SRI LANKA PEO & EOR
Hire in Sri Lanka without a local entity today
As a Global PEO & EOR service provider, we pride ourselves on our global reach, in-country knowledge, and ability to swiftly and efficiently mobilize workers around the world. Our robust PEO/EOR covers everything from global HR, payroll, compliance, in-country support, immigration, visas, and more.
Get started and hire in Sri Lanka today with Procorre Global.
DID YOU KNOW
- Sri Lanka is most known for its tourism, tea, textiles, apparel and mineral fuels.
- In the country, they have a strong culture of politeness, and it is considered rude and looked upon negatively to raise your voice.
- In total, the country provides businesses operating there, access to nearly 25% of the world’s population.
SRI LANKA PEO Services
A place of opportunity for business and entrepreneurs
Working in SRI LANKA
The country is ideally situated near the shipping routes connecting South Asia, Pacific, America, the Far East and Europe. This handy location makes it ideal for setting up and doing business in the country, as it provides easy entry in new markets via its shipping routes.
Regulations in Sri Lanka mean employees should not exceed eight hours per day, and in any one week, working hours should not exceed 45.
Employees in Sri Lanka all receive guaranteed benefits required by law. Regulations for holiday and sick pay mean that someone who has completed a year of continuous service in the public or private sector, is entitled to a sick leave of seven days with full remuneration. Annual leave regulations state individuals are allowed to take 14 days holiday a year, within full remuneration.
Visas and Taxation
All residents of Sri Lanka (anyone who’s been in the country for over 183 days) are legally obligated to pay income tax. The income tax rate for an individual is between 4% and 24%, depending on the level of profits and income earned in a given year of assessment.
The main visa a foreigner can use to enter the country for business purposes, and stay for over 30 days and up to a year, is the ‘work residency visa.’
Expanding your business into Sri Lanka can seem like a daunting and time-consuming process. However, with Procorre Global as your PEO, we can provide you with a cost-effective and transparent solution that will get you set up in country and into new markets within a matter of days.
Sri Lankan cuisine is a delightful fusion of flavors, combining local ingredients like rice, coconut, and spices to create delicious dishes like curry and hoppers. Buddhism, followed by the majority of the population, plays a significant role in Sri Lankan culture, with numerous temples, stupas, and religious festivals dotting the landscape.
Additionally, Sri Lanka’s cultural calendar is adorned with vibrant celebrations, including the Sinhala and Tamil New Year, Vesak, and the Kandy Esala Perahera, where beautifully adorned elephants parade through the streets. The warm hospitality of the Sri Lankan people, their love for cricket, and their deep-rooted sense of community make the country’s cultural fabric truly captivating and memorable.
Impacts from COVID-19
Like many other countries, Sri Lanka faced significant economic challenges due to the pandemic. However, the pandemic also spurred innovation and digital transformation, with businesses adopting remote working, e-commerce, and online services to adapt to the new normal.
The government implemented stimulus packages and support measures to mitigate the impact on businesses and encourage recovery. As vaccination efforts progress and restrictions gradually ease, there is hope for a gradual revival of business activities in Sri Lanka.