Resident visas will have longer validity

The Sri Lankan government intends to increase the validity of resident visas to encourage foreign investments in the country.

Key Points:

• Officials intend to extend the validity of resident visas from two years to five years.
• The validity of resident visas granted and receiving proper approval will also be increased from five to 10 years.
• Authorities have yet to decide if the validity extensions will apply to new or existing resident visas.

Additional Information: The longer validity for resident visas is intended to spur economic activity and provide a better environment for foreigners to invest in businesses.

BAL Analysis: BAL will continue to monitor develops regarding resident visas and will provide more information as it becomes available.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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