Sri Lanka offers a unique scheme for foreign investors. The scheme is known as Resident Guest Scheme Visa Program (RSVP) which is open to all foreign nationals. The scheme requires investors contribute to the economic and socio-cultural development of the country. The RGS investor category visas issued will be valid for five years and can be renewed thereafter. Sri Lanka permits dual citizenship, foreigners can naturalize for citizenship after ten years of living.
One of the important conditions for investors is they must contribute to economic development, and cannot participate in political activities or security threats to the country.
There are two categories available for foreigners:
Under this scheme, foreign investors must make the following investment
For additional family members, the investment increases to USD 35,000
The Bank deposit can be in any convertible foreign currency and deposit the funds in a special account in any commercial bank approved by the Central Bank of Sri Lanka.
The Economic investment can be made in the following ventures approved by the Board of Investment
The professional category requires no investment but $2000 per month for expenses and $1000 per month for every family member has to be deposited in a special bank account for foreigners. This category is also suitable for retirees.
Golden Paradise Visa
The Golden Paradise Visa is a special category of Residence visa which is a permit for foreigners to obtain residence facilities to invest in a government-approved bank. The spouse and the dependents or the primary applicant will also be eligible to apply for the same visa.
Facts about Sri Lanka
Benefits of Golden Paradise Visa
Applicant can invest, Live and Study in Sri Lanka
The applicant can:
Applicant – US$ 250,000 (minimum)
Dependent – US$ 35,000 (minimum)
Applicant – US$ 2000
Dependent – US$ 1000
Step 1: You have to contact the nearest embassy or consulate of Sri Lanka.
Step 2: Complete the Sri Lanka application form and submit it to the embassy or consulate along with the visa fee, your passport, and the required documents.
Step 3: The embassy/consulate will forward your application to the Sri Lankan Department of Immigration and Emigration (DI&E).
Step 4: You will receive a visa application reference number. The embassy/consulate will notify you when your application has been processed. This usually takes about three working days.
Step 5: You go back to the embassy/consulate and receive your passport with the Sri Lanka visa attached.
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Privacy World can also help you with incorporating your company in Sri Lanka, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.
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Dual citizenship is restricted in Sri Lanka.
An individual shall be a resident in Sri Lanka for a year of assessment if the individual resides in Sri Lanka, is present in Sri Lanka during the year and that presence falls within a period or periods amounting in aggregate to 183 days or more in any 12-month period that commences or ends during the year.
Yes, you can include your dependents.
Yes, an interview is required.
No, any nationalities can apply.
Citizenship can be obtained by foreign investors and professionals who have made a substantial contribution to economic, social, and cultural development, through naturalization where the person was under a Resident Guest Scheme for a period of 5 years.
Resident individuals are subject to income tax on their worldwide income.
Non-resident individuals are taxed only on their Sri Lanka-source income.
There are no net wealth/worth taxes in Sri Lanka.
There are no inheritance taxes in Sri Lanka.