Business Registration

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Have you launched a business? Or are you planning to launch a business? Whatever the scenario.

We can facilitate and support your startup, new business, to register through our unique REGISTRAR service.

Registration of a business isn’t mandatory for most businesses. Nevertheless, we strongly recommend you register your business, since a registered business adds more weight in terms of branding/reputation plus registered businesses aids dealings with financial institutions, supplemented by customer loyalty, stakeholder relationship, and protection from legal concerns you might have to come across with expansion, competition, and continuity.

Via our REGISTRAR Service, we register sole proprietorships, partnerships, non-profit organizations & limited liability companies.

We facilitate your business registrations with, minimum involvement of your time, energy and cost.

We at DIOL has introduced a special package to facilitate company registrations under the “Companies Act No: 07 of 2007, in order to motivate our clients to register their businesses as “Limited Liability Companies” enabling better competitiveness.

Key Benefits of Establishing a Company

  • Registering a company in Sri Lanka has got even more effortless, with the online registration facilities. It’s just a matter of a few days before you receive your business registration after you feed the required data to the online portal.
  • “Limited companies” enjoy a unique legal identity compared to traditional business entities.
  • “Continuity of existence”- in other words, the status of the owner doesn’t affect the business, registered businesses can continue far beyond the owner’s lifespan with the sale or gift of shares.
  • A registered company improves the chances of raising, borrowing, and financing a business with minimum personal risk.
  • Suppliers and customers prefer dealing with registered businesses over the non-registered or individuals.
  • Limited companies enjoy certain tax benefits and government subsidies depending on the industry they are operating in.
  • Operating a private limited company protects you from personal liability up to a certain extent.

Our “Company Registration” package includes,

  • Incorporation of a Company (Registration of Companies)
  • Registration of Articles of Associations and Filing Form 01
  • Filing Form 18 & 19
  • Obtaining Certificate of Incorporation
  • Obtaining a Certified Copy of Form 01
  • Articles of Associations (Originals)
  • Publishing on Three Public Daily Newspapers (Sinhala, Tamil, English)
  • Gazette Notice
  • Company Embossed Seal
  • Director’s Seal
  • Secretary’s Seal
  • Board Minutes
  • Bank Accounts Opening
  • Share Certificates

A Guide to Company Registration in Sri Lanka

We at Diol shall walk you through the whole mechanism of registering a limited liability company in Sri Lanka, with complete organization and guidance of the process and time spans.

Below are the methodology and the timeline of the registration process

NAME APPROVAL (2 TO 3 WORKING DAYS)

First and foremost, we suggest that the name you choose is well-thought-out, especially if you choose the name to be the brand of your company. A brand carries and differentiates the personality and the promise of your company. More importantly, consider the cost of latter modifications and changes you might have to come across.

Further, be watchful about the names similar to existing companies, similar names are non-registerable. And certain selected names cited in the companies act can only be registered with the prior approval of the ministry.

Once we sought out the name, we shall undergo a name search at the “Registrar of Companies” to ensure approval of your selected name. Once approved, we progress with the registration process.

Upon completion of the registration processes, the name should be approved and available for business within 2-3 working days. The approval will be valid for 3 months since the day of application.

SUBMITTING OF COMPANY REGISTRATION FORMS (3 TO 5 WORKING DAYS)

Once we obtain the approved name of your company, we shall go ahead with the preparation of the Articles of Association in par with your requirements. All forms should be printed or typewritten. (Section 475). Handwritten forms will not be accepted.

All companies should have a director and secretary (Ref: Article 221(1) of the Companies Act No. 7 of 2007).

Compliance of a company secretary is required well in advance for a newly formed company. So we propose that you engage a company secretary prior to the incorporation.

This includes:

  1. Form 1 – Company registration should be signed by all the initial directors, shareholders and the Secretary
  2. Form 18 – Consent and Certificate of Director
  3. Form 19 – Consent and Certificate of Secretary
  4. Articles of Association – A company may either adopt the standard set of Articles of Association in Table -A- of the Companies Act of Sri Lanka or draft its own Articles of Association. You must submit 2 copies

Afloat the preparation of the documents we shall send them to you, for your verification and signature. And then the documents will be submitted for the company formation process.

Upon submission, the “Certificate of Incorporation” will be issued to you within 3 to 5 working days.

EMBOSSED SEAL (2 WORKING DAYS)

This usually takes 2 working days.

PUBLIC NOTICE

  • PAPER ADVERTISEMENTS (3 LANGUAGES)
  • GAZETTE NOTIFICATION (ENGLISH ONLY)

As per Section 9 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

All incorporated companies are required to publish a public notice within 30 working days of incorporation in all three languages (Sinhala, Tamil, English) stating the name of the company, registration number, address, and the location of the business, if different from the registered address.

A proof of the publication shall then be filed with the “Registrar of Companies” within two weeks, the publication will appear in the Gazette, The government issued receipt and the printed material will be submitted as proof for the “Registrar of Companies”.

ISSUE OF SHARES (FORM 6)

Subject to the provisions of the Company Act, the board of a company may issue shares to the persons.

SHARE CERTIFICATE

A share certificate is an official document issued by a company certifying legal ownership of shares of a company, some of the information in the certificate is the owner’s details, including his/her address, and the number of shares owned by them and the time frame. As per the “Companies Act,” companies are required to issue share certificates after the incorporation of the company and article.

OBTAIN TAX IDENTIFICATION NUMBER (TIN)

In order to obtain the Taxpayer Identification Number (TIN) the applicant him/her self or a representative is expected to be present at the “Taxpayer Services Unit of the Inland Revenue Department” with the supporting documents inclusive of a copy of Form 1, Certificate of Incorporation and Articles of Association.

The TIN registration application can be submitted via the RAMIS system (Online web portal) as well, however, this approach isn’t popular yet.

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Why Choose Diol Consultancy To Register Your Company in Sri Lanka?

  • Registration in less than 10 working days
  • Less paperwork, more electronic
  • An approved registered company secretary
  • Customer support online and direct line 24/7
  • Hassle free and cost-effective registration process
  • Active and fault-free annual service
  • Smooth and lag-free all in one company registration package
  • Free guidance and support for trademark design and registration