Partnership Registration
Partnerships offer a flexible and cost-effective way for two or more individuals to start a business in Sri Lanka. Ontriq handles the registration, agreement drafting, and regulatory setup.
Partnership Registration in Sri Lanka
A partnership in Sri Lanka is governed by the Partnership Ordinance and involves two or more individuals (up to 20) carrying on business with a view to profit. Unlike a Pvt Ltd company, a partnership does not have a separate legal identity, so partners share liability for business debts.
Ontriq registers partnerships with the relevant provincial secretariat, drafts comprehensive partnership agreements, and ensures all tax and regulatory registrations are completed.
Types of Partnerships
Partnership vs. Pvt Ltd Company
While partnerships are simpler and cheaper to set up, they lack the limited liability protection of a Pvt Ltd company. If you're unsure which structure is right for your business, Ontriq provides legal structure advisory to help you decide.
Our Process
Advisory
Understanding your business model and advising whether a partnership is the best structure.
Agreement Drafting
Preparing a comprehensive partnership agreement covering profit sharing, roles, and exit terms.
Registration
Filing the partnership with the relevant provincial secretariat and obtaining registration.
Tax Setup
TIN registration and any required tax registrations with the Inland Revenue Department.
Partnership registration is part of our company formation services.
