Sri Lanka has enacted national legislation, namely the "Electronic Transactions Act, No. 19 of 2006", which is founded upon and influenced by the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Commerce.

Sri Lanka has not enacted national legislation that is comprehensively based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Signatures. Nonetheless, the Electronic Transactions Act No. 19 of 2006 implements some regulations related to electronic signatures.

Pursuant to Section 10.1 of the "Directions Issued to Authorised Dealers on Electronic Fund Transfer Cards", certain transactions are expressly prohibited when using credit or debit cards, including payments associated with virtual currency transactions, payments related to betting, gaming, or gambling activities outside the jurisdiction of Sri Lanka, and payments for the import of goods into Sri Lanka for commercial purposes.

Circular No. 02 of 2025, issued by the Central Bank of Sri Lanka, stipulates that the maximum value for fund transfers conducted via the Common Electronic Fund Transfer Switch (CEFTS) shall not exceed LKR 5 million (approx. USD 16,000) per transaction.

Pursuant to Section 5 of the "Payment Cards and Mobile Payment Systems Regulations No. 1 of 2013", an individual or entity may engage in the business of, or operate as, a service provider in relation to a mobile phone-based electronic money (e-money) system, provided such activity is conducted under the authority of a licence issued by the Central Bank of Sri Lanka.
In addition, Circular No. 4 of 2023 issued by the Central Bank of Sri Lanka prescribes transaction and balance limits applicable to mobile e-money accounts. Under this framework, accounts classified as "enhanced"—those subject to full Know Your Customer (KYC) compliance—are permitted to hold and transact up to LKR 150,000 (approx. USD 500) per day. In contrast, "basic" accounts, which are subject to limited KYC procedures, are restricted to a daily limit of LKR 20,000 (approx. USD 70). Additionally, the maximum stored value permissible for each account category concurrently serves as the upper limit for individual transactions across all transaction types.

Revenue Protection Order No. 02/2017 stipulates that the de minimis threshold, defined as the minimum value of goods below which customs duties are not levied, applies in certain circumstances. According to the Sri Lanka Customs National Imports Tariff Guide 2025, imports of personal items (including gifts) valued at LKR 20,000 or less (approx. USD 60), and commercial samples valued at LKR 60,000 or less (approx. USD 200), are exempt from customs import duties, subject to the terms and conditions prescribed by the Director General of Customs. These thresholds fall below the USD 200 benchmark recommended by the International Chamber of Commerce (ICC).

In August 2020, pursuant to the Imports and Exports (Control) Regulations No. 05 of 2020, the Government of Sri Lanka announced the suspension of import licences for a range of goods listed in Schedule 1 of the Regulations. These goods, which ordinarily require an import control licence for entry into the country, were temporarily restricted from importation in response to the economic repercussions of the COVID-19 pandemic. The suspension took effect on 18 August 2020 and, as of 2025, remains in force for several product categories, thereby continuing to prohibit their importation. According to the 2025 Consolidated Import Control List, import control licenses remain suspended for various items, including used automatic data processing machines, used monitors, and projectors not incorporating television reception apparatus, among others.

Under Section 115A of the Customs Ordinance, no goods may be imported into Sri Lanka except by a registered importer. According to the Sri Lanka Trade Portal, all importers, regardless of the type of goods, must present a valid Tax Identification Number (TIN) in order to complete their registration in the customs system. In addition, certain categories of goods are subject to import control and require an import control licence issued by the Controller of Imports and Exports, which must be obtained separately prior to importation.

Pursuant to Art. 4.11 of the Imports and Exports (Control) Act, No. 1 of 1969, no person may import goods into Sri Lanka without a valid licence issued by the Controller of Imports and Exports. Art. 14 further specifies that the Minister of Finance, Economic Stabilization and National Policies can issue regulations to prohibit or regulate the import of certain goods.
The latest Consolidated Customs Import Control List of controlled goods whose import requires a licence includes telecommunication equipment and other transmission apparatus, including used smartphones (HS 8517.13.10), used isotopes other than those classified under heading 28.44 (HS 2845.90), radio navigational aid apparatus (HS 8526.91), among others.
Furthermore, under Art. 2 of the Special Import Licence and Payment Regulations, No. 1 of 2011, only certain operators may import controlled goods. These are (i) individuals, trading either in their own name or under a business name, who are citizens of Sri Lanka; (ii) firms, partnerships, or other entities duly registered in Sri Lanka; (iii) public and private companies incorporated under the Companies Act, No. 7 of 2007; and (iv) non-nationals holding a valid visa authorising residence in Sri Lanka.

Pursuant to Art. 21.1 of the Sri Lanka Telecommunications Act, No. 25 of 1991, the import of any telecommunication apparatus in Sri Lanka is prohibited unless carried out under the authority of a valid licence issued by the Telecommunications Regulatory Commission. As established in Art. 21.2, such licences are subject to conditions determined by the Commission, including the payment of a prescribed fee and compliance with specific restrictions. Under Art. 21.3, the Commission retains the power to revoke any licence for non-compliance with licensing conditions, failure to make required payments, or breach of applicable regulations.

Sri Lanka’s import regime is reportedly characterised by high entry barriers and regulatory opacity. It is reported that the discretionary nature of import approval processes contributes to regulatory unpredictability, as agencies do not follow uniformly applied standards or procedures. Requirements often vary by product or authority, creating significant compliance challenges for importers. Foreign stakeholders have expressed concern that previous administrations failed to adequately consult the private sector before introducing new regulatory measures. In addition, regulatory bodies responsible for evaluating imported products reportedly face limited technical capacity, further complicating the approval process.

Under Section 115A of the Customs Ordinance, no goods may be exported from Sri Lanka except by a registered exporter. According to the Sri Lanka Trade Portal, all exporters, regardless of the type of goods, are required to register with several institutions, including the Sri Lanka Export Development Board (EDB), the Inland Revenue Department (to obtain a Tax Identification Number and, if applicable, a VAT number), and Sri Lanka Customs. While mandatory registration with the EDB has been revoked by Extraordinary Gazette No. 2118/60 of 11 April 2019, the EDB continues to maintain a voluntary exporter registration scheme. To complete the registration process with these bodies, exporters must submit the original Business Registration Certificate or Certificate of Incorporation, along with other supporting documentation and completed application forms.

Pursuant to Art. 21.1 of the Sri Lanka Telecommunications Act, No. 25 of 1991, the export of any telecommunication apparatus in Sri Lanka is prohibited unless carried out under the authority of a valid licence issued by the Telecommunications Regulatory Commission. As established in Art. 21.2, such licences are subject to conditions determined by the Commission, including the payment of a prescribed fee and compliance with specific restrictions. Under Art. 21.3, the Commission retains the power to revoke any licence for non-compliance with licensing conditions, failure to make required payments, or breach of applicable regulations.

The Radio and Telecommunications Terminal Equipment (RTTE) Type Approval Rules govern the type approval procedures in Sri Lanka. While local laboratory testing is not mandatory, Section 14 requires that testing must still be undertaken by laboratories accredited by the International Laboratory Accreditation Cooperation (ILAC), ensuring that test results are recognised and accepted. In accordance with Section 10, these certified laboratory reports verify the device’s compliance with safety, radiofrequency performance, and electromagnetic compatibility standards.

Under Sections 6 and 7 of the Standardization and Quality Control Regulations issued pursuant to the Imports and Exports (Control) Act, No. 1 of 1969, importers of certain designated goods are required to submit all relevant documentation concerning such goods to both the Director General of Sri Lanka Customs and the Director General of the Sri Lanka Standards Institution prior to customs clearance. Where necessary, product samples shall be tested in accordance with the applicable "Sri Lanka Standards". Samples submitted to the Sri Lanka Standards Institution will be assessed for conformity with these standards in accordance with the conformity assessment procedures and guidelines established by its Director General. In addition, Section 9 stipulates that no importer may sell, offer for sale, use, or distribute certain specified goods without the prior approval of the Director General of the Sri Lanka Standards Institution. Among the goods falling within this regulatory scope are primary cells and batteries, as well as PVC-insulated, non-armoured cables.
The 2024 Regulation repeals the Imports and Exports Control (Standardization and Quality Control) Regulations 2017, which contained similar provisions.