Looking for a Company Secretary in Sri Lanka? Here’s What You Need to Know!
Are you in the process of setting up a business in Sri Lanka and wondering about the role of a company secretary? Or perhaps you’re already established but considering outsourcing your company’s secretarial services? In either case, understanding the ins and outs of hiring a company secretary in Sri Lanka is crucial. Let’s delve into the key aspects you should consider before making your decision.
- Company Secretary Requirement in Sri Lanka: Under the provisions of the Companies Act No. 07 of 2007, every Limited Liability Company incorporated in Sri Lanka must have a company secretary. However, if your company’s turnover is less than Rs. 1 million per annum and the paid-up capital is below Rs. 500,000/-, you have flexibility regarding the qualifications of your company secretary.
- Qualifications of a Company Secretary: When selecting a company secretary, it’s essential to ensure they possess the necessary qualifications. These may include:
- Legal background as a lawyer
- Chartered Accountant certification
- Membership in professional bodies such as the Association of Chartered Secretaries and Administrators, Institute of Cost and Management Accountants (CIMA), or Institute of Certified Management Accountants (CMA)
- A minimum of 20 years of experience in the field of Company Secretaries
- Outsourcing vs. In-house Secretary: Many startups and small businesses opt to outsource their company secretarial services due to cost considerations. Outsourcing allows you to access the expertise of qualified professionals without the expense of hiring a full-time, in-house secretary. This approach can be particularly advantageous for businesses operating on tight budgets.
- Can Foreigners Register a Company in Sri Lanka? One common concern for foreign entrepreneurs is whether they can register a company in Sri Lanka. The answer is yes. Foreigners are permitted to register companies in Sri Lanka, subject to certain regulations and requirements. Seeking guidance from a reputable company secretarial firm can help navigate the process smoothly.
- Why Choose ASAC as Your Company Secretary: ASAC, established in 1991, is a trusted name in the field of company secretarial services in Sri Lanka. With a team of qualified professionals and a track record of excellence, ASAC offers comprehensive services including company registration, trademark registration, and corporate law consultations.
Moreover, ASAC leverages the latest technology to enhance client experience, including the recent launch of a mobile app for convenient access to company secretarial services. Whether you’re a new entrepreneur or an established business owner, ASAC provides the expertise and support you need to navigate the regulatory landscape effectively.
In conclusion, when hiring a company secretary in Sri Lanka, it’s essential to consider factors such as qualifications, outsourcing options, and the reputation of the service provider. With ASAC, you can rest assured that your company secretarial needs are in capable hands. Reach out to ASAC today for further details on their services and how they can assist you in achieving your business goals.