Sri Lanka is a lovely bright country on Asia’s southern coast. For many years, the country has been a distinctive tourism destination for many European and American visitors. Sri Lanka has a one-of-a-kind golden visa program for overseas investors. The RGSVP (Resident Guest Scheme Visa Program) is a program that is open to all foreign nationals. Investors are required to contribute to the country’s economic and socio-cultural development under the scheme.
The RGS is part of a package of incentives for potential foreign investors and experts who want to help the country flourish economically and culturally. Senior Officials from Relevant Government Agencies make up the RGS’s Implementing Agency. The Implementing Agency’s office is in Battaramulla, Sri Lanka, at the Department of Immigration and Emigration, “Suhurupaya.”
Foreign investors with a minimum investment of US $ 250,000 or an equivalent amount in any convertible foreign currency can invest in the following:
- New projects that have been approved by the Board of Investment or another government agency.
- Existing or new businesses must be approved by the appropriate authority.
- The Colombo Stock Exchange listed shares.
are qualified for a visa as an investor. This visa is also available to the applicant’s dependents (spouse, dependent children, and the applicant’s and/or his spouse’s parents). Successful applicants will be granted a multiple entry Investor Visa with a maximum validity of five years.
The Department of Immigration only issues investor visas in Colombo after an application is submitted with all relevant supporting documentation. If the application is approved, the applicant receives a visa acceptance letter outlining the rules, regulations, and restrictions that apply to the visa while waiting for his or her passport to be processed.
- Application for a visa in quadruplicate
- photocopies of the applicant’s passport data page
- A photocopy of the marriage certificate or contract is required (if dependents are included in the application)
- Two 3.5×4.5 centimeter pictures of the applicant and each dependent.
- The main applicant’s medical report.
- Documentation of a USD 250,000 transfer to Sri Lanka.
- A police report from his own country was received.
- The project in which the investment will be made should be described in detail.
The following documents should be provided: BOI Agreement, BOI Certificate, Memorandum and Articles of Association, BOI Recommendation, Line Ministry Recommendation. If the project includes an existing business, the necessary registration paperwork must be submitted.
- Without the express written approval of the Department of Immigration and Emigration, the holder shall not engage in any employment, trade, or business other than that mentioned in the visa.
- Any significant modifications in the investment strategy must be reported to the Department of Immigration and Emigration in writing.
- Comply with Sri Lankan immigration and emigration procedures, as well as other rules and regulations.
- Comply with Sri Lankan tax legislation.
- Refrain from engaging in any political or other activity that is not in the public interest or could jeopardize the country’s security.