Sri Lanka to give dual citizenships for Rs500,000; resident visa for investors at Rs2.5mn

COLOMBO (EconomyNext) – Foreign citizens of Sri Lankan origin will be given dual citizenship on a 500,000 rupee fee, and foreigners investing over 10 million US dollars will also be given resident visa, finance minister Ravi Karunanayake said.

Such a visa will be valid for 5 year and will have a fee of 2.5 million rupees, he said.

The resident visa will be given after Defence Ministry approval.

It is not clear whether the move is a tightening or relaxation of existing rules for investors.

 

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