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. 

 


There are 2 Comments

Resident visas should be governed not only by the monetary neeed for investment , but also by the population and the provision of human needs at the market where the demand and suppy is to be looked at to mauntain a market price for the food basket of the have nots ..The need tosupply a life style for the foreigner who would ne needing the food and other aspect of consumer products of his or her culture .The inflation in the price of limited residential property that would make it hard for the locals to own a home in their life time ..We might push out our own to make room for the big money ..A complex issue this granting of visas handled with care and vision by most countries and not a statement so simple in thinking to suck in those that do not want to dwell in depth on this matter ..Please give it a thought before we open the doors where 24 million people are competing for space with the animal wealth that we want to preserve ,

Consideration for Permanent Resident Visas for Spouses of Sri Lankan Citizens was brought up in 2016 . Please address this issue also . I am a Sri Lankan Citizen & my wife who is a USA citizen is required to apply for renewal of the Sri Lanka Resident Visa when the expiration date is due . For more than TEN YEARS my wife has renewed her Resident Visa & I think it is time to consider issuing Permanent Resident Visa in case as such as my wife's . You attention to this is very much appreciated . Note : I addressed this issue to The Commissioner of Immigration / Emigration is 2016 but I have not received any response . Thank You . Peter B C Fernando . 87/10/A , Martin Drive . Suduwella , CHILAW .

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