There are mainly three types of business registrations namely sole proprietorship, partnership, and private limited company. Procedures for registration process of each type of business as follows, 1. Sole proprietorship Sole proprietorship is a business organization which one person owns and manages business operations. They are easy to start and windup, unlimited liability regarding taking…
The export process consist of few steps as follows, Step 01- Register as an exporter in Inland Revenue Department. The person who is willing to export any articles of commercial value from Sri Lanka should register as an exporter in Inland Revenue Department and Sri Lanka Customs. Step 02- Get licenses and permits from relevant…
Sri Lanka Customs Sri Lanka Customs is one of the oldest government departments in Sri Lanka which is responsible for collection of revenues and enforcement laws. The Customs are created to control and command the trade with other countries. Customs guide to maintain stable economy from the influence of foreign movements to keep safe of…
The documents required to the readily available export process can be categorized into 4 main tasks. Documents related to Transport, documents related to customs, documents related to insurance, and required documents. For a clear simple picture on this, you may refer following diagram. Transport Documents These documents consists of that the exporting or importing goods…
At present globalized world, the strong Export sector is a key policy objective of successive governments of Sri Lanka, and they have adopted many strategies to achieve that objective because it is a vital role in promoting economic growth in each and every economy. However, Export sector performance in Sri Lanka has not been reached…
As a developing country, Sri Lanka must have a more concentrated strategies and effort to promote and develop its Exports sector in order to achieve economic growth in the country. Thus, primarily we have to identify about what are the products which already contributing and which can be contributed to reach the high economic growth….
Is Sri Lanka poor country? Although a small island, Sri Lanka is the richest country than other developed countries because Sri Lanka is endowed with a valuable naturally inherited (fish, water, minerals, arable lands, limestone, and gems.) and human resources. But still we state that Sri Lanka is the developing country. If we analyze about…
Benefits for the Exporter Access to additional clients and companies. If you exclusively conduct business here, you might be limiting the overall amount of money you could make from opportunities to grow your company internationally. Expanding market options so that exporters may continue to have other expanding markets for their products and services even if…
Sanctions on trade and the economy Select a market that is not impacted by economic sanctions and export a different range of goods and services exempt from trade restrictions if it seems that sanctions may be eased, postpone entering the market. limits on export Choose an alternate market with whom to conduct business and develop…
A number of options are available to finance the fund requirements which have focused on the exporters who face difficulties in financing the required fund. 1. SDB Samupa Saviya A financial assistance to aid in any import/export of items by the cooperation/society, these bullet loans can be obtained based on the capacity of each society…