{"id":9053,"date":"2017-03-27T18:32:11","date_gmt":"2017-03-27T18:32:11","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=9053"},"modified":"2019-02-12T14:03:04","modified_gmt":"2019-02-12T19:03:04","slug":"get-sri-lanka-visa-investment-immigration-soon","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/get-sri-lanka-visa-investment-immigration-soon\/","title":{"rendered":"Get a Sri Lanka Visa Through Investment Immigration Soon"},"content":{"rendered":"

Demand for luxury Sri Lanka real estate is expected to increase with plans to award a Sri Lanka visa under a new investment immigration program.<\/p>\n

\"Get<\/p>\n

High net worth individuals are already showing keen interest in the Sri Lankan luxury real estate market, and the proposed investment immigration visa is expected to capitalise on this.<\/p>\n

The Asian country wants to ease pressure on its rupee currency by attracting foreign investment in return for a Sri Lanka visa.<\/p>\n

The government says it will award temporary residence visas to those investing a minimum of $300,000.<\/p>\n

Finance minister Ravi Karunanayake believes foreigners can be drawn into putting their surplus cash into the country in return for a Sri Lanka visa.<\/p>\n

The funds can come into the country using a commercial banking license, the minister said.<\/p>\n

Sri Lanka is a becoming a popular holiday destination, particularly with older people, and the government wants to capitalize by offering two or three year residence permits in exchange for the investment.<\/p>\n

Karunanayake says an investment of $1.5 million would see the duration of the visa extended.<\/p>\n

Investment immigration<\/a> streams would include banking, the stock market or treasury bonds.<\/p>\n

The minister said exchange controls would be eliminated under the program, with investments earning a return of up to three per cent, compared to 0.5 per cent elsewhere in the world.<\/p>\n

Boosting foreign reserves and cutting foreign debt is the motivation behind the introduction of the program.<\/p>\n

The program was initially proposed as part of the country\u2019s 2016 budget.<\/p>\n

Some Sri Lankan officials have come out against the program, which is yet to be presented to cabinet ministers.<\/p>\n

The objectors want to know how it will affect Sri Lankan businesses.<\/p>\n

Sri Lanka has an established system of awarding residency and visa, comparable with more economically developed nations.<\/p>\n

As in both Canada and the U.S., visitors to Sri Lanka require an equivalent of the Electronic Travel Authorization.<\/p>\n

There are also strict laws on foreign investment and the channels through which cash can enter the country.<\/p>\n

Further reading<\/b><\/p>\n