Key Points
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Introduction of new long-term residence options for foreign national investors
Overview
On 28 April 2022, the government of Sri Lanka approved new long-term residence categories for foreign national investors. These new visa types are as follows:
- The Golden Paradise Visa Program: available to foreign nationals who deposit at least USD 100,000 into a bank account in Sri Lanka; or
- The Long-Term Residence Visa: available to foreign nationals who invest USD 75,000 or more in condominium properties in Sri Lanka.
Status under this new program will be issued for a period of five to ten years.
What are the Changes?
The government of Sri Lanka announced a new program that will be open to foreign national investors. Applicants will need to ensure that they adhere to the conditions of each visa type.
Looking Ahead
Information on the application process is expected to be introduced in the coming weeks.
Originally published MAY 3, 2022
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