Foreigners who deposit over US$ 300,000 to get 10 year visa

dollar_300Foreign individual who remit US$ 300,000 will be granted 10 years residency visa in Sri Lanka, the Government announced today.

The Government said that it had been proposed in the 2016 budget to grant residency visa to foreign individuals who bring a large amount of foreign exchange into the country.

A proposal made by Finance minister Ravi Karunanayake to direct the legal draftsman to draft the proposed special deposit account Act, was approved by the cabinet of Ministers, the Government said today.

Under the proposed act individual who remit US$ 300,000 will be granted 10 years residency visa and a minimum balance of US$ 300,000 should be maintained throughout the 10 years.

The Government said expenses of such persons would create a demand for products and services such as hotels, recreation and transport.

According to the Government encouraging foreigners to commence ventures in Sri Lanka will provide employment opportunities as well as business partners for Sri Lankans.

The Government however said that the visa holders will not be entitled to be employed in Sri Lanka. (Colombo Gazette)

10 COMMENTS

  1. $50000US CD for three yrs. with a Govt.bank in SL must get dual Citizenship without payment of the fees for the entire SL born family.
    Dual citizenship fees for the others must be paid in foreign money,not in SL Rs.as done at present.This amounts to money laundering. Wake up your ideas immigration boss/Ravi Karu,

  2. Foreigners who bring a large amount of money to get residency visa – News.
    By Noor Nizam. Peace and Political Activist, Political Communication Researcher, SLFP Stalwart and Convener – The Muslim Voice.

    As bribery, corruption and smuggling is dominant in Sri Lanka and prostitution and drug trade is rampant under the pretext of Tourism industry development, big time MAFIA operators and money laundering big timers will enter the country to set-up their regional operations under this scheme. The government immigration and banking sectors are NOT efficient to world standards to tract down and ascertain whether these applicants are genuine honourable persons interested to seek such visas for a comfortable and leisure life in Sri Lanka or are they International crooks. President Maithripala Sirisena has to be cautious NOT to allow such schemes without fully understanding the situation, just because the Finance Minister says that there will be lots of deposits coming in to the country. All his (The President’s) endeavours to control the drug, smuggling, prostitution and money laundering activities will be of NO use, if this is type of opening out the country to International crooks will be allowed.Moreover, International Terrorist operatives who want to create trouble for us, could also use this ruse to creep into our country. During President Mahinda Rajapaksa’s government, strict administrative regulations concerning the issue of these visas were in place and they were NOT bent whoever may have suggested them as above. The Buddhist clergy should take up this matter with HE. The President before it is too late in the interest of the future generation of our children.

    – 30 –

  3. Now the government is getting extra cash, so it can reduce the dual citizenship fee. I paid AUD 250 to get Australian citizenship. Why should I pay AUD 2225 to get Sri Lankan dual citizenship?

    You must ask questions, and make sure that your answer makes sense, otherwise you won’t become like Singapore.

    • You wrote in your now defunct website Asia Unite that you got kicked out of Australia , Canada , Singapore & Malaysia & Japan and they will not let you into Sri Lanka even for your mothers funeral. So be happy now you are in New Zealand because we tolerate any riffraff for now.

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