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July 11, 2022
2022-1037

Sri Lanka introduces new 10-year Golden Paradise Residence Visa for investors

The Sri Lankan government recently introduced the Golden Paradise Residence Visa for qualifying foreign nationals who make investments in Sri Lanka and their dependents. The visa confers authorization to work and study in Sri Lanka, is valid for up to 10 years and requires visa holders to deposit at least USD 100,000 in a Sri Lankan bank account. Visa holders are eligible to sponsor their spouses and children aged 16 years or below to join them in Sri Lanka for the duration of their visa.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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Full text of Tax Alert

 

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