People sometimes want to register in other jurisdictions for reasons such as:
- (1) minimum director requirements;
- (2) favorable corporate taxes;
- (3) employer or corporate incentives for hiring locally, among others.
The article Sri Lanka: Formation of Companies in Sri Lanka - an easy to follow checklist explains the steps to incorporation in Sri Lanka and the required characteristics of an incorporated company. The author differentiates the registration procedure between Guarantee Limited Company and Associations as well.
This article is also helpful for non citizens of Sri Lanka in understanding some of the issues to consider when incorporating, as well as to understand the industries in which there is a restriction placed upon foreign business ownership.
Certain articles within this post were linked and referenced with the permission of Mondaq.com, through our exciting content collaboration with them. To access Mondaq’s large database of articles written by top law firm lawyers from around the world, you must leave our site and create a free account on theirs.