Foreigner and Local guy making a company together in Food Business

Member since 27 March 2023

Lora123Member10 May 2023 13:30:39

Hey everyone.. I want to make a company together with a guy from Sri Lanka in food business (restaurant) He wants 20 % and I get 80 %.. One question. is this legally okay? Because I read something, that it鈥檚 only possible to make a company together when the local guy gehts 51% and I get 49%.. Anybody knows something in this topic?

Thanks in advance!

Laura

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onadid17 Member

Member since 06 May 2023

onadid17Member10 May 2023 14:02:43

@Lora123

Dear Laura,聽 There is no such rule as lot of foreigners are investing in sri lanka, it's about how u define it legally and while registering the company name in Sri Lanka. Probably, people will do in such way to avoid probable taxes in the future.