Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* BOI launches long-term residence visa program for foreign investors
Sat, Jul 2, 2022, 10:57 am SL Time, ColomboPage News Desk, Sri Lanka.

July 02, Colombo: Sri Lanka’s investment promotion agency, the Board of Investment (BOI) Friday launched the five-year residence visa program dedicated to investors, stakeholders and BOI enterprises.

Issuing long-term visas for investors has been the practice as per the international standards. On par with matching the international benchmark in respect of ease of doing business, the BOI has decided to launch this program to attract more investors to the country.

The long-term visa program, a long-felt need, primarily aims to facilitate the investors who wish to embark on a journey with the BOI.

The BOI annually issues 7500-8000 visa recommendations for investors, employees and dependents.

The BOI has granted visas for foreign nationals from 109 countries such as India, the United Kingdom, Japan, Korea, Malaysia and Pakistan which represent the most applicants based on last year’s statistics.

Addressing the gathering, Investment Promotion Minister Dhammika Perera said “The happiness on the faces of those investors present at the occasion, implies that the newly launched visa residence scheme is a success,”

“Before the implementation of this program, they had to go through a long documentation process every year to get these visas,” he pointed out.

“Having understood the prime need to provide a seamless and convenient service for investors, we have launched the new program albeit I have not officially assumed duties as the Investment Promotion Minister,” Mr Perera highlighted.

Meanwhile, BOI Director General Renuka M Weerakone stated “It is certainly a pleasure to see all our long-standing investors on this special day of launching the long-term residence visa program for investors.

“You all have been the contributors towards 65% of export earnings to Sri Lanka and have stood by us even in times of difficult periods that our country faced, which we wish to acknowledge with great gratitude,” she underscored.

“As far as the new program is concerned, the visa application process can be accessed online and the BOI is also using online facility for Defense clearance and plans to introduce the same mechanism with the Department of Immigration and Emigration,” Ms Weerakone explained.

 

ColomboPage - Recent 10 Stories ::
Cardinal vows to continue struggle for the Easter Sunday victims
-- [7 hours ago]
Sri Lankan President orders to strictly limit government expenses
-- [8 hours ago]
Pakistan extends continued support to Sri Lanka
-- [9 hours ago]
Sri Lanka Navy rejects reports of a ‘War Game’ with Pakistan Navy
Three elephants including a tusker killed by electrocution
Sri Lanka Defense Ministry lifts the ban imposed on six Tamil organizations
BOI achieves more than 50 percent of its investment targets for the year
Sri Lanka Foreign Ministry’s statement on Chinese vessel Yuan Wang 5
Two Sri Lankan nationals arrested for robbing gold jewellery from a passenger at Chennai airport
Central Bank instructs to further restrict imports of non-essential goods as dollar crisis worsens

Copyright © 2000, 2020 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.