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,
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 overall responsibility of the business risk, no sharing of profit and loss and fewer legal formalities. The registration process of the sole proprietorship as follows,
A partnership is a business organization which consists of two more people working toward one goal by sharing the ownership. These organizations have unlimited liability, Sharing profit among partners, legally and financially inseparable from owners and mutual agency. The registration process of the partnership as follows,
Private limited company is a business organization that owned and operate by small group of people. These organizations have limited liability, perpetual succession, separate legal entity, and capacity to sue and get sued. The registration process of the private limited company as follows,
The name which selected for the company should be unique. (Hint – Searching for a unique name can be done through the website of the department of the registrar of companies.)
Articles of association should specify the purpose of the company and the regulations for the company’s operations.
The public notice of incorporation must be given within 30 working days of the incorporation of the company. The name of the company, registration number, date of incorporation and address of the registered office should consist in the notice of incorporation. It should also, publishes in a daily newspaper in Sinhala, Tamil, and English languages.
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…
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…
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…
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…
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…