Central Bank releases guide for doing business in Sri Lanka

Apr 22, Colombo: Sri Lanka’s Central Bank has released a publication to guide the new investors on how to start up a business venture in the country.

The revised edition of a publication titled “A Step by Step Guide to Doing Business in Sri Lanka” and released by the Central Bank provides the investors with information regarding all major activities need to be undertaken by an entrepreneur during different stages of the business, from opening and establishing a business to closure of its operations.

The Central Bank expects the information contained in the publication to assist entrepreneurs to enhance the efficiency and timeliness of their decision making processes by minimizing the search cost of extracting required information from different sources.

According to a Central Bank release, the publication summarizes necessary information under 28 topics on key activities, such as Registering a Business, Obtaining a BOI approval, Registering a Property, Obtaining a preliminary Planning clearance, Obtaining Electricity Connection, Paying EPF and ETF, Issuing shares to the Public, Making Exports and Imports etc.

The guide also includes information on topics of general interest such as Opening a Bank account, Paying Taxes, Obtaining a Passport, Obtaining Visas to enter and stay in Sri Lanka.

Under each topic, information on documentary requirements and regulatory clearances, agencies of relevance, cost, and contact details of their senior staff as well as the web-sites of the agencies are provided for the ease of the investors to obtain further clarification if required, the Bank said.

A copy of the publication can be purchased for Rs.500 from the Sales and Distribution Counter of the Central Bank at its Centre for Banking Studies, 58, Sri Jayewardenepura Mawatha, Rajagiriya.

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