- MOU signed between two key state departments to facilitate single window
- To shorten time taken to register a business from six days to one
- To assist in improving Sri Lanka’s ranking in World Bank’s Doing Business Index
A Memorandum of Understanding (MOU) has been signed between the Department of the Registrar of Companies and the Department of Labour to share information between the two departments for the establishment of a web-based single window for business registration.
Registrar General of Companies D.N.R. Siriwardena and Commissioner General of Labour R.P.A. Wimalaweera signed the MoU. The single window for business registration is expected go live from this April.
Information and Communication Technology Agency of Sri Lanka (ICTA) will facilitate the establishment of an integrated system connecting the Department of the Registrar of Companies, Department of Labour and the Department of Inland Revenue.
This single window provides applicants to obtain business registration numbers, EPF numbers and the TIN numbers by filling a single application online. It will reduce the time taken to register a business currently from six days to one day.
The single window for business registration is a reform implemented under the ‘Starting a Business Task Force,’ which is appointed to implement investment climate reforms of Sri Lanka to improve business registration of companies.
The main objective of the Investment Climate Reforms programme is to improve the ease of doing business and thereby improve Sri Lanka’s ranking in World Bank’s Doing Business Index.