2-5 year Resident Visas for foreigners investing over USD 300, 000

Resident Visas for up to 5 years would be issued to foreigners who would invest a minimum of US $ 300 000 in Sri Lanka, Finance Minister Ravi Karunananyake said.

The Minister said, “We are expecting to provide land permanent residency and land leasing facilities for foreigners who are expecting to invest more than US $ 1 500 000 as long-term investment plans”

He was speaking at a media briefing at the Finance Ministry today.

He also said that the objective would be to reduce the debts and increase investments and thereby to mark Sri Lanka as an ‘Investment destination’. The ultimate aim would be to implement a ‘win-win strategy’ and to reduce the tax burdens borne by the general public, Karunanayake added.

The Minister said, “Worldwide investors including Sri Lankans should be attracted to invest in the Colombo Stock Exchange (CSE), Commercial Banks and also in Government’s Treasury Bills and Treasury Bonds”

Many projects would be implemented through-out the country and thereby massive number of employment opportunities would be generated, Karunanayake said.

He further said that measures would be taken to eradicate further depreciation of the Sri Lanka Rupee.