Sri Lanka's investor residence visa for five or ten years

Sri Lanka's long-stay options for foreigners are governed by the Immigrants and Emigrants Act No. 20 of 1948 and administered by the Department of Immigration and Emigration in Battaramulla. In 2022 the government launched the Golden Paradise Visa, which required a deposit in a dedicated foreign currency account; the minimum was raised from USD 100,000 to USD 200,000 in October 2022. Regulations published in Gazette No. 2360/24 in November 2023 then created a broader Investor visa category, and the government announced that it would take the place of the older Golden Paradise, Condominium, Resident Guest and My Dream Home schemes. The Department now lists My Dream Home and Resident Guest as extension-only categories for existing holders. The first visa under the revised Investor category was issued on 1 October 2025.

The investor must route funds from abroad through an Inward Investment Account (IIA) into a Visa Programme Foreign Currency Account (VPFCA), or the rupee equivalent, at a licensed commercial bank, and invest from there. Qualifying investments are: at least 10% of the voting shares of a Sri Lankan company, within the sectoral limits of the foreign investment rules; a registered branch of an overseas company; government or Central Bank debt securities with a maturity of at least five years; term deposits with a licensed commercial bank; or immovable property, subject to the land laws. USD 100,000 supports a five-year visa and USD 200,000 a ten-year visa. There is no minimum stay, but holders must notify material changes within two months, the investment is reviewed every two years, and repatriation of capital on exit follows the Foreign Exchange Act No. 12 of 2017.

Family inclusion is straightforward: the spouse and dependants are covered, each paying the same USD 200 annual visa fee as the main applicant. The Investor category is exempt from the residence-visa Health Protection Plan, provided a health certificate is supplied. Foreigners generally cannot acquire freehold land in Sri Lanka, but they may buy condominium units and hold land on long leases, so property is usually held through an apartment purchase or a company structure within the foreign-ownership rules.

Tax residence arises from 183 days of presence in a 12-month period ending in the year of assessment. Residents are taxed on worldwide income at progressive rates up to 36%, so investors who spend most of the year in Sri Lanka should plan their income streams carefully. An Inland Revenue (Amendment) Bill tabled in 2026 proposes that Golden Paradise visa holders be treated as non-resident regardless of days spent, taxed only on Sri Lankan-source income; this should be treated as a proposal until enacted. Residence does not lead to citizenship: the Citizenship Act provides narrow registration routes, chiefly for persons of Sri Lankan descent and spouses of citizens, and there is no investment-based route.