ANNOUNCEMENT 22 Nov 2010

In November 2010, the government of Sri Lanka announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 22 Nov 2010 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

 On 22 November 2010, the Central Bank of Sri Lanka permitted foreign companies and who are registered as an overseas company in Sri Lanka to carry on business in Sri lanka subject to the following conditions - 
 

  • Commercial activity can by done by this company in all sectors except a list of 11 prohibited sectors and 10 other sectors that require prior permission from the Controller of Exchange
  • Non-commercial activities that do not provide any income can be undertaken in any sector
  • A minimum USD 200,000 or equivalent amount needs to be transferred, invested and maintained for the duration of this business in Sri Lanka
  • All remittances out of Sri Lanka to owner company will require getting the necessary certification from auditors in Sri Lanka and/or other specified authorities

 
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A