Starting Your Own Dream Company in Sri Lanka

Starting Your Own Dream Company in Sri Lanka
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​Having a dream of starting your own company one day in Sri Lanka? Are you a foreign investor looking for opportunities within the Sri Lankan market? Looking for information on Company Registration process? Looking for some insights and benefits that could drive through registration of your company? What are the risks of not registering your company? Looking to convert your Sole Proprietor business to a company?
Here is an amazing article that you should not miss out if you are looking for information on company formation and Company registration in Sri Lanka. register your company today, and realize and live your dreams.

​What types of companies are registered in Sri Lanka?

​A wide variety and a range of companies are registered within Sri Lanka under the 2007 Companies Act and some of the types include private companies, public companies, offshore companies, subsidiary companies, branch offices, joint venture companies and Liaison offices. The registration process will differ slightly. However the process is simple and not difficult for sure.

​Why is it important to register your company?

​Registering can give you numerous benefits and it ensures that your company is moving on the right path and direction. In other words, the first step of company formation is the company registration. It will make the company a “Legal Entity” that is able to stand alone in face of any legal consequences. On the other hand, it will be helpful in attracting investments, investors, shareholders as well as will help in obtaining bank loans and external finances especially. A registered company is a well-planned and organized company and this perception will be also carried to the consumer’s, employee’s and other stakeholder’s minds. Moreover EPF and ETF related laws, registration is made compulsory within Sri Lanka. Therefore register your company today and enjoy the wide range of benefits attached. All you need is to follow the simple steps as explained below.

​ What are the risks associated with not registering your company?

​Not registering your business can affect your brand image as well can be a risky option. The customers will not see you as a legal business and you will not be able to open bank accounts, current accounts in the name of your company or Brand. Simply not registering your company will not make it a legal entity and thus the owner/s will have to be in the personal names in front of the law. On the other hand, the liability of such owners will be unlimited and attracting investments and obtaining loans will be a bit of a difficult process for such a company. Why not register your company today when the process of registering is as simple as explained below?

​What is the process involved in registering your company?

​The process involves a series of steps that are not complex and difficult. Explaining more on Company Registration, the steps involve registering and reserving your name, obtaining approval for your name, submission of the registration forms to the Company Registrar, submission of Articles of Association, public notice on incorporation and finally getting started with the operations.  The process is simple and all you need is to follow these simple steps to make your dream of company formation reality and Simplebooks will guide you throughout the process.

Naut’s Reference and Credits

Cover Image : ​Designed by Pressfoto /Freepik
Rashain Perera
Rashain is the Chief Finance Officer and a contributor at Nerdynaut.
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