Sri Lanka Free Zones in 2021
Sri Lanka has a network of 14 free zones, industrial parks and export promotion zones. Many multinational investors choose to set up businesses in Advantis Free Trade Zone to conduct regional and international trade.
Why set up a company in Advantis Free Trade Zone?
- It is ideal for i) global markets and manufacturing ii) agriculture iii) transportation and logistics iv) leisure and aviation v) power and energy vi) consumer and vii) investments and services;
- Benefits include i) no customs checks ii) cheaper than free zones in Singapore or Dubai iii) good location on international shipping routes between South East Asia, India and East Africa markets.
|Advantis Free Trade Zone summary|
|FTZ used mostly by which industry?||Refer to point 1. above|
|Timeline to complete company setup?||12 weeks|
|Relevant Free Zone Authority||Advantis Free Zone Authority|
|Timeline to open corporate bank account||8 weeks|
|Quality of facilities||Excellent|
|Can sign sales contract with Sri Lankan Clients?||Yes|
|Can invoice Sri Lankan Clients?||Yes|
|Corporate tax payable in Sri Lanka||14%-28%|
|Corporate banking option||Citibank|
|Physical office space required?||Yes|
|Allowed to import raw materials?||Yes|
|Allowed to export goods?||Yes|
|Can be wholly foreign-owned?||Yes|
|Total engagement cost for Sri Lanka Free Zone incorporation (Year 1)||US$15,000|
|Sample engagement invoice||View invoice PDF|
How Healy Consultants can help
- Healy Consultants assists multinational Clients to set up companies in Advantis Free Trade Zone. Setting up a company takes five months on average;
- We will assist with i) incorporating a limited liability company ii) opening a corporate bank account iii) filing a registration application with the Free Zone Authority (including preparation of a quality business plan) and iv) assisting our Client locate warehouse premises within the free zone to rent.