Investor visa program launched

IMPACT – MEDIUM

The Sri Lankan government recently launched its “Golden Paradise” visa program for investors.

Key Points:

• Foreign nationals can now apply for the 10-year “Golden Paradise” investor visa through this website.
• To be eligible for the investor visa, individuals must:
  • Open a “Golden Paradise” bank account and deposit at least US$100,000. Visa holders will be able to withdraw $50,000 after the first year.
  • Email proof of their bank deposit, six-month police record, medical report and a copy of their passport biographical page to goldenparadise@immigration.gov.lk when notified to submit such evidence.
  • Compete the Residence Visa application and the Personal Particular form.
• Foreign nationals who obtain a visa can sponsor spouses and dependent children.
• Individuals will not be allowed to work while in Sri Lanka on the investor visa.

Additional Information: More information regarding the “Golden Paradise” investor visa is available here.

BAL Analysis: Foreign nationals who meet the investment requirements of the new program are now eligible to apply for the long-term visa.

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

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