The costs of setting up a business in Sri Lanka are available at the Board of Investment of Sri Lanka Website . The costs of registering a limited liability company, of land, of construction of buildings of various types, the costs of labor according to profession and skill, of utilities such as water and electricity, of transportation, and telecommunications services are given.
In addition, various industry sectors that receive incentives from the government such as tax holidays, exemption from import duties and exchange control, and those that are reserved for citizens are identified here.
This website should be first stop for any Sri Lankan expatriate interested in starting a business in Sri Lanka.
Monday, February 23, 2009
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since drinking water is going to be a big deal in the future we should try to cater to the global need instead of local.
ReplyDeletesingapore is going for it in a big way if i am right. we should somehow place the technology.
another project is indoor agriculture using controlled climates. it'll give a kind of status to young people who hate to be seen driving tractors & buffaloes around with mud all over. I am not trying to demean it by any means. it's a serious image problem here. farmers have told me personally that their children want to be out of it. they end up doing menail jobs in middle east.
we could go for some exotic products.
the cost factors & technology will have to be studied. I remember ranil appointing top american banking executives by paying them millions & trying to privatise our profitable banks calling them "not so profitable". today our banks still stand while lots of american banks crashed.
instead what we must do is pay the qualified sinhala expatriates well, give them incentives & attract them here to set up these projects. it can apply to farming, fishing etc.
giving respect to these professions will pay off in the long run. the road will be long but it can be done.
sri lanka is tailor made for these projects & much more.
the time is ripe.
If anyone of you do not know, it is very easy to set-up a BOI company in Sri Lanka, and the guidelines can be found on the BOI web site. The staff at BOI are very helpful too.
ReplyDeleteIf you have both local and overseas partners, benefits are bigger for local partners on a BOI venture (15% tax on BOI income).
If you are investing in a BOI venture, think about making your family members in Sri Lanka also investors of your BOI venture.