If you’re finally ready to take that leap and start your own business – congratulations!
But first, let’s get your company registered.
The Government has recently introduced “eROC”, a service where you can register your business online, instead of visiting the Department of the Registrar of Companies (DRC) to submit the forms, one by one.
Now, this doesn’t mean that you’ll never have to visit the Government office again, but it does help make the process of registering a Private Limited Company easier.
Registering your business can be a confusing and time consuming task. To help make this easier, we’ve created this step by step guide to help you register your business online.
Before you register your company, you need to find a unique name for your business.
Searching for a unique company name can be done online through the website of the Department of the Registrar of Companies. This section of the website can be accessed without an account.
You can also check for your unique company name here.
If you also need help coming up with a unique company name, you can read our guide as well.
If you’re checking for your company name through the e-ROC website, all you need to do is type in the company name you’ve picked to see if it’s available.
By using this service, there’s a way to ensure your future company name isn’t taken.
If another company already exists with the name you’ve chosen, the website will show it to you.
If there’s no other company registered under the same name, the website will show you this:
If you see this, that means your company name is available. You can now reserve the name.
Make sure to grab a domain name identical to the name your company is going to be registered under. Lankahost is what we use to buy all our .lk domains. We also use Godaddy for our international domains and hosting.
Unlike checking for registered companies, to access the other parts of the process, you need an account.
The account is free to make. Click on ‘Login’ or ‘Login for online services’ to begin.
Click ‘register as a member’.
Chose country of origin
Fill out your details and click on ‘Next’
Enter a valid email address – this can be either your private or company email. Afterwards, create a password and click on ‘Register’.
After that, you’ll need to verify your email address.
Congratulations! You now have an account.
Login to your newly created account, and click on ‘Name Reservation’.
Then, propose a name for your company.
Have you already thought of the perfect name for your company? Select the type of company and enter your desired company name.
If the company name is available and you’d like to reserve it, click on ‘Proceed Now’
If the name isn’t available, it’ll indicate that the company name needs to change. If there is an abbreviation in the company name, the ROC requires an explanation.
Once your company name is approved, you should receive an email with the name approval number.
There are five steps that you have to follow in order to register your company.
All that’s left for you to do is to select the type of company and provide basic company details such as;
As for the main objective of your company, select what suits your company the most from the options that are available in the menu.
2. Enter shareholder details
Under stakeholders, you’ll need to include details of directors, company secretary/secretaries and shareholders.
Enter information about each director’s first and last name, province, district, divisional secretariat division, address, passport, NIC number, phone number and email address.
By clicking the ‘Add New’ button, you can enter details of multiple directors, if your company should have any.
After adding the directors, fill in the information of your designated, registered company secretary from their name to their NIC number. This includes, adding their registration number to confirm they fit the local regulations.
If you don’t have a company secretary, don’t worry about it. We’re a registered company secretary.
We’re here to assist and represent you!
Simplebooks can fill in the details, regarding the company secretary. You can read more on why we believe every business is complete with a company secretary here.
After that, you’ll need to enter your shareholder’s/shareholders’ details.
The system generates Form 1, Form 18 and Form 19. Click the download button to receive pdf versions of the form. It requires your signature, along with additional details that you have to manually enter.
Form 1 – Company Registration (Rs. 4,000 + VAT 8%)
Form 18 – Consent and Certificate of Director (Rs. 2,000 + VAT 8%)
Form 19 – Consent and Certificate of Secretary/Secretaries (Rs. 2,000 + VAT 8%)
After you’ve completed filling the forms, with the signature of your company secretary and your signature, scan these documents and save it as a pdf file. They don’t accept any other file type, to be valid. Upload each individual file carefully and to its relevant field.
Additionally, the Article of Association needs to be drafted by you or a company secretary.
A company may either adopt the standard set of Articles of Association in Table A of the Companies Act of Sri Lanka or draft its own Articles of Association.
Useful links: How to draft your Articles of Association the right way
After you fill in and upload all the necessary documents, you can now make payments.
You can pay either from a debit or credit card.
The company registration process doesn’t end here. After everything else is done and confirmed, the final procedure is to give public notice.
This is usually done by publishing a small blurb on the local papers. This is the only process that cannot be completed online. This is compulsory, and your registration application would not be accepted if this step isn’t completed.
This should include the;
This should be on at least one issue of the Gazette and in at least one issue of a daily newspaper in the Sinhala, Tamil and English languages.
As a registered corporate secretary, Simplebooks can register your company for you.
There are two packages to choose from depending on your requirements.
Both packages from basic and premium focus on helping you register your business with ease, while you can focus on important tasks.
Our premium package lets us be with you, every single step of the way; from registering your business, to publishing a gazette notice, to producing your company seals.
It is a crucial requirement in every company to maintain accurate records of important statutory documents, and this contribution is made by a company secretary.
For example a company secretary will take care of:
Make sure to checkout our pricing options!
Company registration is only the first step of running a law-abiding company in Sri Lanka. There’s a number of other legal requirements you need to adhere to afterwards.
Some of these include;
|Company name reservation||Rs 2000 + VAT 8%|
|Form 1||Rs 4000 + Vat 8%|
|Form 18||Rs 2000 + Vat 8%|
|Form 19||Rs 2000 + Vat 8%|
|Articles of Association (AOA)||Rs 2000 + Vat 8%|
|Certified Form 1||Rs 1100 + Vat 8%|
|Certified Articles of Association||Rs 1100 + Vat 8%|
you will receive the Business Registration Certificate (BRC) in two-three weeks.
Read a more detailed description of the process here.