12 October 2019 12:00 am
The incorporation of a new company in Sri Lanka is now possible from the comfort of one’s own home.
“Name reservation of companies could be obtained online. Company registrations and incorporations could be done online and there is no need for physical attendance at the Department of Registrar of Companies,” said the Minister of Industry and Commerce Rishad Bathiudeen in Parliament on October 8.
The Minister was addressing the House on regulations made by him to establish regulations under the Public Contract Act moved by him in Parliament.
“It can be easily done at home if one has a computer with internet facilities. Societies registrations can be done online since January 2019. Registration of auditors too can be done online. Card payments are accepted. Overseas companies and off shore companies can be registered online.
“The Department of Registrar of Companies plays a key role of an economy of the country. Except for the salaries of officials other expenses related the department are met through the company fund. In 2017 the Department of Registrar of Companies earned revenue of about Rs 600 million and 2018 it is Rs 664 million,” Bathiudeen added.