ECONOMYNXT - Sri Lanka will give a 5-year resident visa for foreign individuals who deposit 300,000 US dollars in banks and rights to lease land for those investing over1.5 million dollars, Finance Minister Ravi Karunanayake said.
The visa will be immediately available through an administrative order but it could legislated later in the year, he said.
The possibility of giving permanent residence is also a possibility for larger investors, he said.
The funds have to come through legal banking channels and they should not have been acquired through legal means, he said.
He said Sri Lankans who hold money abroad are also encouraged to bring them back to the country.
The visa will be immediately available through an administrative order but it could legislated later in the year, he said.
The possibility of giving permanent residence is also a possibility for larger investors, he said.
The funds have to come through legal banking channels and they should not have been acquired through legal means, he said.
He said Sri Lankans who hold money abroad are also encouraged to bring them back to the country.
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