Fees and timelines in 2023
Fees
Sri Lanka LLC setup costs in Year 1 will amount to US$5,750 and annual company costs in Year 2 and thereafter will amount to US$3,650. The average fee per engagement amounts to US$12,550 including Sri Lanka company incorporation, corporate bank account setup, legal registered office and all government registration fees but not tax and accounting fees.
| Different Sri Lanka entity types | Cost | Draft invoice |
|---|---|---|
| Tax resident LLC | US$12,550 | View invoice PDF |
| PLC | US$13,550 | View invoice PDF |
| Branch of a foreign company | US$13,450 | View invoice PDF |
| Representative office | US$11,300 | View invoice PDF |
| Free zone LLC | US$15,000 | View invoice PDF |
Timelines
The average Sri Lanka company registration period is 17 weeks as outlined below:
| Service | LLC | PLC | Branch | Rep office |
|---|---|---|---|---|
| Engagement planning | 2 weeks | 3 weeks | 3 weeks | 3 weeks |
| Company incorporation period | 7 weeks | 10 weeks | 5 weeks | 5 weeks |
| Bank account approval | 4 weeks | 4 weeks | 3 weeks | 3 weeks |
| Corporate internet banking approval | 3 weeks | 3 weeks | 3 weeks | 3 weeks |
| Engagement completion | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 17 weeks | 21 weeks | 15 weeks | 15 weeks |
