All foreign nationals, including their spouse and dependents of the main applicant, are eligible for the residence visa under the Individual Investor Category. The visa fee is USD 200 per year for each main applicant, spouse and each dependant.
The minimum investment amount for a 5-year residence visa under the Investor Visa Category is USD 100,000, while a 10-year visa requires USD 200,000.
Visa endorsement is initially granted for 5 years. For applicants who have made a minimum investment of USD 200,000, an official letter will be issued by the Department of Immigration and Emigration to extend the visa for an additional 5 years.
Foreign investors will have to deploy this money in approved investments, including the acquisition of immovable property or in opening and operating a business in Sri Lanka as an overseas company.
Foreign investors will have to open an Inward Investment Account (IIA) and a Visa Programme Foreign Currency Account (VPFCA) with any licenced commercial bank (LCB) in Sri Lanka to start investing in the permitted investments.
Foreign investors are also allowed to hold investments in voting shares issued by Sri Lankan companies, but that must not be less than 10% of the company’s voting share capital.
In addition, Term deposits and investments in Sri Lankan Rupees and foreign currency debt securities with a minimum 5-year maturity period issued by the Government of Sri Lanka and the Central Bank of Sri Lanka, are also allowed to obtain a residence visa under the Individual Investor Category.
Sri Lanka’s Investor Visa program aims to encourage foreign investment in sectors like information technology and tourism by allowing individuals to enter and reside in the country while managing their investments. The residence visa is also available to foreigners under the Employment Category and the Education Category.
Golden Paradise Residence Visa Program comes with a 10-year validity, with the visa fee cost of USD 2000 payable for 10 years.
The Golden Paradise visa allows foreigners to invest, live and study in Sri Lanka. The investment could be in a government-approved investment, a condominium property in Sri Lanka, lands and buildings on a lease basis or in Sri Lanka Development bonds.
