Sri Lanka Investor Visa and Digital Nomad Visa: Your Pathway to Investment, Remote Work and Residence in Sri Lanka
Sri Lanka is emerging as one of South Asia’s most attractive destinations for investors, professionals and travelers seeking a ‘home away from home’ in a tropical setting allowing for a ‘work life balance’. Strategically located, Sri Lanka boasts of being a hub for major trade routes supported by a robust legal framework and progressive investment policies.
In keeping with its policies, Sri Lanka offers opportunities whether as an investor seeking to establish a business, a remote professional serving global client, an individual employed by a Sri Lankan entity, or a spouse joining a Sri Lankan national. The country’s immigration framework provides structured and transparent pathways to live and work in Sri Lanka lawfully.
The recently introduced ‘Investor Visa’ and ‘Digital Nomad Visa’ expand the scope of Sri Lanka’s visa regime, offering enhanced residency options aligned with modern business models, remote work trends, and long-term economic engagement with the country.
1. INVESTOR VISA — A pathway for long-term investment and residency
The Investor Visa under the Immigration and Emigration Regulations (Extraordinary Gazette No. 2360/24 of 27 November 2023) issued under the Immigrants and Emigrants Act, No. 20 of 1948 as amended supports foreign direct investment by offering investors and their families long-term residence rights linked to defined capital investments.
Who may apply?
Eligible persons include foreign nationals along with spouses and dependents.
Investment Criteria:
- A minimum investment of USD 100,000 secures a 5-year residence visa.
- An investment of USD 200,000 secures a 10-year visa.
- The Investment must necessarily be routed via the designated bank account type, namely, the ‘Visa Program Foreign Currency Account’ (VPFCA)/ Visa Programme Sri Lanka Rupee Account (VPRA). The VPFCA/VPRA, maybe opened with any licensed commercial bank in Sri Lanka, subject to also requiring the Inward Investment Account (IIA) through which the funds will be transferred to the VPFCA/VPRA.
Permitted Investment Types:
- Equity investment in no less than 10% of the voting shares in companies incorporated under the Companies Act No. 7 of 2007 (‘Companies Act’) subject to relevant foreign exchange regulations.
- Opening and operating business branches of overseas companies registered locally under the Companies Act.
- Investment in Government or Central Bank of Sri Lanka issued debt securities with a minimum maturity period of five (05) years.
- Term deposits in Sri Lankan Rupees or designated foreign currencies at any licensed commercial banks in Sri Lanka
- Acquisition of immovable property, subject to other applicable local laws governing foreign ownership.
Required documents include:
- A visa application form together with a letter request; and
- Passport having no less than a six (06) month validity period remaining.
- Recent photographs.
- Detailed investment proposal in the identified categories of permitted engagement as outlined above.
- Family-related documents such as marriage and birth certificates for spouse and dependents (if applicable);
- A Medical Clearance Report from the ‘Inbound Health Assessment Centre’;
- A Police Certificate from the applicant’s home or country of domicile (not older than three (03) months); and
- A confirmation letter from the relevant licensed commercial bank in Sri Lanka verifying the applicant’s accounts and investment balances.
Process and Conditions:
Applicants are required to enter Sri Lanka on a ‘Business / Tourist Visa’ which maybe applied for online to submit the application to the ‘Residence Visa Division’ of the Department of Immigration and Emigration (the ‘Department’). Following eligibility and compliance evaluation, successful applicants receive a visa in the way of endorsement on the Passport.
In the case of an application for a ten (10) year visa, notwithstanding that the approval is for the entire period, the visa is endorsed in two stages of five (05) years each.
The Department conducts biennial reviews of investment projects to ensure ongoing compliance. Investors must notify the Department in writing within two months of any material changes in investment or personal particulars. Strict adherence to immigration laws, tax obligations and prohibition of political or disruptive activities is enforced.
Visa termination requires two (02) months’ advance written notice along with compliance with foreign exchange regulations for capital repatriation.
The Investor Visa offers a secure and transparent pathway for foreign investors seeking residence in Sri Lanka combined with business opportunities.
For further information, please contact:
Manjula Sirimanne, Partner, D. L. & F. De Saram
desaram@desaram.com
