BOARD OF INVESTMENT ( CONT. )...!
BOARD OF INVESTMENT ( CONT. )...!
BOARD OF INVESTMENT ( CONT. )...!
Furthermore, it has been found that this land has great
accessibility, with the Bandaranaike International Airport being just a
half-hour drive from this location via the expressway..
·
Estimated Value:
o USD
8.50 million
·
Terms of Allocation
o 99
year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
Logistics
(Bloemendal
Land – Colombo 14)
• This land is located near an abandoned landfill
site and the Colombo Port. With the expansion of the Colombo Port and other
developments, it will have great potential for logistics and associated
development.
§ Estimated
Value:
·
Government Chief Valuer's Estimate USD 16.68
Mn
§ Terms
of Allocation
·
On a 50-year
lease basis
§ Planning
Authority
·
Urban Development Authority (UDA))
(Land
at Meethotamulla, Kolonnawa)
• This land is an abandoned dump site and is located 3 km
from the Colombo Commercial Centre towards the eastern part of the city. It is
located 01 km from the Orugodawatte Interchange site which connects to the
Katunayake Expressway. On the other hand, this land is close to the Peliyagoda
Freight Zone. Considering its potential location for logistic facilities and
related developments.
·
Estimated Value:
o USD
28.87 million
·
Terms of Allocation
o 30/50
years lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(KATANA LAND SANWARDANA WATTA)
• The land in Katana has high growth potential for
logistics and related development activities. With easy access to the
Bandaranaike International Airport and proximity to the highway entrance, the
land has favorable infrastructure facilities for logistics-related activities.
·
Estimated Value:
o USD
4.19 million
·
Terms of Allocation
o On
a 50-year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(18th Mile Pole, Katunayake)
• This land has high development potential for
logistics and associated development activities and has favorable
infrastructure facilities for logistics-related activities with easy access to
the Bandaranaike International Airport and proximity to the highway entrance.
·
Estimated Value:
o USD
2.37 million
·
Terms of Allocation
o On
a 50-year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(The
land at Ekala)
• The land in Ekala has high development potential for
logistics and related development activities. The land is adjacent to the
Access Logistics Park, which was granted by UDA for logistics developments a
few months ago. With easy access to the Bandaranaike International Airport and
proximity to the highway entrance, the land has favorable infrastructure
facilities for logistics-related activities.
•
Terms
of Allocation: On a 50-year lease basis
•
Planning
Authority: Urban Development Authority (UDA))
§ Land
01
o Land
size: 4.8562Ha Estimated value: USD 3.34 Mn
§
§ Land
2.1
o Land
size: 0.4046Ha. Estimated value: USD 0.37 Mn
§ Land
2.2
o Land
size: 0.4046Ha. Estimated value: USD 0.37 Mn
§ Land
2.3
o Land
size: 0.8700Ha. Estimated value: USD 0.78 Mn
(IT Based Development)
(
Trace
Expert City – Colombo 10)
•
Located
near the popular Trace Expert City, an innovation-focused workplace complex,
the property has been found to be well-suited for an infrastructure development
project aimed at serving the IT sector. Moreover, the area is already crowded
with global companies like Code-Gen International, Calci Technologies, Orel
Corporation, etc. This project will be implemented as Phase 03
of
the Trace Expert City project..
•
The location benefits from its proximity to Colombo's Central Bus Station and
the Central Railway Network, which will enable significant passenger traffic,
which is important considering the intensive IT services sector.
·
Estimated Value:
o USD
4.27 Mn (35 years)
·
Terms of Allocation
o 35-/99
years lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(Educational Development)
(Educational Development
Project – Narahenpita)
• The land is located in the south-eastern corner
of Colombo city, surrounded by the Kelaniya Valley Railway, a rich road network
and several government institutions, the National Blood Bank, the Census
Department, the Ministry of Labour and major private hospitals in the country.
•
Therefore, considering its potential and location, UDA expects to provide the
land for educational institution development projects.
o Estimated
Value: USD 6.83 million
o Terms
of Allocation: 99 years lease
o Planning
Authority: Urban Development Authority (UDA)
(Entertainment)
(Operation
of Beddagana Wetland Park Kotte)
• The Petagana Wetland Park in Kotte was created as
an example of the wise use of wetlands while strictly protecting existing
wetland habitats. The parks will create a place amidst the wetlands for
educational, eco-based recreation for locals and foreigners. In addition, two
conference halls and classroom spaces will provide research opportunities and
environmental education for adults, research students and professionals in the
environmental field.
• The Urban Development Authority has proposed to
outsource the operation and management rights of the Petagana Wetland Park,
while promoting wise use activities and preserving its natural habitats and
ecological value.
·
Estimated Value:
o USD
0.01 million
·
Terms of Allocation
o On
a 10-year annual lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(Lake
Gregory Theme Park – Nuwara Eliya)
•
Located
on the northern side of Gregory Lake, this land has been earmarked by the Urban
Development Authority for a theme park development project. Nuwara Eliya has a
panoramic view with excellent potential for a recreational development project,
being a colonial hill station rich in heritage and history with a beautiful
landscape and temperate climate.
•
The
property is within walking distance to all amenities and major transport links.
The property is easily accessible to utility services such as water,
electricity, sewerage and drainage connections, and Nuwara Eliya has extensive
potential to attract many international and local tourists..
·
Estimated Value:
o USD
0.05 Mn (Annual Lease)
·
Terms of Allocation
o On
a 30-year annual lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(Agriculture &
Food Processing)
(Seaweed
farming – Jaffna)
•
The
aim of the project is to introduce seaweed farming as a sustainable livelihood
for fishing communities in Jaffna. The project focuses on establishing
commercially viable seaweed farms by promoting seaweed farming as a sustainable
alternative to traditional fishing..
• NAQDA assists the Ministry of Fisheries in issuing
operating licenses and monitoring project activities, and the relevant
Divisional Secretariat and the Commissioner General of Lands Department, in
consultation with the Forest Department, provide government lands on lease
basis under the Land Development Ordinance.
ü The
following primary activities are expected to be carried out in phases.
1)
Sector and community consultation
2)
Define potential water area and aquaculture cluster formation
3)
Obtain lease from the Department of Land Commissioner General
4)
Obtain permits for implementation of the project
5)
Design the project
6)
Establish cultural facilities and start aquaculture operations
7)
Harvest and marketing planning
·
Estimated Value: USD 1Mn
·
Allocation Terms Private Public Partnership (PPP)
·
Planning Authority.Urban Development Authority
(UDA)
(State
owned enterprises)
HOTEL
DEVELOPERS LANKA
(Partnership Finder)
(Port City)
• Port City Colombo is a
brand new urban development built as an extension of the Central Business
District of Colombo, the vibrant commercial capital of Sri Lanka. Spanning 269
hectares of reclaimed land from the sea, Port City Colombo will be a premier
residential, retail and commercial destination, offering an unparalleled
master-planned city on the warm waters of the Indian Ocean. The development
comprises 5 distinct complexes including the Financial District, Central Park
Living, Island Living, The Marina and International Island.
(Sri Lanka Institute of Nanotechnology (SLINTEC)
• A pioneer in nano and advanced technology research
in Sri Lanka. SLINTEC is Sri Lanka’s first public-private research institute
and has made significant progress as a catalyst for change in the scientific
field for over a decade.
• SLINTEC has focused its resources on developing
technologies that address many pressing issues in developing countries like Sri
Lanka, such as food security, affordable and clean energy, safe drinking water
and sustainable economic development.
(Sustainable Development Goals (SDG)
·
• The SDG
Investor Map is a market intelligence tool that helps the private sector
identify investment themes in emerging markets. The map provides the insights
and tools the private sector needs to leverage their investments in the SDGs,
such as market opportunities, return on investment, potential sustainability
benefits, and associated risks.
·
• Setting
up a business in another country can be overwhelming without the right
guidance. As you explore international business, BOI Sri Lanka offers a team of
industry experts to support you through every stage of your investment or
business cycle – from company registration to your first export. Whether you
are looking for new ways to invest, looking to set up a new business unit or
want to incorporate a business, we have you covered..
Classifications
of BOI Projects
Projects
Operating Under Section 17
of the BOI Act
•
Under
Section 17 of the BOI Act, the BOI has the authority to
approve projects and enter into agreements with entities that are exempt from
laws such as the Customs Act, subject to investment limits or any other
specific requirements.
•
Under
the Internal Revenue Code No. 24 of
2017,
17
projects
that meet the minimum investment threshold of US$ 3
Mn
are eligible for advanced capital payments. Special
incentives in the form of. PAL and CESS will be provided for projects investing
more than USD 50 Mn. Exceptions during the project implementation period.
• It can be 100% foreign investment or joint
venture with local collaboration. The proposed foreign investments should be
implemented from funds channeled through Inward Investment Account (IIA).
Schemes operating under Section 16 of the BOI Act (under the normal law of
the country)
• Schemes approved under Section 16 of the BOI Act facilitate foreign
investment without any financial incentives
• These schemes are subject to the normal laws of the country and BOI will
assist these companies in the following:
1) Entry of foreign investment
2) Formation of a new company with
foreign shares
3) Transfer/Issue of new shares in an
existing non-BOI company to foreign investors
4) Provision of visa recommendations.
• The minimum investment limit for Section 16 is US$250,000. This can be
100% foreign investment or a joint venture with local cooperation Theproposed
foreign investments must be implemented from funds channeled through the Inward
Investment Account
(IIA)
BOI
fees & charges
Registering your business
·
Step 1
• The first step is to verify the existence of the proposed
name of the company as per Section 6 and 7 of the
Companies Act No. 7 of 2007.
·
Step 2
• Application for registration of the proposed company by
submitting the Articles of Association along with the forms as detailed below.
• ROC Online Registration – Provides the type and name of
the company, registered address of the company, details of initial directors,
secretary/s and shareholders.
·
Form 18 – Approval of Directors
·
Form 19 – Approval of Secretaries
• In case the company falls under BOI regime, the draft
Articles of Association should be submitted for the approval of the Managing
Director (Legal), BOI of the company.
DEPARTMENT OF THE REGISTRAR OF COMPANIES
400, D.R.Wijewardena Mawatha, Colombo
10, Sri Lanka
Tel: 0094-11-2689208 , 0094-11-2689209
Fax: 0094-11-2689211
e-mail:info@drc.gov.lk
website: www.drc.gov.lk
No comments