Opening a small business in Sri Lanka

Hello faisal67.

A new thread has been created from your message on the Sri Lanka Forum for more interaction.

Some members come here to talk and share informations about similar issues, so i am pretty sure that you'll receive some advices soon.

Thanks

Karen.

Dear Faisal,

You need a business registration, shopping space and an import license to do what you mentioned in the thread.

Why don't you PM here with exact business idea and the targeted market.

I have helped many parties from India, Pakistan and Maldives to setup businesses in Sri Lanka and would like to check your plans before coming with the cost factors.

Thanks,
Zee

What happened to your small business idea?

hello Zeejay,

My name is yousuf,currently in united arab emirates ,
i would like to start a small bussiness in srilanka,
i would like to know the setup procedures and cost to start a bussiness , as iam not having a big budget i would like to open it small


thanks

Dear Yousuf,

Could you kindly pm me your email address along with interested areas.

Setting up a business won't cost that much.

Working capital may vary based on the interested areas.

Probably we can plan for something which we can start in small and grow.

Looking forward to a detail reply soon.

Hi Zeejay,
My name is Chris from Australia.
I am thinking of starting a motorcycle touring business in Sri Lanka next year.
Are you able to suggest the best course of action as far as paperwork is concerned for business start-up in Sri Lanka.
I am arriving in Colombo on 1st August for 4 weeks to get the paerwork signed and sealed and to do some more touring myself to discover best routes and hotels.
Any advice would be greatly appreciated.
Thanks
Chris
p.s apologies for hijacking someone else's thread

Hello Sunsetcoast,

Kindly note that this thread has been inactive since 2013 and the chances of getting a response are dim.

i would suggest that you post a new thread in our Formalities and procedures in Sri Lanka

Which would help you some answers.

Regards,
Gavind.

I have already PM sunset

It's good but be careful with whom you are dealing

Hi Zeejay,  I'm making motorbike parts in australia, and would like to move my biz to Sri Lanka,    I lost everything in a fire,  so I'm starting off poor, 
local trade commissioner got sick of my many questions and told me to go to SL  to work it out,   the main thing is that I have to go there on a tourist visa, , register the business,  then leave and reapply for business visa, but I don't know how long that takes, 
I was told I should probably register a small business rather than a company,    all of my products will be for export market,    any advice would be appreciated,  and what you would charge to register the business for me,   I'd still like to try to get a business visa the first time I go there, 
regards Simon

Hi Simon
I am Australian and have recently setup private company in Sri Lanka. PM ME Is best.
but short story....
you need a sri lankan business partner.
there are many that will volunteer but few you can trust ...I know some good people...
can be set up in 4 to 5 weeks min
cost about $600 aus
the clanger is you will need a resident visa renewed yearly. business visas won't cut it they are for short term.
I set up business and bank accounts on non business visa not ideal but doable easily.
resident visas are very possible legally you just have to know the right people

Hello everyone,

@ Sunsetcoast, i suggest you drop an advert in the Business partners classifieds in Sri Lanka section of the website and give a detailed description so that you may be contacted by interested members.

All the best,
Bhavna

Thanks Bhavna
but not interested in business or partners was just trying to answer a question
cheers

Hi Chris,   did you end up setting up bike hire?    where are you located?    not sure if your customers crash much,  but I straighten forks frames etc.    I'll pm my deets

Simon, Did you manage to get it going? I was away from regular life style for few months and could not follow up the threads closely.

Share the current status as things got changed since last communication.

Thanks,
ZEEJAY

Hi Zeejay,  I have another couple of months work in australia before I can leave,

one of the things that has me worried is that trade consulate told me to go to SL on a tourist visa,  reg biz,  then leave,  then reapply for a biz visa,  I don't know whether I would leave to chennai, and visa would be granted quickly,  or if I should go back to australia in this time, 

I'm wondering if I had someone register the biz for me,  then I could come just once, 
you probably can't answer that q,

Issue with the trade consulates overseas is that they are ill informed or haven't performed these duties from overseas.

What you need is a some form of a residence visa to stay here and run the business.

Assuming that what you supposed to bring in is below the investment threshold 250,000 USD, what you need is a local party (established business) as a stake holder and arrangement to make you as a partner/employee under the new business.

This will avoid complex visa regulations.

Drop a private message for more details.

Hi Simon, hope you're on your way to Sri Lanka!

From your experience with the trade counsellor, I suppose you have an idea that things are not the same here, as in your home country...  and you're right.

In Sri Lanka, it is the norm to do things which sometimes "cut corners" and sometimes that is the only way of getting things done!

So, please don't worry about what visa you are on when you arrive, have a good look around, and if you decide to invest and move here, get a GOOD lawyer (good does NOT mean expensive, it only means highly recommended by others) and just get started!

Chennai is the place you should go if you want to change your visa later, it is close and has a Sri Lankan Embassy.

Best of luck!

Thanks Sam,  not there yet,  I got ripped off on moving premises in australia,  and my stuff is being stored in 3 dif places,  hopefully sort it out in a couple of months, 

I spoke to a guy in chennai already,  any guesses how long it would take to change visa?

I had it done within 24 hours for my daughter last year.  But I would allow for 48 hours, to be on the safe side.  If you need any help when you're here, just pm me.  Happy Journey!

Wow thanks,   that was a really big concern for me, 
I was worried they would drag is weeks,  and I was looking at taking my moulds and buying materials in chennai and renting space so I could supply some products while I waited

By the way company formation regulation going to change and I don't think your case would fit in here Simon... Better trying elsewhere such as Vietnam or Myanmar...

IGNORE the naysayers, Simon, we have in place a foreign investment friendly government, and there are many ways of happily coming and settling down, just give me a pm when you're here!

Cheers!

@samsrilanka, Do you know the fact that ppl like Simon are here is to avoid the taxes or to get the benefits? He is not bringing in anything to support the economy here and last week I had the discussion with minister of finance... tone is clear... country is not have an open door for the beggars... its not a naysay and he is here to get the benefits... thats it... please check the ppl before sharing the details sam

Guy is not going to bring in or share any benefit...
Trying to use the system and the country to keep him safe guard...
Genuine investors and entrepreneurs are always welcome but not these guys...

Hi Zee, I was only interested in this because the fellow was talking about doing motorcycle parts and touring and EXPORTING his products, ALL of which should be good for the country...

I am so sad that previous governments have wasted so much foreign exchange that the country is virtually broke, and we need to really do a crash programme of bringing valuable foreign currency from both investments and exports....

Thanks!

Hi Sam, I understand your point.... But these guys neither bring in any healthy investment nor add any value to the foreign exchange drain... Its time to focus on some startups and invite them to be in here... or focus on middle eastern men travelling to Singapore and Malaysia for the vacation... They spend and contribute to the economy more than these fellows

Hi.. i'm prabhath
Where u live in sri lanka ?

Hi Zeeja and everyone,

am interested in starting up a small sandwiches restaurant in Sri lanka , anyone can help me with the budgeting and some info about the top touristic places in Sri lanka ?

thanks,

Hi Mohamed ,

Have PM you.

Thanks,
Hiras.

Hi everyone,

I have just read through all of the threads here on starting a business in Sri Lanka. It seems that some things have changed in the past year and I am hoping to find some more information on the current situation (or looking forward to 2018).

I am a solo entrepreneur and I want to start a small business in the tourism sector. I don't have any local partner yet, and I am not sure if it's necessary to have one?

My vision is to employ only local people, and as it's a small business, I do not plan on making much money. It's more about the creativity of the project and a way to make Sri Lanka my home, as well as create jobs for local people, and provide tourists with some more options during their travels.

This would be a 6 month seasonal operation, and so I am wondering what kind of visa i could manage on? And any thoughts on buying/leasing land in tourist towns?

Any information would be very much appreciated.
Thanks! Bella

Hi Bella,

Have responded to your inbox. Hope it would be beneficial for you.

Thanks,
-Super Man-

Hi,

Hope you're doing well. I'm damien from FRANCE and would like to start a small business in IT or  farm like poultry in Sri Lanka. But no idea of how much I need to start those business.

I'm born in Sri Lanka then move to France very young.  Now I would like to start something there and with that income, i would like to help local peoples.

Do know someone who is specialist in those industries and who can help me please ?

Thank you in advance

Hi Damien,

Ill revert.

Thanks,
- Super Man-

Hi Bella,
First a quick hi and how are you ? Thanks for taking an interest in Sri Lanka however small the business you intent to have would be. The fact that you value creating jobs for the locals is indeed a refreshing reminder that it's the best feeling in the world to know you can uplift another human being. So let's gets down to your question. Visas are not a problem. There are a couple of ways you can get about it. Let me know and I will be more than happy to guide you. As far as the business is concerned, please be aware of the scammers out there which is it only native to Sri Lanka. Depending on the scale of the business I would encourage you to create company LLC to protect your interests. Stay away from school signing agreements we can only a lawyer as witness. Again I can guide you in the right direction with zero bias and personal gain. As for me, I'm Sri Lankan but I lived in the US for more than a decade before moving back to sr lanka. I'm in hospitality myself and I own hospitality solutions company along with my day job as General Manager of a boutique hotel in Sigiriya. Right now I'm in the seed stages of creating a boutique travel agency. As yout can see, I love all things hospitality.
Hope you have a great day and wish you the best.
A.

Hi

This is sajin here from India, I am looking to start a Cycle shop in Srilanka which will be imported from India. I would like to know the formalities for getting a shop license + Import license for foreigners in srilanka. Also I would like to get some idea about bi cycle markets in Sri Lanka

hello zeejay, i need some advice on starting a bussiness in sri lanka.

Hi bella, Currently My Wife running a Air Line Ticketing business in Srilanka Owned by me. I would like to improve our business in Tourism Field. And I'm searching a honest partner.. may we can help each other. please PM with your Great plans. You can trust me 100%.