IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 22 Nov 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On 22 November 2010, the Sri Lankan Central Bank issued a notification guiding banks to provide a new facility called Inward Investment Account (IIA) for foreign companies who are registered as overseas companies in Sri Lanka. The new facility shall facilitate foreign investment in the country.
The account can be used for transactions including local earnings and expenses, foreign receipts (coverted into rupee), and profit/royalty/franchisee or other such expense payments. All other transactions will require prior approval. Further, an overdraft facility is not available for this account.

AFFECTED COUNTRIES

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