Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka business registrations can now be done from home
Fri, Oct 11, 2019, 07:51 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 11, Colombo: Opening a new chapter in Sri Lanka's private sector development, incorporation of a new company in Sri Lanka is now possible from the comfort of one's own home, Minister of Industry and Commerce. Rishad Bathiudeen says.

According to Minister Bathiudeen, name reservation of companies could be obtained online and company registrations and incorporations could also be done online.

"There is no need for physical attendance at the Department of Registrar of Companies," said the Minister.

The Minister disclosed this in parliament on Tuesday (October 08) while enlightening the House on regulations made by him with the concurrence of the President to establish Regulations under the Public Contract Act.

Accordingly, fees payable, except VAT on four types of contracts have been amended. The new fee will be Rs. 2,000 for application for registration as an agent, sub-agent, representative or nominee for or on behalf of a tenderer, Rs. 10,000 for application for registration of a public contract, Rs. 2,000 for application for renewal of a registration and the new fee is Rs. 10,000 for application for re-registration of a public contract.

Minister Bathiudeen added that the necessary procedures can be easily done at home if one has a computer with internet facilities. "Societies' registrations can be done online since January 2019. Registration of auditors too can be done online. Card payments are accepted. Overseas companies and off shore companies can be registered online."

He said the Department of Registrar of Companies plays a key role of an economy of the country. Except for the salaries of officials other expenses related the Department are met through the company fund. In 2017 the Department of Registrar of Companies earned a revenue of about Rs. 600 million and the 2018 revenues of the Department increased by 11% (from 2017) to Rs 664 million.

In the World Bank's 2019 Doing Business index, Sri Lanka has been ranked 100 among 190 countries. The "Starting a Business Indicator" of Ease of Doing Business rankings for Sri Lanka (at 87.87 out of 100) showed the country ranked at second in South Asia just after Maldives (at 89.17). South Asian regional average for Starting a Business Indicator is 85.44.


ColomboPage - Recent 10 Stories ::
Chennai-Jaffna air services to commence from November 01
-- [1 minutes ago]
Takeover of Rupavahini under Defense Ministry legal, AG tells court
-- [33 minutes ago]
Two PS members and nine others arrested over election violence
-- [47 minutes ago]
Amnesty calls on Sri Lanka Presidential candidates to prioritize key human rights issues
-- [1 hour and 12 minutes ago]
Sri Lanka Central Bank FIU enters into an agreement with INTERPOL National Central Bureau
-- [1 hour and 55 minutes ago]
A Real-time and Online Payment Facility for BOI customers
-- [2 hours ago]
BOI signs US$ 10 mn investment to manufacture concrete electric poles in Sri Lanka
-- [2 hours ago]
Japan provides over $ 1.26 million to support humanitarian demining in Northern Sri Lanka
-- [2 hours ago]
CWC pledges support to Gotabhaya Rajapaksa
Three suspects arrested with nearly 30 kg of heroin in Divulapitiya

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.