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Board of Investment of Sri Lanka is empowered to approve projects under following categories.

Projects approved under Section 16 of BOI Law

Where projects are approved under section 16 of BOI Law, the entry of foreign investment is permitted without any fiscal concessions. These projects are governed under normal laws of the country and are subjected to Custom Laws and Exchange Control Regulations.The approvals granted are only to;

  • Facilitate the entry of foreign investment
  • Set up a new company with foreign shareholding or
  • Transfer or issue new shares in an existing non BOI company to the foreign investors

At present, the minimum investment requirement to qualify as a section 16 project is US$ 250,000. This can either be 100% foreign investment or a joint venture investment with a local collaboration. In the event an investor undertakes a trading activity, a minimum of US$ 5 Mn has to be remitted.

The proposed foreign investment should be effected from funds remitted through an Inward Investment Account (IIA).

Projects approved under Section 17 of BOI Law

Under Sec.17 of the BOI Law, BOI is empowered to approve projects and enter into agreements with enterprises granting exemptions from laws such as Customs, subject to fulfilment of the investment threshold or any other specified requirement.

Sec 17 projects that meet the minimum investment threshold of US$ 3 Mn upwards, can enjoy special incentives in the form of enhanced capital allowances under the Inland Revenue Act No 24 of 2017.

Company Registration

Step 1

In accordance with Section 6 and 7 of the Companies Act No. 7 of 2007 the first step is to check the availability of the proposed name of the Company.

Step 2

Application for registration of the proposed Company by submitting Articles of Association together with the forms described below.

  • Form 1 –Gives details of type and name of the company, registered address of the company, Details of initial Directors, Secretary/ies and Shareholders.
  • Form 18 –Consent of Directors
  • Form 19 –Consent of Secretary/ies

If the company is coming under the BOI regime, the draft Articles of Association should be submitted for approval of Executive Director (Legal), BOI prior to incorporation of the company.

Department of the Registrar of Companies
400 D R Wijewardena Mawatha
Colombo 10
Sri Lanka
Tel: 0094-11-2689208 , 0094-11-2689209Fax: 0094-11-2689211

e-mail:info@drc.gov.lk

website: www.drc.gov.lk

BOI Charges

Application/Agreement Processing Charges

 #  Application/Agreement Processing Charges  US$
 Section 17
 1  Investment application processing  250
 2  Agreement Processing Fees – Strategic Development Project – For Other Projects  3,500   2,000
 3  Supplementary Agreements  500
 Section 16
 4  Investment application processing fees (Sec. 16)  300
 5  Processing Fee for perusal of Articles of Association of   Company  150
 Non BOI Enterprises
 6  Lease Agreement Processing Fee for non BOI companies  Rs. 10,000

 

All charges are liable to VAT 15%. (All charges can be paid on the rupee equivalent as per the prevailing exchange rate)

Annual Fees

 #  Annual Fees  US$(Per Annum)
 Section 17
 1  Annual Fees.       Normal Projects

  1. Hotel, Hospital, Utilities, Tourism sector Project and any other Infrastructure Project
    – During Project Implementation Period

    • Project less than USD 3 Million
    • Project between not less than USD 3 Million and not more than USD 10 Million
    • Project more than USD 10 Million
    • Strategic Development Project

– Thereafter during Tax holidays and Concessionary Tax Period

    • Project less than USD 3 Million
    • Project between not less than USD 3 Million and not more than USD 10 Million
    • Project more than USD 10 Million
    • Strategic Development Project

– After Tax holidays and Concessionary Tax Period /After Project Implementation Period

  1. Agriculture Projects
  2. Coir based Industries and Handicraft Projects
 2,5003,500

6,600
8,800
16,500

 

2,300

5,500
7,700
11,000

 

1,000

 

850
1,100

Section 16
 2 Annual License Fee  350

 

Environment Protection Licencing Charges

Licence Fee (excluding VAT)Activities in List AActivities in List B

Activities in List C

 

Equivalent of SLR 7,500Equivalent of SLR 6,000

Equivalent of SLR 4,000

Inspection Fee (excluding VAT)Activities in List AActivities in List B

Activities in List C

 

Equivalent of SLR 4,900Equivalent of SLR 4,125

Equivalent of SLR 3,100

All charges are liable to VAT 15%. (All charges can be paid on the rupee equivalent as per the prevailing exchange rate)

Factor Costs

Electricity Rates

Water Supply Rates

Fixed Line Rates

Mobile Rates

Broadband Rates