Frequently asked questions

Proposed company names, the business activity, identity documents and addresses of the directors, shareholders and company secretary, the registered office address and the planned shareholding. Foreign shareholders may need more. See company registration for the full list.

The Registrar of Companies runs an online system, eROC, for most company registrations and filings. We prepare and file through it for you.

Under section 27 of the Companies Act, No. 7 of 2007, a private company cannot offer its shares to the public and can have up to 50 shareholders, not counting employees and certain former employees. A public company has neither limit, so it can offer its shares to the public.

It depends on the Registrar of Companies and on how quickly the documents are signed. Neither is in our hands, so we can't promise a date.

The company and its officers can face penalties, and out-of-date records cause problems with banks and buyers. We can bring the records up to date.

Who decides what, and how new money comes in. What happens when a shareholder wants to sell, leaves or dies, or when the company is sold. How disputes are settled.

Many business contracts are valid without notarisation. Some documents, such as deeds transferring land, must be executed before a Notary to be valid. Ask us before you sign.

A formal letter, usually from a lawyer, that sets out what is owed or what must be done and gives a deadline before legal action.

It varies with the court, the type of case and how the other side responds. Some cases take years. That is one reason we look at negotiation, mediation or arbitration first where they fit.

A check of the Land Registry records to trace who has owned the property and whether there are mortgages or other registered interests. A title search is normally done before any money is paid. Ask us about the property.

It depends on the title search, how quickly the parties sign and the Land Registry. We give you an estimate once we have checked the title.

A document that gives another person authority to act for you.

Yes, by a formal revocation, which must be registered with the Registrar General's Department.

Yes. A Notary attests only a signature made in their presence, by a person whose identity they have checked. If you are abroad, there are other routes, such as a Power of Attorney. Ask us which applies to you.

In Sri Lanka, a lawyer admitted to practise is an Attorney-at-Law, so in everyday use the two mean the same. "Attorney" on its own can also mean a person given authority under a Power of Attorney, who need not be a lawyer.

Monthly. Up-to-date books make tax filings easier to prepare and show problems earlier. Ask us about your business.

Every company in Sri Lanka must have its financial statements audited. Ask us about your company.

A Taxpayer Identification Number issued by the Inland Revenue Department. Companies, and many individuals, need one to file returns.

Usually an annual income tax return. A company registered for VAT also files VAT returns, and a company with staff files employee tax returns. Our guide to company tax obligations has the calendar.

Use the form or call us. Tell us briefly what you need and we'll arrange a time with the right person.

We use the documents and information you share to deal with your matter, and we keep them confidential unless the law requires us to disclose them. Our privacy notice explains who else processes data for us, such as our hosting and email providers.