About Business Registration Law in Sri Lanka:
Business registration in Sri Lanka is governed by the Companies Act No. 7 of 2007 and the Business Names Registration Act No. 33 of 2011. These laws require businesses to register with the Department of Registrar of Companies to operate legally in the country. The registration process involves submitting the necessary documents and paying the prescribed fees.
Why You May Need a Lawyer:
You may need a lawyer for business registration in Sri Lanka if you are unsure about the legal requirements, need assistance with completing the registration forms, or want to ensure compliance with local laws. A lawyer can also help you navigate any legal issues that may arise during the registration process.
Local Laws Overview:
Key aspects of local laws relevant to business registration in Sri Lanka include the types of business structures allowed, registration requirements, and compliance with taxation laws. Businesses must also adhere to regulations set by the Department of Registrar of Companies to maintain their legal status.
Frequently Asked Questions:
What types of business structures can I register in Sri Lanka?
In Sri Lanka, you can register a sole proprietorship, partnership, limited liability company, or public company.
What documents do I need to submit for business registration?
You will need to submit a completed application form, memorandum and articles of association, and proof of payment of registration fees.
How long does it take to register a business in Sri Lanka?
The registration process typically takes a few weeks, depending on the completeness of your application and any additional information requested by the Registrar of Companies.
Do I need a business name approval before registering my business?
Yes, you need to obtain approval for your business name before registering your business with the Department of Registrar of Companies.
What are the fees associated with business registration in Sri Lanka?
The fees for business registration vary depending on the type of business structure you choose. You can check the Department of Registrar of Companies website for the current fee schedule.
Can I register my business online in Sri Lanka?
Yes, you can register your business online through the Department of Registrar of Companies website.
Do I need a lawyer to register my business in Sri Lanka?
While it is not mandatory to hire a lawyer for business registration, it is recommended to seek legal advice to ensure compliance with local laws and regulations.
What are the consequences of not registering my business in Sri Lanka?
Operating an unregistered business in Sri Lanka can lead to legal repercussions, including fines, closure of the business, and potential legal action against the business owner.
Can I change the business structure of my registered business in Sri Lanka?
Yes, you can change the business structure of your registered business by following the necessary procedures and obtaining approval from the Department of Registrar of Companies.
How can I dissolve my registered business in Sri Lanka?
You can dissolve your registered business in Sri Lanka by submitting a formal request for dissolution to the Department of Registrar of Companies and complying with all legal requirements for closure.
Additional Resources:
For more information on business registration in Sri Lanka, you can visit the Department of Registrar of Companies website or consult with a local legal advisor specializing in business law.
Next Steps:
If you require legal assistance with business registration in Sri Lanka, it is advisable to contact a qualified lawyer with experience in corporate law. They can guide you through the registration process, ensure compliance with local laws, and resolve any legal issues that may arise.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
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