Over 2,400 new private companies incorporated in March 2024

By Nuzla Rizkiya

A total of 2,440 new private limited companies have been incorporated between 1 to 31 March, according to the Department of the Registrar of Companies. 

As per a notice published, the companies have been incorporated under Section 05(01) relevant to the incorporation of companies under Companies Act No. 07 of 2007. 

The figure represents a 18% growth compared to the number of registrations recorded in January 2024.

Last month, President Ranil Wickremesinghe said that the Registrar Department recorded a total of 1,995 new company registrations in January. 

Under the Companies Act No. 07 of 2007, a company is a body corporate identified by the name by which it has been registered.  

Subject to certain provisions of the act, these companies can carry on or undertake any business or activity, do any act or enter into any transaction within or outside Sri Lanka.  

Last year the Department of the Registrar of Companies recorded a revenue of Rs. 512,656,180,06 through the receipts of Registrar General of Companies.