Sri Lanka Investor Visa | A Complete Guide
Investor Category:
Sri Lanka’s investment visa system, issued by the local government, allows foreign individuals to reside in Sri Lanka long-term through various investment activities such as purchasing deposits, real estate, funds, stocks, or operating companies. Currently, the entire Sri Lankan investment visa system encompasses the following five economic options:
1. Golden Paradise Visa: This option allows applicants to obtain a ten-year residence visa by depositing $200,000 in a local Sri Lankan bank.
Similar to Malaysia’s “My Second Home” program, in the second year after obtaining this visa, you can withdraw and use 50% of your deposit; the remaining 50% of the deposit cannot be touched.
2. Direct Investment: This option requires applicants to directly invest capital in operating a company in Sri Lanka in exchange for long-term local residency. Under current rules, if your investment exceeds $300,000, you can obtain a five-year local residence permit; if your investment is no less than $500,000, you can obtain a ten-year local residence permit.
3. Investment in a Condominium Property: This option requires applicants to purchase property in Sri Lanka in exchange for local residency and includes four sub-options:
If a single individual purchases property worth $75,000 in a suburban area of Sri Lanka, they are eligible to apply for a five-year residence permit.
If purchasing property in an urban area, applicants need to purchase property worth over $150,000 in exchange for a similar five-year residence permit.
If a single individual owns property in Sri Lanka valued over $200,000, they are eligible to apply for a ten-year local residence permit.
If a company purchases property and the property value exceeds $500,000, up to four senior leaders of the company can apply for a five-year Sri Lankan residence permit as primary applicants.
3. Fund Investment (Treasury Bonds, Treasury Bills, Sri Lanka Development Bonds): This option requires applicants to purchase funds in Sri Lanka in exchange for long-term local residency.
Under current rules for this option, if your investment exceeds $250,000, you are eligible to apply for a five-year Sri Lankan residence permit; if your investment reaches $400,000, you are eligible to apply for a ten-year local residence permit.
4. Investments in Sri Lanka Share Market: This option requires applicants to invest in the Sri Lankan stock market in exchange for long-term local residency.
Currently, if your investment in the stock market is no less than $100,000, you are eligible to apply for a five-year local residence permit; if your investment reaches $200,000, you are eligible to apply for a ten-year local residence permit.
Regardless of the option chosen, all visa applicants must pay an annual fee of $200 upfront (i.e., a five-year visa requires a payment of $1,000, and a ten-year visa requires a payment of $2,000).
Application Process:
The application process for Sri Lanka Investment Visa is quite straightforward. First, you need to complete your investment. Then, prepare all the required documents and submit your application at the Investment Visa counter at the Department of Immigration & Emigration in Colombo. After submission, you’ll await the visa’s approval.
The documents required for this program include:
Applicant Identification Documents: This includes valid passports for all primary and secondary applicants, two passport-sized photos, and relationship proof documents such as birth certificates and marriage certificates for all primary and secondary applicants.
Completed Application Forms: You can either fill out the application form in person at the Sri Lanka Department of Immigration & Emigration in Colombo, or you can download and complete a residence visa application form and a personal information form online.
Investment/Income Proof: You’ll need to provide a series of documents to prove your investment has been completed, including bank statements and an investment confirmation letter from the Board of Investment (BOI).
Company Information: If your investment involves registering a company in Sri Lanka, you’ll need to provide all necessary company-related information.
Medical Examination Report: All primary and secondary applicants must undergo a medical examination at an accredited local Sri Lankan hospital and obtain a report.
Police Clearance Certificate: All adult primary and secondary applicants must provide a police clearance certificate issued by the law enforcement agency of their passport-issuing country.
Dependents:
For the Sri Lanka Investment Visa, the main applicant’s spouse and financially dependent children can also obtain visas as secondary applicants.
Visa Validity:
The Sri Lanka Investment Visa is valid for five or ten years and can be renewed indefinitely under the original conditions upon expiration.
Sri Lanka does not offer naturalization by descent. However, holders of a local residence visa can apply for citizenship after residing in Sri Lanka for five years by participating in the Resident Guest Scheme (RGS).