DRC, Labour Dept. sign MOU to implement single window for business registration

Friday, 9 February 2018 00:00 - - {{hitsCtrl.values.hits}}

A Memorandum of Understanding (MOU) was been signed between the Department of the Registrar of Companies and the Department of Labour to share information between the two departments for the establishment of a web-based single window for business registration.

Registrar General of Companies D.N.R. Siriwardena and Commissioner General of Labour R.P.A. Wimalaweera signed the MoU.

The single window for business registration is expected to be launched from April 2018. The Information and Communication Technology Agency of Sri Lanka (ICTA) will facilitate the establishment of an integrated system connecting the Department of the Registrar of Companies, Department of Labour and the Department of Inland Revenue.

This web-based single window for business registration allows the applicant to obtain a business registration number, EPF number and TIN number by filling a single application online. It will reduce the time taken to register a business currently from six days to one day.

The single window for business registration is a reform implemented under the Starting a Business Task Force which is appointed to implement Investment Climate Reforms of Sri Lanka to improve business registration of companies.

The main objective of the Investment Climate Reforms program is to improve the Ease of Doing Business and thereby to the Doing Business Index of Sri Lanka. The Ministry of Development Strategies and International Trade is coordinating the overall Investment Climate Reforms program with eight task forces including the Starting a Business Task Force.