Company Registration – Sri Lanka

Sri Lanka is emerging as a business-friendly destination, attracting both local entrepreneurs and foreign investors. Whether you’re looking to register a company, open a bank account, or repatriate profits, this guide covers everything you need to know. 1. Minimum Capital Requirement to Register a Company in Sri Lanka One of the biggest advantages of starting…

Understanding the Common Seal A common seal, also known as a company seal or corporate seal, is a stamped imprint that includes a company’s legal name and registration number. This seal is used on agreements and documents to signify that they have been executed by authorized agents or officers on behalf of the company. Essentially,…

In our ongoing commitment to keeping our readers informed about the latest developments, we bring you an update on company registration in Sri Lanka for the year 2023. The Registrar General of Companies has introduced new rules and guidelines that streamline the registration process, making it more efficient and user-friendly. Here are the key changes…

In the dynamic landscape of today’s business world, the need for instant access to vital company documents is more crucial than ever. Recognizing this demand, Ananda Sirisena & Co (ASAC) is excited to announce the launch of The Boardroom Mobile App, a powerful tool designed to simplify and streamline your business management experience. in Simple…

When starting a company, there are various legal aspects to consider, and one of them is the “Articles of Association.” You might wonder what this document is all about and why it’s important. In this article, we’ll break it down in easy-to-understand language. What Are Articles of Association? Think of the Articles of Association as…

As your business grows, some shareholders may want to transfer their existing shares to other people. They can transfer these shares either by a sale or agreement. If they’re selling their existing shares, they can sell to individuals or corporate entities such as another limited liability company. Existing shareholders can also transfer shares to each…

Form 20: A Vital Document for Companies in Sri Lanka In Sri Lanka, there’s a necessary document called Form 20. This document must be sent to the Registrar of Companies within 20 days when a company appoints, removes, or makes changes to the details of a director or secretary. Directors are people elected by the…

What to do when your company is stuck in a deadlock When you run a company with other people, you need to make decisions together about the business. Sometimes, you might disagree with each other and not be able to reach a consensus. This is called a deadlock and it can happen at any level…

By Ashfa Anwer For most organizations, the ideal choice of a business structure is most likely a partnership business or a limited company. The right choice lies in each individual circumstance and it could depend on a number of different factors like legal requirements and tax considerations. Understanding the pros and cons of a business…

By Ashfa Anwer When you decide on starting a business, its legal structure plays an important role as it will affect the level of tax you pay, the extent of your personal liability, and how easy it will be to pass on or sell the business when you retire. The structure of a company makes…