At a glance
- Program: Sri Lanka Individual Investor Residence Visa (replaced Golden Paradise)
- Launched: 1 October 2025 — first visa issued under revised category
- Investment: USD 100,000 (5-year visa) or USD 200,000 (5+5-year visa)
- Annual fee: USD 200 per applicant per year
- Banking: Mandatory VP FCA (Visa Programme Foreign Currency Account) with a licensed Sri Lankan bank
- Family: Spouse and dependents may be included
- Tax residency: Not automatic — depends on 183-day physical presence rule
- Work rights: Restricted to visa purpose; no blanket employment authorization
Sri Lanka’s Individual Investor Visa is a complete reset of the country’s residency-by-investment policy. The government consolidated multiple legacy schemes — including Golden Paradise and the Condominium Visa — into a single investor category under Immigration Regulation Gazette No. 2360/24 (November 2023). The first visa under the revised framework was issued on 1 October 2025. This guide covers the current investment thresholds, the mandatory banking route, permitted investment types, family inclusion, tax implications, and application requirements.
Last updated 30 March 2026
What changed: from Golden Paradise to Individual Investor Visa
Sri Lanka previously ran several parallel investment-linked residence pathways — Golden Paradise, the Condominium Visa, and the Resident Guest Scheme among them. The government consolidated these into a single Individual Investor category to reduce policy complexity and strengthen foreign direct investment inflows. The regulatory foundation is Gazette No. 2360/24 (27 November 2023), which lists the Investor Visa as a Residence Visa subclass with a dedicated Form A1. The Central Bank followed with Directions No. 05 of 2024 (1 August 2024), formalizing the Visa Programme Special Accounts banking framework.
| Feature | Legacy (Golden Paradise era) | Current (Individual Investor Visa) |
|---|---|---|
| Program structure | Multiple parallel schemes with varying criteria | Single unified investor category |
| Minimum investment | Varied by scheme (USD 75,000–500,000) | USD 100,000 (5-year) or USD 200,000 (5+5-year) |
| Fund flow | Legacy mechanisms | Mandatory VP FCA with licensed bank |
| Visa fees | Flat fee (e.g., USD 2,000 for 10 years) | USD 200 per applicant per year |
| BOI requirement | Required for some categories | Not required for Individual Investor Category |
Investment thresholds and visa validity
The revised program sets two clear tiers:
| Tier | Minimum investment | Visa duration | Annual fee |
|---|---|---|---|
| Tier 1 | USD 100,000 | 5 years | USD 200 per person per year |
| Tier 2 | USD 200,000 | 5+5 years (initial 5-year endorsement, then official extension letter for additional 5 years) | USD 200 per person per year |
Important clarification: The “10-year” visa is not a single 10-year endorsement. The Department of Immigration grants the initial visa for 5 years, then issues an official letter to extend for an additional 5 years for those who invested USD 200,000. This 5+5 structure was confirmed by the Immigration guideline documentation.
Permitted investment types
Under the Individual Investor guideline, qualifying investments include:
- Voting shares in a Sri Lankan company (minimum 10% of voting share capital for the applicant’s investment)
- Operating an overseas company as a place of business, subject to foreign exchange rules
- Government debt securities issued by the Government, government establishments, or the Central Bank — minimum 5-year maturity required (treasury bills do not qualify)
- Term deposits in LKR or designated foreign currencies with a licensed commercial bank
- Immovable property — subject to other written laws (see property restrictions below)
Property ownership restrictions
While immovable property is listed as a permitted investment, Sri Lanka’s Land (Restrictions on Alienation) Act No. 38 of 2014 generally prohibits the transfer of land title to foreigners. However, the Land Amendment Act No. 21 of 2018 allows foreigners to purchase condominium parcels under the Apartment Ownership Law, provided the entire value is paid through inward foreign remittance. Investors considering a real estate route should work with local counsel to confirm eligibility.
VP FCA: the mandatory banking channel
All investor visa funds must be remitted into Sri Lanka and deposited through a Visa Programme Foreign Currency Account (VP FCA) held with a licensed Sri Lankan commercial bank. This requirement is embedded in the revised investor visa framework and formalized by CBSL Directions No. 05 of 2024.
Key VP FCA details:
- Available at any of Sri Lanka’s 24 licensed commercial banks, including Bank of Ceylon, People’s Bank, Commercial Bank of Ceylon, Hatton National Bank, Sampath Bank, Seylan Bank, HSBC, and Standard Chartered
- Maintained as savings or term deposits in designated foreign currencies — USD, GBP, EUR, AUD, CAD, SGD, JPY, HKD, NZD, CHF, and others
- One account per eligible person (joint with dependents allowed)
- Funding sources: inward remittances, foreign exchange brought into Sri Lanka (declared), transfers from IIA/offshore accounts, interest earned
- Permitted debits: repatriation upon visa expiry or permanent departure, transfers to IIA/offshore, foreign currency notes withdrawal up to USD 10,000, permitted investments in LKR, current transaction remittances for holder/spouse/dependents
Documentation for opening a VP FCA: account opening application form, passport photocopies (photo page, personal details, visa pages), KYC forms, FATCA declaration, and documents evidencing eligibility for the visa program. Individual banks may require additional documentation.
Family inclusion: spouse and dependents
The Individual Investor Visa allows the main applicant to include a spouse and dependents in the application. No additional capital deposit is required beyond the main qualifying investment for family members. However, each family member is subject to the annual visa fee of USD 200 per person per year. A family of four would incur USD 800 annually in administrative fees.
The Immigration guideline does not publicly define “dependent” by age or specific family relationship. All applicants — including dependents — must provide due diligence documentation: a medical clearance report from a government-authorized hospital in Sri Lanka, a security clearance form, and a police clearance certificate from their home country or country of residence (not older than 3 months).
Tax implications for investor visa holders
The Individual Investor Visa does not automatically confer tax residency in Sri Lanka. Tax residency is determined by the Inland Revenue Act: an individual is considered resident if physically present in Sri Lanka for 183 days or more in the relevant assessment year. This means an investor can hold the visa without becoming a Sri Lankan tax resident, provided they manage their days of presence.
Key tax considerations:
- Residents (183+ days): taxed on worldwide income at progressive rates from 6% up to 36%
- Non-residents: taxed only on Sri Lanka-source income
- Foreign-source income (from 1 April 2025): when remitted to Sri Lanka in foreign currency through a Sri Lankan bank, subject to a maximum 15% rate; otherwise normal progressive rates up to 36%
- Capital gains tax: 15% for individuals and partnerships
- No specific tax incentives have been gazetted solely for Individual Investor Visa holders
Sri Lanka has double tax agreements with the US, UK, India, UAE, Russia, and multiple EU countries (Belgium, France, Germany, Italy, Netherlands, Sweden, and others). For cross-border tax planning, see our overview of tax frameworks as a reference point for comparing jurisdictions.
Work rights and restrictions
A common misconception is that the investor visa grants blanket employment rights. It does not. The Gazette-set Form A1 application includes a declaration that the applicant shall not engage in employment — paid or unpaid — other than the purpose of the visa. In practice, this means managing your qualifying investment is permitted, but taking up separate employment in Sri Lanka is not authorized under this visa class alone.
How to apply: step-by-step process
Phase 1 — Pre-arrival preparation (weeks 1–4):
- Obtain a police clearance certificate from your home country or country of residence (must be less than 3 months old at time of submission)
- Complete the Personal Particular Form with the Ministry of Defence
- Open a VP FCA with a licensed Sri Lankan commercial bank and remit the qualifying investment (USD 100,000 or USD 200,000)
- Obtain a bank confirmation letter showing the account is categorized as VP FCA and the current balance
Phase 2 — In-country processing (weeks 5–6):
- Complete medical screenings at a government-authorized hospital in Sri Lanka (screening covers malaria, filariasis, tuberculosis, and HIV/AIDS)
- All family members included in the application must also complete medical clearance
Phase 3 — Submission and evaluation (weeks 7–12):
- Submit the complete application dossier to the Department of Immigration at Battaramulla (submission window: 8:30 AM – 2:00 PM)
- No statutory processing timeframe has been published; based on competitor reporting, expect 1–3 months for initial processing
Phase 4 — Approval and ongoing compliance:
- Upon approval, the visa is endorsed in your passport
- Investment is reviewed every 2 years; material changes must be notified within 2 months
- Visa cancellation requires 2 months’ notice plus 14 working days before permanent departure
- Full release of invested funds occurs only after visa cancellation procedures are complete
How Sri Lanka compares to other investor visa programs
| Program | Investment | Type | Duration | Key advantage |
|---|---|---|---|---|
| Sri Lanka | USD 100K–200K | Liquid bank deposit | 5–10 years | High liquidity; non-resident tax status possible |
| UAE Golden Visa | ~USD 545K | Real estate or enterprise | 10 years | Zero personal income tax |
| Thailand Privilege | ~USD 25K+ | Non-refundable fee | 5–20 years | Lowest entry cost (but capital is unrecoverable) |
| Malaysia MM2H | Tiered | Fixed deposit + real estate | 5–20 years | PR possible at highest tiers |
| Portugal Golden Visa | ~USD 540K | Private equity / VC funds | 5 years | EU citizenship pathway after 5 years |
| Armenia | Varies | Business / property | 1–10 years | Fast processing; English-friendly legal system |
If you are evaluating multiple residency-by-investment routes, see our guides on residence permits, citizenship, and residence by investment for comparison.
Key regulatory timeline
| Date | Event |
|---|---|
| 27 November 2023 | Immigration regulation amendment (Gazette No. 2360/24) — Investor Visa listed as Residence Visa subclass |
| 1 August 2024 | CBSL Directions No. 05 of 2024 — Visa Programme Special Accounts formalized |
| 1 October 2025 | First Individual Investor Category residence visa issued |
| 6 February 2026 | CBSL/DFE Investments in Sri Lanka page updated |
Frequently asked questions
What is the minimum investment for Sri Lanka’s investor visa?
USD 100,000 for a 5-year residence visa or USD 200,000 for a 5+5-year residence visa. Funds must be deposited through a Visa Programme Foreign Currency Account (VP FCA) with a licensed Sri Lankan commercial bank.
Can I include my spouse and children in the application?
Yes. The main applicant can include a spouse and dependents. No additional capital deposit is required, but each person pays USD 200 per year in visa fees. All family members must provide medical clearance and police certificates.
Does the investor visa make me a tax resident of Sri Lanka?
Not automatically. Sri Lankan tax residency is based on the 183-day physical presence test under the Inland Revenue Act. Holding the visa alone does not create tax residency. Residents are taxed on worldwide income at rates up to 36%; non-residents are taxed only on Sri Lanka-source income.
Is the Golden Paradise Visa still available?
No. Golden Paradise has been consolidated into the Individual Investor category under Gazette No. 2360/24. The legacy program portal remains accessible for reference, but all new applications follow the revised Individual Investor framework.
Can I buy property in Sri Lanka with the investor visa?
Immovable property is listed as a permitted investment, but Sri Lankan law generally prohibits land title transfers to foreigners. Condominiums are the exception — foreigners can purchase condominium parcels under the 2018 Land Amendment Act, provided the full value is paid through inward foreign remittance.
Can I work in Sri Lanka on an investor visa?
The investor visa does not grant blanket employment rights. The application form includes a declaration that the holder will not engage in employment other than the purpose of the visa. Managing your qualifying investment is permitted, but taking separate employment requires additional authorization.
How long does processing take?
No statutory processing timeframe has been published by the Department of Immigration. Based on available reporting, the pre-arrival preparation phase takes approximately 4 weeks, in-country medical clearance 1–2 weeks, and the formal evaluation period 1–3 months.
Can I get my investment back when I leave Sri Lanka?
Repatriation of funds is permitted upon visa expiry or permanent departure, subject to completing the visa cancellation process (2 months’ notice plus 14 working days). Funds can be transferred from the VP FCA to an offshore account or IIA. No capital transactions outside Sri Lanka are allowed through the VP FCA without special approval during the visa period.
