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Sri Lanka to further simplify company registration

ECONOMYNEXT – Sri Lanka will further simply company registration procedures with refors that will enable applicants to get more done through the registrar of companies, an official connected with the process said.

The government will do away with the need for a public notice in registering a new company, said Champika Gunaratne, project manager of the Information and Communication Technology Agency.

“We are changing section 91 of the companies act to remove the procedure of a business start up being required to have a public notice, which takes three days now,” he told a forum on reforms to improve Sri Lanka’s ranking in the World Bank’s Ease of Doing Business Index.

“They will also have no need to go to the Inland Revenue and Labour departments. All three can be done through the ROC (Registrar of Companies) which will notify Inland Revenue and the Labour Department and get registration in two hours.”

The new reforms will happen within one month.
COLOMBO, February 28, 2019-SB)

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