Laws and Regulations
Laws and Regulations
A modern regulatory and legal framework designed for the international market, to guarantee ease of doing business.
Businesses registered within Port City Colombo, are governed by the laws and regulations of the Colombo Port City Economic Commission Act, and thus are privy to unbound financial and business growth advantages of the Special Economic Zone.
Colombo Port City Economic Commission Act
Colombo Port City Economic Commission is the Single Window Investment Facilitator for the promotion of ease of doing business within Port City Colombo SEZ.
Apartment Ownership Regulations
The purpose of these regulations is to establish a comprehensive framework for the management and administration of condominium properties within Colombo Port City, ensuring that the specific needs of these unique developments are addressed in accordance with sections 54 and 55 of the Colombo Port City Economic Commission Act No. 11 of 2021.
Authorised Persons Engaged in Business Regulations
Development Control Regulations
- Amendment to the Development Control Regulations - In the Development Control Regulation, 39 in PART (II) (Planning), provisions are provided to amalgamate two or more adjoining plots to make a single plot for development purpose subject to stipulated conditions therein but no subdivision regulations have been included since the master plan has predefined developments in 74 marketable land plots and in three public facility land plots for there intent purposes as explain in the Colombo Port City (Development Control) Regulations No. 1 2023.
Fees Regulations
The Fees Regulation shares the fees for Authorised Persons and Authorised Persons intending to be designated as Business of Strategic Importance and Authorised Persons intending to engage in Offshore Banking Business.
Guidelines on the Grant of Exemptions or Incentives to Businesses of Strategic Importance Regulations
In keeping with the objectives of the Government, the Colombo Port City Economic Commission is engaged in promoting the Colombo Port City among global investors as a Business Enabling Environment that is internationally competitive, which ensure the modernization of Sri Lanka, creates economic stability and transforms the nation into being a leader in the export of services. In accordance with Section 52 and 53 of the Colombo Port City Ecnomic Commission Act, it is required that the Commission in consultation with the President or the Minister in charge of the subject of the Colombo Port City is to identify businesses to be designated as “Business of Strategic Importance” and make recommendations for granting exemptions or incentives, Identifying Business which may be designated as Business of Strategic Importance.
Guidelines on the Grant of Exemptions or Incentives to Businesses of Strategic Importance - Duty Free Operations Regulations
The Duty-Free regulatory framework is for duty-free operations within Colombo Port City with guidelines that outline eligibility criteria, permitted activities, and goods.
Investments in Colombo Port City Regulations
Foreign Exchange (Investments in Colombo Port City) Regulations, No. 01 of 2022 under the Foreign Exchange Act, No. 12 of 2017
- Directions No. 6 of 2022 under Foreign Exchange Act, No. 12 of 2017 - Directions issued to Authorized Dealers on the Colombo Port City Investment Account - Investor (CPCIA - Investor) -
- Directions No. 7 of 2022 under Foreign Exchange Act, No. 12 of 2017 - Directions issued to Authorized Dealers on the Colombo Port City Investment Account - Investee (CPCIA - Investee) -
Management of Condominium Property Regulations
The Management of Condominium Property regulations establish a comprehensive framework for the management and administration of condominium properties within Colombo Port City, ensuring the specific needs of these unique developments are addressed, covering space allocations for common activities and utility services.
Notice of inclusion of Colombo Port City Land as a part of Colombo Administrative District
Notice of inclusion of Colombo Port City Land as a part of Colombo Administrative District under the Section 3 of Administrative Districts Act, No. 22 of 1955
Offshore Banking - Preliminary Regulations
The Colombo Port City (Offshore Banking-Preliminary) Regulations, outline the eligibility criteria, licensing process, and operational requirements for offshore banks.
Offshore Banking - Prudent Management and Confidence Regulations
The Colombo Port City Offshore Banking-Prudent Management and Confidence Regulations establish the supervisory framework for these operations, assigning oversight to the Central Bank of Sri Lanka.
Registration of Offshore Companies Regulations
A company incorportated in any jusristiction that wishes to engage in business in and from the Port City Colombo should register the company as an offshore company.
Regulations for Registration, Licensing, Authorisation and other Approvals of Authorised Persons
In order to engage in business in Port City Colombo, you have to be an Authorised Person (AP). The application to become an AP and all applicable terms and conditions are in this regulation.
Regulations under the Immigrants and Emigrants Act
Regulations made by the Minister of Public Security under Section 52, read with Section 23 of the Immigrants and Emigrants Act, (Chapter 351).
