A company incorporated in any jurisdiction, or an individual intending to do business in the Colombo Port City, must become an Authorised Person (AP).

• Register as an applicant via the complete application process via the web portal and provide any relevant supporting documents.

• Pursuant to the Commission reviewing the relevant documents and approving the application, an Agreement would be executed with the AP.

• The Agreement would include terms and conditions, the License and the Offshore company registration certificate issued by the Registrar of Companies Sri Lanka.

What you have to do?

• Engage in services to non-residents in a designated foreign currency.

• Commence business operations within 6 months of issuing the AP License.

• Annual renewal of AP License.

• Submission of Annual Returns to the Commission.

• Submission of audited financial statements to the Commission annually.

• Notify the Commission within 30 days if any changes or alterations are made to the tendered application.

• Abide by all laws and regulations passed by the Commission.

• Abide by all applicable laws and regulations in Sri Lanka, unless specifically exempt by the Colombo Port City Act and Regulations.

What you get?

• As the Single Window Investment Facilitator, the Commission will facilitate the obtaining of all required Regulatory Approvals.

• All employees of the AP shall be remunerated in the designated foreign currency and will be exempt from personal income tax.

• No restrictions on employing non-resident individuals.

• No restrictions on foreign ownership (shareholding) for companies.

• Ability to repatriate 100% of capital, and profits earned by engaging in business in the Colombo Port City.

• The Commission will facilitate the obtaining of Visas for AP employees as well as their respective families.

• Establishment of an International Dispute Resolution Centre with the provision of engaging an arbitrator with international repute.

• Investment protection guaranteed by the CPCEC Act.

• Priority to be given by courts to civil and commercial conflicts that have arisen in the Colombo Port City and hearing these cases in an expeditious manner.

• No immunity from suit is granted to the Commission, therefore the AP has the ability to refer any dispute with the Commission to arbitration/litigation.

The Laws  & Regulations you have to follow.

• Colombo Port City Economic Commission Act

• Authorized Persons (AP) Regulations

• Authorized Persons Engaged in Business Regulations

• Businesses of Strategic Importance (BSI) Regulations

• Development Control Regulations (DCR)

• Duty-Free Regulations

• Fee Regulations

• Inclusion of Colombo Port City into Colombo District Notice

• Foreign Exchange Regulations

• Offshore Regulations