News and insights
03 November 2025
E–ALERT: BILLS OF EXCHANGE (AMENDMENT) ACT, NO. 13 OF 2025
The Bills of Exchange (Amendment) Act, No. 13 of 2025 marks a significant development in SriLanka’s financial and commercial landscape. The amendment introduces criminal sanctions for dishonored cheques, recognises electronic transmission of negotiable instruments, and strengthens safeguards for #bankers and businesses through clearer rules on cheque crossing. These reforms modernise the Bills of Exchange framework after more than six decades, promoting greater accountability and facilitating digital efficiency in commercial transactions. Read our latest e-alert, prepared by Dushyantha Perera (Partner – Head of Corporate & Commercial Law) and Chenelle Fernando (Associate – Corporate & Commercial Law), for an in-depth analysis of the key changes and their practical impact.
26 July 2025
𝗦𝗿𝗶 𝗟𝗮𝗻𝗸𝗮’𝘀 𝗙𝗗𝗜 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲 – 𝗝𝘂𝗹𝘆 𝟮𝟬𝟮𝟱 𝗨𝗽𝗱𝗮𝘁𝗲
We are pleased to release the latest edition of our Foreign Direct Investment (FDI) Briefing Note, providing a consolidated overview of key legal and regulatory aspects impacting FDI into SriLanka.
10 June 2025
E-Alert: Sri Lankan Government Proposes Amendments to National Minimum Wage Act
The GoSL moves to amend the National Minimum Wage for both monthly and daily paid employees.
28 January 2025
Sudath Perera Associates explains latest Section 22 order easing Sri Lanka’s outward remittance limits for capital transactions
Outward remittances from Sri Lanka, for the purposes of capital transactions, are primarily governed by the provisions of the Foreign Exchange Act No. 12 of 2017 ("FEA"), as well as various regulations, directions and orders issued thereunder. In July 2020, as a response to the country's emergent forex crisis, the GoSL imposed certain exchange control restrictions under Section 22 of the Foreign Exchange Act No. 12 of 2017 (FEA). These have since been extended or renewed every six months but since 2022, have gradually eased to support outward investment and business expansion, taking into account Sri Lanka's improved macroeconomic conditions and foreign exchange reserves. The latest 'Section 22' Order, issued on December 19, 2024, largely mirrors previous relaxations, allowing increased remittance thresholds for Outward Investment Accounts (OIAs) and Business Foreign Currency Accounts (BFCAs). Notably, however, it also introduces new conditions for certain types of transactions. Please refer to our e-alert below, prepared by Hafsa Ifthikar (Partner) and Sithma Emmanuel (Associate), from the firm's Corporate & Commercial Law Department, for further information.
07 January 2025
Sudath Perera Associates highlights opening of Sri Lanka’s Geographical Indications register for official GI protection
Geographical Indications Register Now Open in Sri Lanka - The National Intellectual Property Office (NIPO) of Sri Lanka has officially commenced registration for GIs, marking a significant step for producers, associations, and organizations seeking to protect the unique hashtag#geographical identity of their goods. Please refer to this e-alert prepared by Himani Perera (Partner - Head of Intellectual Property) and Chathurika Rupasinghe Soyza (Partner - Head of Trademarks) from the firm's Intellectual Property Department, for more information.
31 July 2024
Briefing Note: FDI in Sri Lanka, July 2024
The 2024 version of our FDI Briefing Note has now been published, with updates on Sri Lanka's tax laws, preferential trade arrangements, and the Colombo Port City.
29 October 2024
Sudath Perera Associates explains new ‘Reciprocal Recognition, Registration and Enforcement of Foreign Judgments Act No. 49 of 2024’
Sri Lanka’s prevailing framework for reciprocal enforcement of foreign judgments is set out in the Reciprocal Enforcement of Foreign Judgments Ordinance No. 41 of 1921, a colonial law with limited application to monetary judgments from the superior courts in the UnitedKingdom and certain other commonwealth countries. As part of the country’s ongoing legal modernisation program, the government has recently enacted the 'Reciprocal Recognition, Registration and Enforcement of Foreign Judgments Act No. 49 of 2024', establishing a broader framework for reciprocal recognition and direct enforcement of a wide range of foreign judgments (including those that relate to non-monetary judgments/orders, such as specific performance, dealings with movable and immovable assets, and the dissolution or annulment of marriages). The Act is expected to be brought into effect on a future date determined by the Minister of Justice, by an order published in the government gazette. Please refer to our latest e-alert, prepared by Nipuni Samarasekara (Partner) and Sithma Emmanuel (Associate) from the firm's Corporate & Commercial Law Department, for a side-by-side comparison and commentary on the key differences between these two laws.
18 October 2024
Sudath Perera Associates outlines latest relaxations on Sri Lanka’s outward remittance restrictions for capital transactions under Section 22 of the Foreign Exchange Act
Outward remittances from Sri Lanka, for the purposes of capital transactions, are primarily governed by the provisions of the Foreign Exchange Act No. 12 of 2017 ("FEA"), as well as various regulations and directions issued thereunder. Since July 2020, however, the GoSL has placed certain foreign exchange restrictions on capital transactions, pursuant to Section 22 of the FEA (which allows orders restricting or regulating such remittances to be issued by the Minister of Finance, if the Central Bank considers that there is a potential threat to the financial stability of the country). Such orders have since been consistently extended or re-issued every 6 months, on the basis of the forex crisis prevailing in the country, but with a gradual easement of the various restrictions to enable certain outward investment and business expansion activities by Sri Lankan residents. The latest such Section 22 Order was published on 18th June 2024 and includes further relaxations for businesses seeking to invest outside of Sri Lanka, including for verticalintegration or diversification purposes, as well higher outward remittance thresholds from 'Outward Investment Accounts' (OIAs) and 'Business Foreign Currency Accounts' (BFCAs). Please refer to our e-alert below, prepared by Hafsa Ifthikar (Partner) and Alec Weerasinghe (Senior Legal Assistant) from the firm's Corporate & Commercial Law Department, for further information.
27 September 2024
Sudath Perera Associates highlights September 2024 increase in Sri Lanka’s national minimum wage rates
The national minimum wage rates have been increased with effect from September 2024, through amendments to the National Minimum Wage of Workers Act of 2016. Please refer our latest e-alert, prepared by Thidas Herath (Partner/ Head of Department) and Anjalie Fonseka (Associate) from the firm's Labour & Employment Relations Department, for more information.
27 September 2024
Sudath Perera Associates outlines key compliance obligations under Sri Lanka’s Food Act No. 26 of 1980 for F&B businesses
The provisions of the Food Act No. 26 of 1980 (as amended) impose various compliance obligations on manufacturers, importers, distributors and other traders involved in the food & beverage industry in Sri Lanka. Failure to comply can have serious legal repercussions for these businesses, including a potential cancellation of their business licenses and registrations. Please refer to our Briefing Note on the Food Act, prepared by Kasun Chamara Munasinghe (Partner) from the firm's Regulatory & Compliance practice group, for more information.