Sri Lanka to issue long-term residence visa for foreign investors

Sri Lanka Government granted approval for the new methodology to issue resident visas for foreign investors in Sri Lanka on a long-term basis.

The approval of the Cabinet of Ministers was given to the following proposals tabled by the President in his capacity as the Defence Minister:

• Depending on the amount of investment of United States Dollars, issuance of long-term residence VISA from 5 to 10 years for foreigners and directors, their spouses and their dependents of foreign companies who invest at least US$ 75,000 or more in condominium properties.
• Implementation of a programme named “Golden Paradise VISA Programme” that enables to get residence VISA for 10 years for the foreigners who deposit at lease US$100,000 in a commercial bank recognized by the Central Bank of Sri Lanka.