
SFNRA & SFNEDA
Offers a special account scheme that allows senior foreign nationals over 55 years of age who wish to prolong their stay in Sri Lanka on resident visa.
A – Senior Foreign National “Fixed Deposit Foreign Currency Accounts” (SFNFDA)
B – Senior Foreign National “Rupee (Savings/Current) Accounts” (SFNRA)
A – Senior Foreign National “Fixed Deposit Foreign Currency Accounts” (SFNFDA)
Deposits Will be opened with an initial sum of USD 15,000 or an equivalent amount in any convertible foreign currency brought into the country through banking channels.
Withdrawals are permitted with the prior approval of the Controller of Exchange when the account holder decides to terminate his/her stay in Sri Lanka.
Interest rates applicable are the same as in Non Resident Foreign Currency (NRFC) Accounts
B – Senior Foreign National Rupee (Savings/Current) Account (SFNRA)
In addition to the deposit account under category “A”, a monthly remittance of USD 1,500/- for the principal applicant and USD 750/-, or equivalent in other foreign currency, for accompanying spouse and each dependent child for their upkeep in Sri Lanka shall be deposited in these accounts under the account holder’s name.
Accounts in this category should carry a minimum balance of USD 1,500 or equivalent.
Permitted Credits
- Foreign currency brought into the country by the account holder for his upkeep (i.e. USD 1,500 per month) and for the upkeep of his/her spouse and other dependants (i.e. USD 750 for each dependant per month).
- Interest paid on funds held in Senior Foreign National Fixed Deposit Foreign Currency Accounts (SFNFDA).
Permitted Debits
- Local expenses of the investor and his/her dependents.
- Outward remittances by converting the rupees to Foreign Currency payments for current international transactions of the investor and/or dependant’s resident in Sri Lanka.
- Relevant mandates duly completed for both FD & Savings
- Letter of request from the applicant
- Photocopy of the passport (relevant pages where photograph and personal details are available)
- Introduction from one’s bankers overseas