Sri Lanka To Grant 2-5 Year Resident Visa To Foreign Investors

Sri Lanka To Grant 2-5 Year Resident Visa To Foreign Investors
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The Sri Lankan Government has decided to grant foreigners investing a minimum of over 300,000 US dollars in the country a temporary resident visa of 2 to 5 years.

Finance Minister, Ravi Karunanayake said that foreigners investing over 1.5 million dollars would also be given rights to lease land.  The Minister further stated that the funds would have to come through legal banking channels.

The Minister said the necessary legal grounds are being formulated in this regard.

Minister Karunanayake added that through this move the government aims to prevent the country from accumulating debt to foreign countries. The possibility of giving permanent residence is also a possibility for larger investors, Karunanayake said.

He also encouraged Sri Lankans holding monies overseas to bring it back to Sri Lanka.

 

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