If your company was incorporated before the rules came into force on 30 March 2026 and you have not yet submitted your beneficial ownership details, file Form BO 07 on the BO portal by this date. Late filers may face penalties.
What has changed
Under the Companies (Amendment) Act No. 12 of 2025 and the Companies (Beneficial Ownership) Regulation No. 1 of 2026, every company must identify the individuals who ultimately own or control it, and report them to the Registrar of Companies. The regime took effect on 30 March 2026.
The reform brings Sri Lanka in line with international anti-money laundering standards. It also means banks, regulators and investigators can trace ownership through holding companies and nominee arrangements to the real people behind them.
Which form applies to your company?
| Your situation | What to file |
|---|---|
| Incorporated before 30 March 2026 | Form BO 07, the initial beneficial ownership submission for existing companies |
| Incorporated on or after 30 March 2026 | Form BO1 (beneficial ownership) and Form BO5 (Authorized Person), filed after paying the incorporation fees |
For new companies this step is part of incorporation. If BO1 and BO5 are not submitted, the incorporation will be resubmitted, which can delay the start of your business.
What information you will need
For each beneficial owner, prepare the full name, identification details, address, and the nature of their ownership or control. You will also need to name an Authorized Person for the company. If your structure includes holding companies, trusts, nominees or several layers of shareholders, work out who the individuals at the top are before you start the form.
How to submit
- Open the BO portal. Go to bo.drc.gov.lk.
- Log in with your eROC credentials. Choose Login Type: Company User.
- Select your scenario. Choose existing company (BO 07) or new incorporation (BO1 and BO5).
- Complete and submit the form. Check every name and identification number before you submit.
Official resources
Common questions
Does this apply to my company if it was registered years ago?
Yes. Companies incorporated under the Companies Act No. 7 of 2007 or any former law must make the initial submission on Form BO 07.
What if I miss the deadline?
The Department of Registrar of Companies has warned of possible penalties. File as soon as you can and contact the Department if you have questions about your position.
Need a hand getting it right?
Hulugalle Wikramanayake & Company has supported Sri Lankan businesses with auditing, accounting and financial consulting since 1984. We are a registered partnership (Registration No. W 9701) and an approved Audit Firm recognized by The Institute of Chartered Accountants of Sri Lanka. We can help you identify your beneficial owners and prepare your submission.
Contact our teamThis article is a general summary and is not legal advice. Refer to the official regulation and the BO portal for authoritative requirements.
