Investor Presentaiton

Setting up in Sri Lanka Process of setting up The three main steps to set up in Sri Lanka: 1. Incorporating a company under the Companies Act No. 7 of 2007 2. Obtaining Tax Identification Number for the company, and any other required tax registrations, depending on the turnover, etc. 3. Opening an Inward Investment Account (IIA) and remitting funds. Legal structure A company belonging to one of the following categories will need to be incorporated under the Companies Act No. 7 of 2007: Private/ Public Limited Company (branch/project/liaison office) • Overseas company • Offshore company Tax registration The company must obtain: Tax Identification Number (TIN) (must for VAT and Income Tax) Suspended VAT registration (SVAT) if applicable Economic Service Charge (ESC) registration if applicable Remit capital The investor (company or individual shareholder(s) will need to: • • • Obtain an introduction from their bankers in the country of origin Open an IIA to remit the funds Comply with Foreign Exchange Act restrictions as to foreign investment KPMG © 2020 KPMG, a Sri Lankan partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in Sri Lanka. Document Classification: KPMG Confidential 3

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