Doing Business in Sri Lanka
Sri Lanka has become an ideal location for Global Investment being –
- Situated at the cross roads of major shipping routes to South Asia and the Far East
- Gateway to the Indian subcontinent
- Logical location for establishing manufacturing and service organisations
- Climate – good almost throughout the year
- People – Friendly with literary rate around 92% and ability to communicate satisfactorily in English.
- Government – Business friendly, encourages foreign investments, granting various incentives for selected sectors.
- Environment – Reasonably good road network, less industrial / noise pollution
- Skilled Manpower and professional managers – Available at reasonable cost
- Unskilled Labour – Easily trainable and available at comparatively cheaper cost
- Banking Systems – Fully developed with more than 25 commercial banks
- Electricity & Water – Available almost everywhere
- Telecommunication – Excellent
- Earnings and Capital –Can be repatriated, provided investment is made through a “Share Investment External Rupee Account” (SIERA) bank account.
- Legal System – reasonably sound and transparent
There are however a number of issues which you must consider when you are looking to set up your business in Sri Lanka. This document takes you through some of the common questions we come across and gives you practical information about the issues you need to consider.