DMJ Associates

Company Registration in Sri Lanka

How to register
A Company in Sri Lanka?

We provide assistance in company formation & company secretarial services.

When it comes to Sri Lanka there are several ways in which a business can be registered. A sole proprietorship, a partnership or a Limited Liability Company are the different legal entity types that could register as a business. Out of these legal entities registering a business as a Private Limited company will provide more benefits with separate legal existence from its owners. It is a reputational identity for a business as well. We, at DMJ provide assistance and free guidance to register your business as a private limited company.

How to register a Company in Sri Lanka?
Why worrying,
please see the detail guidance below.

ROC- Reservation of a Unique Company Name

Intended name of the company could be search for its uniqueness via searching online of the website of the Department of the Register of Companies (www.drc.gov.lk). A Valid company name is reserved for 3 months till the registration.

Fees Rs.2000+VAT & convenience fees 2%

Name restrictions

Below listed words are not permitted to include in the name of a company.

  • President
  • Presidential
  • Municipal
  • Incorporated
  • Co-operative
  • Society
  • National
  • State
  • Sri Lanka

Company Registration Forms

Once the name approval is taken, Form no 1, 18, and 19 needs to be submitted in printed or type written format. Hand written forms will not be accepted.

Every company shall have a director and a secretary as per the article 221(1) if the Companies Act No. 7 of 2007.The secretary must be appointed well before the company is incorporated. For this purpose, the consent form that the company secretary must sign stating that he/ she will be the secretory for newly incorporated company.

Fees:
Company Registration Form 1- Rs.4000 +VAT & convenience fee 2%
Consent and certificate of Director Form 18 – Rs.2000 +VAT & convenience fee 2%
Consent and certificate of Secretory Form 19 – Rs.2000 +VAT & convenience fee 2%

 

The Articles of Association – Submission

A newly formed company can either draft its own articles of association or adopt the standard set of articles of association provided in the table A of Companies Act.

Rs.2000 +VAT & convenience fee 2%

TIN TAX Identification Number

Obtaining TIN number from the Department of Inland Revenue shall be done by the applicant or an authorized representative of the applicant at the Tax payer Service unit of the Department. This is an additional service optional at initial stage.

Public Notice of Incorporation

As per the section 09 of Sri Lanka’s Companies Act no 7 of 2007 and section 3(a) of the Gazette Notice no 1566/32 dated 12.09.2008 any company registered must give public notice within 30 working days of incorporation as a legal entity.

This notice should specify name of the company, registration number, date of incorporation, and address of the registered office published in the government gazette and daily newspaper in all three main languages.(English, Sinhala and Tamil) Once this is done, it should be filed with register of companies as proof of publication. With this publication in the gazette can be arranged and will appear with in two weeks of submitting the request with payment. The receipt issued by the government printer is accepted as proof of payment by the register of companies.

Registration fees

  • Name Registration – Rs. 2,000
  • Form 01- Rs 4,000
  • Form 18 (for one Director) Rs. 2,000
  • Form 19 – Rs.2,000
  • Articles of Association – Rs 2,000
  • Certified Articles of association – Rs. 7,100
  • Paper notice and gazette Rs. 8,500
  • Other costs Rs.2500

Our charges are only Rs. 5,000 and total cost of registration of a company is approximately Rs. 25,000. We expect to finish all formalities with 7 working days.