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Procedure NameApplication For Approval Of An Investment( section 16& 17)
Description

Category

Permit/license

Responsible Agency       

 

Board of Investment Sri Lanka

 

Address :   Level 26, West Tower, World Trade Center, Colombo 01, Sri Lanka.

Phone:    (+94 11) 2385972-6, 2346131-3

Email:   info@boi.lk

Legal base of the Procedure

Board of Investment of Sri Lanka (Amendment) Act, no. 3 of 2012

Fee
  • Overseas - Bank draft or cheque for US$ 200 + VAT (12%).
  • In Sri Lanka - Bank draft, cheque or cash equivalent of US$ 200 + VAT (12%) in SL Rupees.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Required Documents

No.

Type of documents

1

 Draft Articles of Association of the Company

2

Statement of names of the proposed shareholders and the number of shares held by each of them signed by the Applicant

3

Statement of the names and addresses of the proposed Directors signed by the Applicant

4

Proof of inward remittance along with Bank Credentials of the proposed investors.

5

In the event, the application is forwarded by a representative of the proposed new shareholders, he or she should submit a copy of a letter of authority to act on their behalf which shall also indicate of individual, foreign equity contribution of each foreign collaborator.

 

 

 

Process Steps

Step 1

Applicant should submit a duly filled application form together with aforesaid required documentation.

Step 2

Application form it may be submitted with the appropriate fee to the Director (Investment) / Senior Manager (Investment), Investment Division, Board of Investment of Sri Lanka, 24th Floor, West Tower, World Trade Centre, Echelon Square, Colombo 01

Step 3

The Board reserves rights to withdraw its approval at any time if it finds any misrepresentation of facts stated in the application

Step 4

Permit will only be handed over to the Applicant


 

CategoryImport/Export

The following form/s are used in this procedure
TitleDescriptionCreated DateUpdated DateIssued By
Application for Investment Approval (Section 16)This is the Application for Investment Approval (Section 16)09-01-201802-03-2018 This is Dowload File
Application for Investment Approval (Section 17)This is the Application for Investment Approval (Section 17)10-01-201802-03-2018 This is Dowload File
This procedure applies to the following measures
NameMeasure TypeAgencyDescriptionCommentsLegal DocumentValidity ToMeasure Class
Requirements for approval of an investment under BOI.(Section 16)Permit Requirement These approvals are granted; only to facilitate the entry of foreign investment to setting up of a new company with foreign shareholding or for the purpose of transferring or issuance of new shares in an existing non-BOI company to foreign investors.At present the minimum investment requirement to qualify for the section 16 projects is US$ 250,000. This can be either 100% foreign investment or a joint venture investment with a local collaboration.Board of Investment of Sri Lanka (Amendment) Act, no. 3 of 201231-12-9999Good
Requirements for approval of an investment under BOI.(Section 17)Permit Requirement Either for the purpose of setting up a new company to be operated under Sec.17 of the BOI Law or; To set up an expansion of an existing BOI companyUnder Sec.17 of the BOI Law, it is empowered to approve projects and enter into agreements with enterprises and to grant exemptions from laws such as Inland Revenue, Exchange Control and Customs, subject to fulfillment of the investment threshold or any other specified requirement.Board of Investment of Sri Lanka (Amendment) Act, no. 3 of 201231-12-9999Good