How much of foreign currency can you bring into Sri Lanka?

Policies on currency taken abroad for travel purposes. You can bring any amount of foreign exchange (including notes, bank drafts and travel cards). However, if the total value of foreign exchange exceeds USD 15,000 or its equivalent, it should be declared to the Customs of Sri Lanka.

How to channel investments into and from Sri Lanka?

A mechanism is in place for investors to freely bring in investments to Sri Lanka and to repatriate the returns from such investments outside Sri Lanka, without referring to the Central Bank of Sri Lanka, through the Securities Investment Account (SIA) which can be opened and maintained with an Authorized Dealer.

How to buy immovable property in Sri Lanka?

For foreign nationals, foreign companies or a company incorporated in Sri Lanka with over 50% of foreign ownership, purchasing land is restricted. However, land could be acquired up to 99 years on lease. For companies with minority foreign shareholding, Sri Lankan nationals or dual-citizens, immovable property can be bought through a Securities Investment Account (SIA), the sales proceeds can be freely remitted back through the SIA. If the purchase was made through a direct remittance, proof of the transaction is required prior to the sale of the property.

How is foreign investment protected?

Article 157 of Sri Lanka’s Constitution guarantees the safety of investment protection treaties and agreements approved by parliament by a two-thirds majority.

Which department should be contacted if there is an interest in foreign investment?

The Board of Investment of Sri Lanka (BOI) of Sri Lanka facilitates foreign investments into the country. It also has a ‘One-Stop-Shop’ mechanism for clarifications and dispute resolution. Please visit http://www.investsrilanka.com for details.

Where can I find out about imported products subject to mandatory Sri Lanka standards?

Information can be found at: http://www.slsi.lk

Are there products that need a license to import and export?

Information can be obtained at: http://www.imexport.gov.lk

Where can I find information about sanitary and phytosanitary (SPS) measures applied by Sri Lanka?

Information can be found at: http://www.doa.gov.lk

Do I need an import permit to import plant, planting material and plant products into Sri Lanka?

For more information, visit: http://www.doa.gov.lk

Curtesy: Ministry of Foreign Affairs, Sri Lanka, Compiled by Verité Research

FAQs on Doing Business with Sri Lanka (Attachment)