What are the steps to register your own company?

Step 1: Choose Company Type 

Step 2: Reserve Company Name 

Step 3: Prepare Required Documents 

• Form 1 (Registration application)

• Articles of Association

• Form 18 (Director consent)

• Form 19 (Secretary consent, if applicable)

• Copies of NIC/Passport of directors & shareholders

• Registered office address details

Step 4: Submit via eROC Portal (e-Registrar of Companies)

Step 5: Certificate of Incorporation 

Step 6: Post-Incorporation Registrations 

• Tax file (TIN) registration – IRD

• VAT registration (if applicable)

• EPF/ETF registrations (if employees)

• Business registration with local council

Step 7: Open Business Bank Account

Required documents:

• Certificate of Incorporation

• Company Form 20/1 extracts

• Board resolution

What are the essential annual requirements for a Company incorporated in Sri Lanka?

• Keeping Your Financial Records in Order

• Managing Your Corporate Income Tax (CIT)

• Filing Your Annual Return (Form 15)

what you need to know about keeping your financial records in order?

• Maintain Proper Records: Track all income, expenses, assets, and liabilities. Keep these records for at least five years, as failing to do so could lead to penalties.

• Where to Store Records: Accounting records must be kept in Sri Lanka unless you get special permission from the Registrar to store them abroad. You’ll also need to share updates about your company’s financial position if records are stored outside the country.

• Prepare Financial Statements on Time: Your board of directors must prepare and sign financial statements within six months of the financial year-end (usually March 31). These documents are essential for audits and compliance.

💡 Pro Tip: Avoid errors by using reliable accounting software or hiring professional accountants like us.

How to handle your Corporate Income Tax (CIT)?

Paying taxes on time is a critical part of running a compliant business. Here’s how to handle it:

• Get Your TIN: Make sure your company is registered for Corporate Income Tax (CIT) and has a Tax Identification Number (TIN) from the Inland Revenue Department.

Meet Key Deadlines:

• By August 15: Submit the Statement of Estimated Tax outlining your company’s estimated profits and pay quarterly taxes on time to avoid penalties.

• By November 30: File your Final Corporate Return of Income, including audited financial statements.

What to Include in Your Final Tax Return?

• Income sources

• Taxable profit and liability

• Exemptions and losses carried forward

• Tax credits and payment details

💡 Example: For the financial year 2025/26, your final tax return must be submitted by November 30, 2026.

Importance and steps to file your Annual Return (Form 15)?

• • • The annual return keeps your company’s information up-to-date with the Registrar of Companies.

    • Who files it? Directors and the company secretary are responsible.

    • When to file? Within 30 working days after your Annual General Meeting (AGM).

    • What Does It Cost? Government charge is Rs. 8,283 with all the applicable taxes.

    • How to file? Log in to the eROC portal and complete the filing process online.

    • What to Include: Updates to company information (e.g., director changes, address updates).

    • Share transfer forms, if applicable.

💡 Pro Tip: Accurate filings save you from penalties and keep your company in good standing.