Asian – Dispatch

Sri Lanka has issued the first residence visa under its revised “Individual Investor” category, in line with regulations gazetted in Nov. 2023.

According to the Ministry of Public Security and Parliamentary Affairs, the inaugural visa was granted to German national – Dr. Pay Drechsel yesterday (Oct. 01).

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Under the scheme, foreign nationals can obtain a 05-year residence visa by investing at least USD 100,000, or a 10-year residence visa by investing USD 200,000 or more. 

Applicants are required to open a Visa Programme Foreign Currency Account (VPFCA) with any licensed commercial bank in Sri Lanka and deposit the funds.

Source: Sri lanka Mirror