Govt. to issue long-term residence VISA for foreign investors

The government granted approval for the new methodology to issue resident visas for foreign investors on a long-term basis.

The approval for the proposals furnished by the President in the capacity of the Defence Minister to issue long term VISA subject to that methodology mentioned as follows.

• Depending on the amount of investment of United States Dollars, issuance of long-term residence VISA from 5 to 10 years for foreigners and directors, their spouses and their dependents of foreign companies who invest at least US$ 75,000 or more in condominium properties.

• Implementation of a programme named “Golden Paradise VISA Programme” that enables to get residence VISA for 10 years for the foreigners who deposit at lease US$100,000 in a commercial bank recognized by the Central Bank of Sri Lanka