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* Five year visa facility to foreign investors to boost FDI
Tue, Jun 21, 2022, 08:48 am SL Time, ColomboPage News Desk, Sri Lanka.

June 21, Colombo: The Government of Sri Lanka encouraging foreign investors has decided to provide a five year visa facility to investors who aim to increase the country’s foreign exchange.

Accordingly, the Board of Investment of Sri Lanka has submitted a proposal to the Cabinet of Ministers in this regard and it has been approved by the Cabinet in March.

Chao Yin Man, Director, Baili Investments Lanka (Pvt) Ltd. obtained the first five-year residence visa facility under this scheme.

Baili Investment Lanka (Pvt) Ltd., a Chinese company that owns the 1,200-unit luxury apartment complex project in Rajagiriya with an investment of 22,000 million Sri Lankan rupees (US $ 60 million), is one of the most successful housing projects in the Asian region.

The company plans to offer half of the apartments in the proposed luxury apartment complex to local, foreign, medium-sized investors and professional regular travelers.

CEO of the company, Chen Manhai said the Government and the Board of Investment of Sri Lanka have provided special visa facilities to investors in their housing projects, with Chinese investors seeking to promote Sri Lanka’s tourism industry throughout the Southeast Asian region.


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