Last updated
A Sri Lankan citizen can own all the shares of a Singapore private company. ACRA requires a registered corporate service provider (CSP) to file for foreigners, and the board needs one locally resident director. The fees are S$15 for the name and S$300 to register, S$315 in total. Checked . SingaporeCompanySetupGuide.com publishes this as an outside guide. It is not an agency or a provider, and the form below routes your request to firms that suit it.
What should a Sri Lankan founder look at?
Most of the work is routine. The points that are particular to you are the visa list, the treaty, document authentication and Sri Lanka's exchange orders. The standard route is in register a company as a foreigner.
| Topic | Position for Sri Lanka | Source |
|---|---|---|
| Filing | Through a CSP, with a director resident in Singapore | ACRA |
| Entry visa | Sri Lanka is not on ICA's visa-required list | ICA |
| Tax treaty | Full DTA in force, not modified by the MLI | IRAS |
| Apostille | Sri Lanka not in the status table | HCCH |
| Money out of Sri Lanka | Foreign Exchange Act orders limit some capital remittances | CBSL |
Does a Sri Lankan passport need a visa for Singapore?
The ICA visa guidelines page lists the countries whose passport holders need an entry visa before they travel. Sri Lanka is not in that list. This tells you about the list, not about your trip: ICA can still refuse entry, and travel documents other than a standard passport may be treated differently. ICA invites people to contact it with a copy of the passport cover and biodata page if they need a ruling. The SG Arrival Card must be filed within 3 days of arriving. A visit does not give you the right to work, and a founder who wants a salary needs a pass. See Employment Pass.
What does the Sri Lanka and Singapore treaty provide?
Sri Lanka has a full double tax treaty on the IRAS list. It is in force, the Multilateral Instrument has not altered it, and it has no arbitration clause. IRAS does not show the withholding rates on that list, so we give none. The treaty PDF linked there sets them. If you plan an online shop run from Sri Lanka, see e-commerce company in Singapore for the Singapore side.
What do Sri Lanka's exchange orders mean for you?
The Central Bank of Sri Lanka (CBSL) explains that the Minister of Finance has issued Orders under Section 22 of the Foreign Exchange Act that limit or suspend certain outward remittances. One CBSL notice says a new Order relaxed some of the limits on capital transactions, with effect from for six months. Orders have been replaced since then, and we did not read the current one, so we quote no amounts. Before you transfer any share capital or provider fee, ask your licensed bank which order is in force and what documents it wants. A Sri Lankan lawyer can tell you whether a transfer for company shares counts as a capital transaction.
Can Sri Lankan documents carry an apostille?
We searched the HCCH status table of Apostille Convention members for Sri Lanka and found no entry. Singapore's entry reads . So an apostille is not the clear route for Sri Lankan papers. We found no ACRA rule that tells foreigners to authenticate documents at all, so the choice rests with your provider. Ask it in writing what it accepts for a passport copy and proof of address, and do not pay for certification until it replies.
Who can be the resident director?
A resident director is compulsory. If you are not moving, you need either a partner in Singapore or a nominee, and nominee director in Singapore sets out how nominees work. The office address and the secretary come on top.
What does the filing involve?
- Name your preferred CSP, then send it the proposed name, activity and shareholders.
- The CSP files the name application for S$15.
- Scanned passport and address documents go to the CSP for all officers.
- The CSP pays S$300 and files the registration.
- With the UEN, approach banks. ACRA does not publish their rules for Sri Lankan nationals. See business bank account in Singapore.
To let a provider handle the filing, use the form on this page and say you are applying from Sri Lanka.
Sources
- IRAS: Sri Lanka in the treaty list: Sri Lanka treaty row.
- ICA: visa-required countries: visa-required list and arrival card.
- HCCH: Convention status table: absence of Sri Lanka.
- MinLaw: Convention start for Singapore: date the Convention began for Singapore.
- CBSL: order relaxing limits on outward remittances: Section 22 Orders and the June relaxation.
- ACRA: foreign owners: local residency and provider conditions.
- ACRA: price list: government fee schedule.
