Colombo, April 26 (AdaDerana) – The government has decided to implement a new methodology to issue long-term residence visa for foreigners in Sri Lanka.
The approval of the Cabinet of Ministers was given to the following proposals tabled by the President in his capacity as the Defence Minister:
• Issuing long-term residence visa from 5 to 10 years for foreigners and directors, their spouses and their dependents of foreign companies who invest at least USD 75,000 or more in condominium properties. This will depend on the amount of US dollars invested.
• Implementing ‘Golden Paradise Visa Program’ that enables the issuance of a residence visa for 10 years for foreigners who deposit at least USD 100,000 in a commercial bank recognized by the Central Bank of Sri Lanka.