Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right route - the Sri Lankan base, the readiness file, or a paired licensed hub - and leads it to a compliant launch, including banking and payment rails.
Get a crypto license in Sri Lanka.
Sri Lanka has no crypto law and no licence - and we say so plainly. The Central Bank has warned for years that crypto is unregulated. Movement began in late 2025 with a mandatory FIU survey of virtual asset service providers, and a Concept Paper for regulation went to the national AML/CFT committee on 12 February 2026. Nothing is gazetted yet. We structure the honest route.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Sri Lanka in brief
No law yet - the first formal steps are on record.
Sri Lanka does not have a crypto law, and no one can sell you a licence there. The Central Bank of Sri Lanka has warned for years that virtual currencies are not legal tender and are unregulated, and it has issued no authorisations. What changed is that the state started counting. In late 2025 the Financial Intelligence Unit - established under the Financial Transactions Reporting Act No. 6 of 2006 - launched a mandatory survey of every virtual asset service provider operating in the country. That survey is the first formal identification of the sector. Then, on 12 February 2026, the Deputy Minister of Digital Economy presented a Concept Paper for regulating virtual assets to the National Coordinating Committee on AML/CFT, with the country's third AML/CFT mutual evaluation starting in March 2026 adding pressure to build a framework. A roadmap has been discussed publicly through 2026. Nothing has been enacted. Nothing is gazetted.
What works in the meantime is a compliance structure rather than an authorisation. A Sri Lankan company under the Companies Act No. 07 of 2007, anti-money-laundering practice built to the FTRA standard, the FIU survey answered accurately if you operate in the country - being on the record properly matters when the regulator that ran the survey later writes the rules - and the foreign-exchange overlay of the Foreign Exchange Act No. 12 of 2017 respected in how flows are designed. Corporate tax is 30%, so the structure is modelled deliberately. Around that we keep a readiness file on licence-grade patterns, track the Concept Paper as it moves, and pair a licensed hub where your model needs a standing permission now. We build that end to end.
No crypto law in Sri Lanka - honestly. The Central Bank's warnings stand. What exists: a mandatory FIU survey of the sector from late 2025 and a Concept Paper presented on 12 February 2026. Nothing is gazetted.
The route is a company under the Companies Act 2007 plus FTRA-grade AML, with the survey answered accurately and a readiness file for the framework. Corporate tax is 30%, so we model it deliberately.
The honest picture
The company route - readiness for the framework.
Two workstreams, honestly scoped: the Sri Lankan company plus AML structure that operates today, and the readiness that converts it as the drafting stage becomes law.
The company + AML route operates today; a readiness file converts it if the drafting stage becomes law.
01 - COMPANY + AML · TODAY
On the record, done properly
The working route: a Sri Lankan company under the Companies Act 2007, AML practice to the FTRA standard, the mandatory FIU survey handled accurately, and banking that respects the foreign-exchange rules.
The working route: a Sri Lankan company under the Companies Act 2007, AML practice to the FTRA standard, the mandatory FIU survey handled accurately, and banking that respects the foreign-exchange rules.
- ✓Sri Lankan company under the Companies Act 2007
- ✓AML/CFT practice to FTRA No. 6 of 2006 standards
- ✓FIU survey response - accurate and on time
- ✓KYC, monitoring and record-keeping
- ✓Foreign Exchange Act 2017 respected in the flows
- ✓Banking arranged on full disclosure
02 - READINESS FOR THE FRAMEWORK
Concept Paper on the tablePrepared as the framework forms
The Concept Paper of 12 February 2026 is a proposal, not a law - but it is the first one on record. The readiness file, built on licence-grade patterns, converts the structure into an applicant if Sri Lanka enacts a framework.
The Concept Paper of 12 February 2026 is a proposal, not a law - licence-grade compliance now means first in line if one passes.
- ✓Mandatory FIU survey - sector identified
- ✓Concept Paper presented 12 February 2026
- ✓AML/CFT mutual evaluation from March 2026
- ✓Compliance built to licence-grade now
- ✓Roadmap and drafts tracked as they move
- ✓Paired licensed hub meanwhile
Costs and timelines are confirmed for your case before any work begins. Sri Lanka has no crypto licence and no enacted framework - the company and AML route is the real path today, and we pair a licensed hub where your model needs a standing permission now.
Why Sri Lanka
The drafting stage, approached honestly.
No law yet - but a sector formally identified, a Concept Paper on the table and a clear AML baseline to build against.
✓
Movement after years of warnings
For a decade the Central Bank's position was a series of warnings. Since late 2025 there are dated, formal steps instead: a mandatory FIU survey of the sector and a Concept Paper presented on 12 February 2026. The drafting stage is real.A survey and a Concept Paper - dated, formal steps.
✓
A defined first touchpoint
The FIU survey is mandatory for anyone providing virtual-asset services in the country - exchange, transfer, safekeeping. Answering it accurately puts you on the record with the body most likely to shape the coming rules.The mandatory FIU survey - be on the record properly.
✓
The AML anchor is real
The Financial Transactions Reporting Act No. 6 of 2006 and the FIU give a standard that exists today, and the third mutual evaluation running from March 2026 raises the bar further. Meeting it is what makes a structure bankable.FTRA 2006 + mutual evaluation from March 2026.
✓
A digital-economy push
The Concept Paper came from the Ministry of Digital Economy - a portfolio created to modernise the sector. The government body proposing crypto regulation is the one tasked with growing the digital economy, which shapes what the rules will look like.The paper came from the Ministry of Digital Economy.
✓
Direction of travel
A regulatory roadmap has been discussed publicly through 2026, with the mutual evaluation adding a deadline the state cannot ignore. Building to licence-grade now means moving first if the framework is enacted.A roadmap discussed through 2026; nothing enacted.
✓
Honest guidance on scope
Our value here is candour. We will not sell a «Sri Lankan crypto licence» that does not exist - we build the compliant company and the readiness file, and pair a licensed hub where your model needs one now.No selling a licence that does not exist.
How it compares
How Sri Lanka differs from other routes.
Sri Lanka is at the drafting stage - a sector surveyed and a Concept Paper filed, but no law and no licence. The honest comparison is below.
Sri Lanka vs other jurisdictions
| Feature |  Sri Lanka | Other jurisdictions |
|---|---|---|
| Regime | No law - drafting stage | Standing VASP licences |
| Standing licence | None - pair elsewhere | Often available |
| First formal step | FIU survey + Concept Paper | Licence applications |
| Corporate tax | 30% | Ranges widely |
Regime
Sri LankaNo law - drafting stage
Other jurisdictionsStanding VASP licences
Standing licence
Sri LankaNone - pair elsewhere
Other jurisdictionsOften available
First formal step
Sri LankaFIU survey + Concept Paper
Other jurisdictionsLicence applications
Corporate tax
Sri Lanka30%
Other jurisdictionsRanges widely
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Sri Lanka | Company + AML (no law yet) | 30% corporate | FIU survey, framework drafting |
 India | FIU-IND registration (no dedicated licence) | 30% VDA + 1% TDS | PMLA AML reporting entity |
 Pakistan | PVARA licence (Virtual Assets Act) | ~29% + super tax | New regime, NOC by 5 Sep 2026 |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
Sri LankaLicense typeCompany + AML (no law yet)
Taxation30% corporate
RequirementsFIU survey, framework drafting
IndiaLicense typeFIU-IND registration (no dedicated licence)
Taxation30% VDA + 1% TDS
RequirementsPMLA AML reporting entity
PakistanLicense typePVARA licence (Virtual Assets Act)
Taxation~29% + super tax
RequirementsNew regime, NOC by 5 Sep 2026
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
Doing it properly
What the compliant structure contains.What the compliant structure contains.
No law does not mean no standards - the FTRA obligations are real and the FIU is already counting the sector. The checklist below is what we build.
01
Sri Lankan company - incorporated under the Companies Act No. 07 of 2007 with clean governance and transparent ownership to UBOs.
02
Honest scope assessment - a clear read on what can run from Sri Lanka today and what needs a licensed hub alongside.
03
AML/CFT practice - KYC, EDD, monitoring and reporting built to the Financial Transactions Reporting Act 2006 standard, with a named compliance officer.
04
FIU survey handling - the mandatory VASP survey answered accurately and on time, so the record starts clean.
05
Foreign-exchange discipline - flows designed around the Foreign Exchange Act No. 12 of 2017, which the Central Bank has cited against crypto purchases.
06
Custody and systems documentation - wallet architecture described to international standards.
07
Readiness file - governance, AML and custody built to licence-grade for the framework as it is enacted.
08
Legislative monitoring - the Concept Paper, the roadmap and any draft bill tracked, the structure updated as they move.
09
Banking file - accounts arranged on full disclosure, matched to the flows.
10
Clean books - accounting a bank and a future regulator read as an asset.
11
Paired licence where needed - a standing permission in a licensed hub, sequenced with Sri Lanka.
01
Sri Lankan company under the Companies Act 2007.
02
Honest scope assessment - local base or paired hub.
03
AML practice to the FTRA 2006 standard.
04
FIU survey answered accurately and on time.
05
Flows designed around the Foreign Exchange Act 2017.
06
Custody and systems documentation.
07
Licence-grade readiness file for the framework.
08
Concept Paper and drafts tracked.
09
Banking file on full disclosure.
10
Clean books from day one.
11
Paired licence where a standing permission is needed.
Reflects Sri Lanka's general company law and AML framework (Companies Act 2007, FTRA 2006) as of 2026. No virtual-asset law has been enacted and nothing is gazetted - in writing, not in small print.General company law + AML (Companies Act 2007, FTRA 2006), as of 2026. No law enacted; nothing gazetted.
How it works
From first call to a compliant structure.
01
Strategy and honesty
The real status - what runs from Sri Lanka today, what needs a paired hub - and the tax, FX and banking plan, fixed in writing before anything incorporates.Scope, tax, FX and banking - in writing.
02
Sri Lankan company
Incorporation under the Companies Act 2007 with clean governance and transparent ownership - the base the AML route needs.Companies Act 2007, clean governance, UBOs.
03
AML and the FIU survey
The FTRA programme with a named compliance officer, and the mandatory survey answered accurately - built to standard.FTRA programme; survey answered accurately.
04
Readiness and pairing
The licence-grade file for the coming framework, and a paired permission in a licensed hub where needed now.A file for the framework; a paired hub if needed.
05
Banking and launch
Accounts arranged on disclosure, FX rules respected; the structure live and honestly scoped.Accounts on disclosure; FX rules respected.
Quick facts
Dedicated crypto lawNone - drafting
Licensing bodyNone exists yet
FIU VASP surveyMandatory, late 2025
Concept Paper12 Feb 2026
Mutual evaluationFrom March 2026
RouteCompany + AML
Corporate tax30%
VAT18%
Anyone selling a «Sri Lankan crypto licence» in 2026 is selling paper - nothing is enacted, nothing is gazetted. The honest products are the compliant company, the readiness file and a paired licensed hub.
On the ground in Sri Lanka
Run from our Dubai office, with Sri Lankan counsel.
Prifinance - Sri Lanka desk
Colombo · Sri Lanka
Colombo, Sri Lanka
01
Sri Lankan incorporation
Company formation under the Companies Act 2007 with clean governance - the corporate layer the AML route sits on.Companies Act 2007, clean governance.
02
AML and the FIU survey
A programme to the FTRA standard, and the mandatory survey answered accurately - the record with the FIU starts clean.FTRA programme; the record starts clean.
03
FX-aware banking
Accounts and flows designed around the Foreign Exchange Act 2017, on full disclosure - rails that do not trip the rules.Flows built around the 2017 Act, on disclosure.
04
Readiness and pairing
A licence-grade file for the coming framework, and an honest read on where a licensed hub should sit alongside meanwhile.A file for the framework; a hub alongside.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Sri Lanka.
No crypto-specific rules - company profits carry the standard 30% corporate rate that has applied since the October 2022 reform, with VAT at 18% since January 2024, so the position is planned deliberately from the start.
30% corporate rate
The standard corporate income tax rate has been 30% since the October 2022 tax reform that followed the debt crisis. Not a low-tax base - a figure we model honestly rather than around.Standard since the October 2022 reform.
VAT at 18%
The VAT rate rose to 18% on 1 January 2024. How it maps onto crypto fee income depends on the activity - we plan the position rather than assume an exemption.Since 1 January 2024 - mapped, not assumed.
No crypto-specific rules
Crypto income falls under the general Inland Revenue Act No. 24 of 2017. Positions are documented so they hold with the IRD - and later with whatever framework the Concept Paper becomes.General Inland Revenue Act - positions documented.
The FX overlay matters
The Foreign Exchange Act No. 12 of 2017 governs cross-border flows, and the Central Bank has cited it against crypto purchases. We design the flows around it deliberately, on full disclosure.Act No. 12 of 2017 shapes cross-border flows.
The rate shapes structure
At 30%, Sri Lanka is the operating base for models that need presence there - a market entity, a development hub. For internationally-facing activity we model whether it is the heart or one honest node.Sri Lanka as the heart, or one honest node.
Records serve both
The FTRA record-keeping the route requires also underpins the tax position - compliance-grade books double as tax-office-grade books.Compliance-grade books serve tax too.
Tax summary
Corporate income tax30%
VAT18% (since Jan 2024)
Crypto-specific rulesNone - general system
FX rulesAct No. 12 of 2017 applies
CurrencyLKR
FrameworkConcept Paper stage
*As of 2026. At 30% with an FX overlay, the position needs planning - we model the structure honestly around both.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the AML programme to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the structure itself: Sri Lankan company, AML/KYC pack, the FIU survey response and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a clean, honestly-scoped business.
Follow Prifinance
Active across our channels.
Sri Lanka · drafting stage
Launch your crypto project in Sri Lanka with expert support.
Full-service setup - the company and AML route today, readiness for the framework the Concept Paper may become.
Get a consultation →Free legal opinion
Is Sri Lanka the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: whether the Sri Lankan route fits, or which paired structure suits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Sri Lanka crypto route, answered honestly.
Is there a crypto licence in Sri Lanka?+
No. There is no virtual-asset law, no licensing body and nothing gazetted. The Central Bank has warned for years that crypto is unregulated and not legal tender. Anyone selling a «Sri Lankan crypto licence» in 2026 is describing something that does not exist.
What changed in late 2025?+
The Financial Intelligence Unit launched a mandatory survey of every virtual asset service provider operating in the country - exchange, transfer, safekeeping and related services. It is the first formal identification of the sector, and for anyone operating there, the first regulatory touchpoint.
What is the Concept Paper?+
A proposal for regulating virtual assets, presented by the Deputy Minister of Digital Economy to the National Coordinating Committee on AML/CFT on 12 February 2026. It is the first formal step toward a framework - a paper, not a law, and we say so.
So is operating legal?+
Crypto is not banned - it is unregulated, and the Central Bank has said users act at their own risk. A properly governed company with real AML practice, an accurate FIU survey response and FX-compliant flows is the defensible way to be present. The standards are real even without a law.
When will there be a law?+
No date exists. The public record is the survey, the Concept Paper of 12 February 2026 and a roadmap discussed through 2026 - with the third AML/CFT mutual evaluation, running from March 2026, pressing the state to act. We track the drafts and keep your structure conversion-ready.
How are crypto companies taxed?+
A 30% corporate rate, in place since the October 2022 reform, and VAT at 18% since January 2024. There are no crypto-specific tax rules - income falls under the general Inland Revenue Act, and the foreign-exchange rules shape how cross-border flows are built.
When should I pair with another jurisdiction?+
Whenever your model needs a standing, supervised permission that Sri Lanka cannot grant - exchange or custody serving clients now. A licensed hub holds the regulated activity, and the Sri Lankan company is the local base, sequenced cleanly.
Why Sri Lanka with you?+
Because the value is in the record: a clean company, FTRA-grade AML, the survey answered properly and a readiness file kept current. When the framework the Concept Paper points to is enacted, that record is what enters first.
A crypto licence in Sri Lanka?+
No - no law, no licensing body, nothing gazetted.
What changed in late 2025?+
A mandatory FIU survey - the sector formally counted.
The Concept Paper?+
Presented 12 Feb 2026 - a proposal, not a law.
Is operating legal?+
Unregulated, not banned - clean company, real AML.
A law coming?+
No date - roadmap discussed; we track the drafts.
Company taxes?+
30% corporate; VAT 18%; FX rules apply.
When to pair?+
When a standing supervised permission is needed.
Why with us?+
A clean record now - first in line if a law passes.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: the company and AML route, the readiness file, or a paired structure.Free legal opinion: the company and AML route, the readiness file, or a paired structure - what fits your project.
✓Written legal opinion within 2-5 business days - free of charge✓A clear, honest read on scope - not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Central Bank of Sri Lanka, the Financial Intelligence Unit or any other public authority. Registrations are made with, and obtained directly from, the competent authorities.