creating a corporate identity that fully aligns with your Business objectives. We Build Strategies that fits in the long run and above all make sure you Implement, track and adjust your strategies in the marketplace.

Brand Design

A Well-designed brand speaks to the target audience about who you are in the market place and what you do. We assist you in designing this virtual spokesperson, starting from minor details such as the typography, color palette, shapes to finally major maters such as the Logo, Tagline and Brand Design

Trademar / Logo / Brand Registration

Protect and reserve the right to enjoy the benefits of your succesful brand by Registering it. We provide legal assistance as well as consultation in this arena. As a result, your brand will not only have a corporate identity, but a legal one as well.

Tax Registration

Sri Lankan Business Sector has seen steady growth in over the last few decades. Consequently there has been a significant demand from Businesses to assist in proper tax regulations within their organizations. We extend to you our advance Taxation expertise and consultation to assist in Taxation filings, regulations and processes, starting from Incorporation of your organization

TIN (Tax Identification Number)

  • All businesses must register with the inland Revenue Department (IRD) in order to pay the various taxes that arise from doing business
  • First and foremost every business must take a Tax Identification Number (TIN) at the time of setting up the company

VAT (Value Added Tax)

  • Value Added Tax is charged on the Sri Lankan Individuals as well as companies doing business in Sri Lanka.
  • Its charged on the local purchase of goods and services
  • In addition this includes imported goods used for local consumption as well
  • However, Its paid by the seller on behalf of the consumer, and not by the customer directly. Therefore it is called an indirect tax
  • Finally VAT payable to the IRD is 15% of the taxable sales value after deducting the VAT paid for expenses
  • Businesses with sales over Rs. 3 million per quarter must register for VAT
  • However, certain suppliers of goods and services are exempted from VAT

NBT (Nation Building Tax)

  • Every person as well as partnerships (individual, Company, body of persons) doing businesses must pay Nation Building Tax
  • Businesses such as Import, Manufacturing, Retail or Wholesale and furthermore any service provision in Sri Lanka are liable to pay this
  • NBT is charged as a social contribution to the country, for instance towards the welfare of security forces, rebuild communities and infrastructure facilities
  • A business with a quarterly sales of over Rs. 3,000,000 is liable yo pay NBT

PAYE (PAY AS YOU EARN)

  • PAYE is the Income tax liability all employees who earns a gross salary of more than Rs. 100,000 a given month
  • Similarly, company directors who earns a gross salary of more that Rs 100,000 are also liable for PAYE tasx
  • In addition to EPF / ETF the company calculates and file PAYE tax returns monthly based on a special schedule for the total salary

Customs Registration

Initiatives of Local businessmen catering to the international market, and also creating value in the local market with international goods are heavily encouraged by the Sri Lankan Government. We assist you throughout the procedures in the Import & Export business field, by providing 10 year expertise and knowledge on Customs Registrations, Export and Imports of Goods, In Addition to Tariffs and FTAs.

Registration

All importers and exporters must submit the following documents along with the customs application in order to register with customs

  • First of all, Obtain the Certificate of Incorporation and Form 01 or Form 48 & 40 from Registrar ofAll importers and exporters must submit the following documents along with the customs application in order to register with customs Companies
  • Furthermore, prepare photos and copies of the NICs/Passports of all directors of the company
  • Register and obtain TIN & VAT certificate
  • Prepare Billing Proof relevant to the address in the TIN Certificate (Water Bill/Electricity Bill/Sri Lanka Telecom Bill)
  • Finally all businesses must submit Deed or Lease agreement of the business address in the TIN certificate