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Introduction Sri Lanka continues to position itself as an attractive destination for foreign direct investment (FDI) in the South Asia. Sri Lanka offers investors a strategic geographical location, a tried and tested legal framework, and one that protects foreign investment. There are a range of regulatory and legal requirements that
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Learn how to set up a business in Sri Lanka, including its registration, taxation, and foreign investment rules under the Sri Lankan Companies Act, Foreign Exchange Act, and the Board of Investment (BOI) framework Starting a business in Sri Lanka requires an understanding of the available alternative business structures and
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On 18 June 2025, the Minister of Finance, Planning and Economic Development issued an Order under Section 22 of the Foreign Exchange Act, No. 12 of 2017 (“Foreign Exchange Act”), published in Gazette Extraordinary No. 2441/14 (“New Order”), repealing the previous Order published in Gazette Extraordinary No. 2415/56
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On 30 September 2024, the Central Bank of Sri Lanka (CBSL) issued the “Banking Act Direction No. 5 of 2024” (“the New Direction”), setting out a comprehensive framework for corporate governance in licensed commercial and specialized banks. Effective from 1 January 2025, the new Direction has been implemented, thereby revoking