Doing Business in Port City Colombo

A company incorporated in any jurisdiction, or an individual intending to do business in the Colombo Port City, must become an Authorised Person (AP).

• Register as an applicant via the Colombo Port City Economic Commission Web Portal.
• Complete application process via the web portal and provide any relevant supporting documents.
• Pursuant to the Commission reviewing the relevant documents and approving the application, an Agreement would be executed with the AP.
• The Agreement would include terms and conditions, the License and the Offshore company registration certificate issued by the Registrar of Companies Sri Lanka.

An AP who is not a Secondary BSI who leases and develops a plot of land and satisfies one of the following,

• A minimum investment of USD 100 million made per plot of land or a pro-rated investment in a subdivided plot of land according to the Development Control Regulations, Or
• A minimum investment of USD 25 million made in the following land plots designated for,
  
  1. Marina
  2. Education
  3. Culture and Healthcare
  4. Convention centre

An AP who is not a Primary BSI and engages in one of the following business activities,

• Global & regional economic activity in international trade
• Shipping and logistic operations
• Offshore banking and finance
• Information technology
• Business process outsourcing
• Corporate headquarters operations
• Regional distribution operations
• Tourism and other ancillary services
• Innovation
• Entrepreneurship
• Entertainment
• Generation of employment opportunities
• Sustainable development
• Urban amenity operations in the settlement of a residential community

And, qualifies under at least one of the below criteria,

1. The AP or parent company having an annual global revenue of more than USD 50 million
2. Minimum of 100 employees employed within 5 years of commencement of operations.
3. A start up or growth stage business with an enterprise valuation of USD 500,000.
4. Demonstrate to the satisfaction of the Commission that they (AP intending BSI status) contribute to the economic and social development of the country by fostering innovation, knowledge and technology transfer, research and development or generate the impetus for creating an international financial centre within the Colombo Port City.