Press briefing of Cabinet Decision taken on 2022-04-25

Issuance of Long Term Residence Visa for Foreign Investors

- The Cabinet at its meeting held on 2021‑03‑07 has granted approval to introduce a new methodology for the issuance of long term Residence Visa in lieu of the previously implemented methodology. Accordingly, the proposals pertaining to the issuance of long term Residence Visa under the said methodology submitted by H.E the President in his capacity as the Minister of Defence as follows, were approved by the Cabinet.

* Issuance of long term Residence Visa for 5 to 10 years for foreigners and Directors of Foreign Companies together with their spouses and dependents, who invest at least US$ 75,000 or more in Condominium property, depending on the amount of US dollars so invested.

* Implementing a programme called “Golden Paradise Visa Programme” enabling to issue Visa for expatriates for a period of 10 years who deposit at least US$ 100,000 in a Commercial Bank recognized by the Central Bank of Sri lanka.