Sri Lanka
USA
Canada
India
UK
UAE
Sri Lanka has issued the first residence visa under its revised “Individual Investor” category, in line with regulations gazetted in November 2023.
The Ministry of Public Security and Parliamentary Affairs said the inaugural visa was granted today (Oct. 1) to German national Dr. Pay Drechsel.
Under the scheme, foreign nationals can obtain a five-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.
Authorities said the initiative is aimed at promoting foreign direct investment by providing long-term residence opportunities for individual investors who commit capital to Sri Lanka. (Newswire)
