Small restaurant business in Sri Lanka (help)

You will need a business residence visa. It is possible to set up a limited company that is 100% owned by you that you could then use to obtain the relevant licences from the local municipality. I would start by looking for a local accountant preferably through recommendations. You don’t say where in the country you are? We are based in Hikkaduwa.

Need to set up a company and then get the visa through the company as a director.

I am assuming that hospitality ( precisely restaurant is your line of business )

And now on the “local guy giving you space”

1) get a solicitor to draw up a contract. Don't use the solicitor recommended by the local guy even if he says “ I know him for a long time and he is taking care of my other businesses. I don't know where you are but instruct a Colombo solicitor.

2) the hotel may have  already the licence from the tourist board to sell alcohol and to operate  so investigate that avenue.

3) don't need a licence to set up a restaurant but you must tell your local authority that you are opening the whole operation is cheap and straightforward as long as you are familiar with food safety and employees and customers welfare requirements.

4) I don't know which country you are from but keep in mind that “good faith, honesty and clarity “ normally applied in any business transaction are very vague here, especially when “ local guy” is mentioned.

5) there is also a tendency to partner with a foreigner, also very common that the foregneir has been pushed out once the business was up and running.

6) ask yourself why a local guy with a big hotel would give the restaurant to you?

Considering the low running cost for staff compared to Europe, why? Why?

Don't give any money, if he is giving the restaurant to you, why he is not doing it himself?

Who owns the concept?

Did the restaurant work before?

Is it open now? If yes, how many covers per night ?

Do you speak the local language?

He may need someone to pay for his energy bill.

Ask yourself WHY??????

Good luck and get a good solicitor

Ps: ask yourself why again!!!

@ViatronMac The restaurant will be located in midigama. I need to have a good accountant yes.. Do you know how to find one?

Your not to far from Galle and there are a couple in Galle Fort one of which we used to setup our limited company with bank accounts etc and acts as company secretary for filing returns every year I will try and on you my contact details.