• Legal Framework

    In-depth coverage of the local legal framework for business is an integral part of OBG’s analysis. Working in partnership with a leading local law firm, we review foreign investment laws, ownership restrictions, requirements for local partners and labour laws, among other topics.
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Sharjah has long played an important economic and cultural role in the UAE, and boasts one of the most diversified economies by regional standards, with no individual sector accounting for more than 20% of GDP.

 

The Immigrants and Emigrants Act requires non-nationals entering Sri Lanka to obtain a visa unless exempted, although there are provisions for nationals of certain countries to enter without a visa for tourism or business purposes and to receive endorsement upon arrival. Administratively, an electronic travel authorisation (ETA) scheme is in...

 

Following on from 2016 – which saw a number of important legislative reforms – 2017 was another particularly significant year in which several changes were legislated or initiated by Parliament. The two major developments in the legal landscape enacted by Parliament were the passage of the Inland Revenue Act and the Foreign Exchange Act.

Chapter | Legal Framework from The Report: Sri Lanka 2018

This chapter examines Sri Lanka’s legal system, focusing on the updated Inland Revenue Act, the establishment of a new public-private partnership agency, the Foreign Exchange Act and other key areas. It also contains a legal framework viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.

As the government continues its expansive reform agenda with Vision 2025, Sri Lanka’s economy is expected to record moderate improvements in 2018.

 

No major economic legislation was established in 2017 as policymakers remained focused on completing the implementation of a new investment framework, which was enacted on April 1, 2017 with the New Investment Law.