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. This article posted on our partner site Mondaq.com 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.
This “blog bite” is courtesy of Clausehound’s collaboration with Mondaq!