SRI LANKA

 

Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka (Sinhalese: , Tamil: இலங்கை; known as Ceylon before 1972) is an island nation in South Asia, located about 31 kilometers (19.3 mi) off the southern coast of India. Popularly referred to as the Pearl of the Indian Ocean,^[2] it is home to around twenty million people.

Famous for the production and export of tea, coffee, rubber and coconuts, Sri Lanka boasts a progressive and modern industrial economy and the highest per capita income in South Asia. The natural beauty of Sri Lanka's tropical forests, beaches and landscape, as well as its rich cultural heritage, make it a world famous tourist destination

COUNTRY PROFILE

Sri Lanka the 24th largest island in the world strategically located in the Southern tip of India which is the point of entry to south Asia. With a highly liberalized economy, Investors are provided with preferential tax rates, exemptions from exchange control and 100% repatriation of profits......... [ More.. ]

CURRENCY AND FINANCIAL SYSTEM

1. Currency The unit of currency is the Rupee (Rs.). Restrictions in all current external transactions have been removed by Sri Lanka upon accepting Article viii of the Articles of the Agreement of the IMF thereby e Sri Lankan rupee is fully convertible and can be freely used in respect of all current international transactions. Commercial banks are allowed to ............... [ More.. ]

ENIVIORENMENTAL REGULATIONS

A. Environmental Impact Assessment (EIA) The importance of the Environmental Impact Assessment as an effective tool for the purpose of integrating environmental considerations with development planning is highly recognized in Sri Lanka. The application of this technique is considered as a means of ensuring that the likely effects of new development projects on the environment...............[ More.. ]

FOREIGN INVESTMENT

1. Regulations and restrictions Investments in shares in Sri Lankan Companies by ‘non residents ‘are mainly regulated under the Exchange Control Act. Sections 7,10,11,15 and 30(5), thereby it is required to obtain permission from the Controller of Exchange for such investments. ............ [ More.. ]

INFRASTRUCTURE

1. Telecommunication Sri Lanka has the most liberalised telecom industry in South Asia comprising with 3 fixed line operators 4 wireless local loop operators, 4 mobile operators and 6 public phone operators with up to 150 Mbps through satellite or fibre optic cable. ............. [ More.. ]

LEGAL SYSTEM

In Sri Lanka, principles adopted from England apply in relation to bills of exchange, sale of goods, partnership, companies, insolvency, banks and banking, maritime matters, insurance, criminal law, procedure and evidence. English principles also apply in the organizational patterns, practices and traditions of the Courts. ......... [ More.. ]

LICENSING REQUIREMENT FOR INVESTMENT APPROVALS

20 categories of different business activities require specific license and/or approvals from designated authorities in order to obtain operating status in Sri Lanka [ More.. ]

PROTECTION OF INTELECTUAL PROPERTY RIGHTS

Sri Lanka is a party to major intellectual property agreements a. Berne Convention for the protection of literary and artistic works, b. Paris Convention for the protection of industrial property, c. Madrid Agreement for the elimination of false or deceptive indication of source on goods, d. Nairobi Treaty, e. Patent Co-operation Treaty, f. Universal Copyright Convention and the Convention establishing the World Intellectual Property Organization (WIPO)................ [ More.. ]

RANKINGS -WORLD/REIGIONAL

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