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Introduction.....................................................................................................................

...... 1
What is One Stop Unit - Unit for National Investment in Tourism
(UNIT) ..............
Unit 2
Services................................................................................................................. 3
UNIT Resource Centre ................................................................................................. 3

Step-by-Step Process
........................................................................................................ 4

Fee
Structure ........................................................................................................................
Investors are required to make only two payments to UNIT ........................................ 7 6

Taxes Levied ................................................................................................................. 7

Key Development Projects


............................................................................................... 8
Zones identified as suitable for tourism development:................................................. 9
Specific projects: ......................................................................................................... 9

Development
Guidelines................................................................................................... 10
Density of Accommodation ......................................................................................... 11
Buildings Heights......................................................................................................... 11
Buffer Zones ................................................................................................................ 11
Construction/Design Guidelines ................................................................................. 11
Visual Quality ............................................................................................................... 11
Conservation................................................................................................................ 11
Project proposal Guidelines........................................................................................ 12
Investment Policy......................................................................................................... 12
Entry and Exit of Foreign Investment .......................................................................... 13
Investment Protection ................................................................................................. 13
Agencies Represented at
UNIT....................................................................................... 14
FAQs ....................................................................................................................................
. 20
Elephants roam freely, water buffaloes idle in paddy fields and monkeys swing
from trees. And then theres the pristine coastline. The miles of sugary white sand
flanked by bamboo groves that were off-limits to most visitors until recently...

The New York Times ranked Sri Lanka as No. 1 of 31 places to visit in 2010

Sri Lanka, an island off the Indian subcontinent with a land area of 64,470 square kilometres,
has a population of around 19.7 million people. The workforce, highly literate, makes up 35%
of the population. With an economy of $43.3 billion (2010 estimate) and a per capita GDP of
approximately $5,300, the country has experienced sustained growth in recent years. The
government is committed to further development of the economy - ranked as one of the most
liberalised in South Asia by creating a business climate conducive to private investment.
Investors receive preferential tax rates, guarantees on investment agreements, exemptions
from exchange control, and 100% repatriation of profits..

In antiquity, Sri Lanka then known as Taprobane and later Serendib -attracted many
entrepreneurs, particularly Arabs and Chinese, due to its wealth of gems, pearls, ivory and
ebony, and its strategic location on the early maritime trade routes. Todays entrepreneurs
can select from a much wider variety of business opportunities. Take the tourism industry,
which is based on Sri Lankas exceptional natural and cultural attributes the beaches with
their sugary white sand; snorkelling diving, windsurfing; dolphin and whale watching; scenic
mountains with rivers ideal for white-water rafting; bio-diverse rainforests, wildlife
sanctuaries, botanical gardens; a remarkable archaeological heritage; and colourful festivals.

All these attributes are now being more widely appreciated, for during the first 5 months of
2010, Sri Lanka recorded 233,922 tourist arrivals, representing a growth of 48.5% compared
to 2009. This number is expected to continue to rise due to political stability, the removal of
travel advisory, and favourable international tourism ratings.

Currently Sri Lanka has a number of five-star hotels and approximately 180 other hotels and
resorts. Together with the government, Sri Lanka Tourism is working towards a significant
increase in tourist
-and therefore arrivals
room capacity - in the next few years. Foreign direct investment and
international trade is encouraged and many incentives offered. In order for investors to take
full advantage of these opportunities, Sri Lanka Tourism has established a One Stop Unit Unit
for National Investment in Tourism (UNIT) that provides a trouble-free, convenient, and time-
saving method of obtaining approvals and implementing projects.

Sri Lanka has absolutely everything National Geographic Channel


considers Sri Lanka the 2nd best tourist destination
The One Stop Unit

Unit for National Investment in Tourism (UNIT) is a centralised promotion and facilitation
centre established to assist potential tourism investors interested in investing a minimum
capital of US$ 2 million. UNIT is a one-stop location and point of contact for investors seeking
information on the tourism industry. Specialist staff from various government agencies (see
page 15) help investors identify feasible projects, obtain information regarding potential
investments, submit applications, and provide support in obtaining investment promotion
privileges, trade licenses and other approvals requested for project clearance. UNIT prevents
the need for investors to spend time in search of answers and ensures all queries are handled
by its specialist staff. Furthermore, UNIT reduces the time taken on receiving approval from
various government agencies and does the coordinating on behalf of the investor.
UNIT SERVICES

Services available after the final clearance


Services available prior to investment: for construction:

Information on potential tourist invest- Help with staffing needs and the
ments. Help with investment setting up of an office.

promotion and gathering of information Recommendation for Visas

Provision of a directory of land available Monitor construction progress


Help in finding similar entrepreneurs for and facilitation on construction

investors interested in joint ventures Provide solutions should


operational issues arise
Help in completing application form

Organisation of site inspection UNIT RESOURCE CENTRE

Representation of the investor at Investors can access the UNIT database


meetings Fast-track obtainment of the for following services:

project clearance permit Architects


Structural Engineers
Surveyors
Services available during the investment: Law firms
Fast-track the approval from (seeRepresentatives
page 15) of
government agencies. state agencies
Agencies handling
environmental studies
Coordinating of building plan Soil testing companies
approvals required for investment.
Interior decorators
Coordinating Board of Building contractors
investment incentive schemes granting Waste management equipment
final approval suppliers
Suppliers of water
purification
Security system suppliers
If the investor has a specific tourism project in mind and has obtained
land, the following step-by-step process begins:
1. Collect a hard copy of the Tourism Investment Application Form from Sri
Lanka Tourism or download a softcopy from www.sltda.gov.lk
2. Fill in the Application Form with assistance from UNIT
if
3.required.
Submit the application to UNIT, whose staff will carry out a primary
appraisal and liaise with necessary officials on the investors behalf.
4. Presentation to the scoping committee meeting consist of representative of
all relevant government agencies. At this meeting decision is made of project
requires an EIA or IEER depending on number of rooms and sensitivity of the area.
5. A joint site inspection will be scheduled by UNIT and the investor notified.
The joint inspection will be carried out by officials of the Urban Development
Authority, Central Environmental Authority, Coast Conservation Department,
Department of Wild Life Conservation and relevant local authorities. Upon
completion an inspection report will be produced.
6. The report is presented to the UNIT Scoping Committee Meeting, to which.
the investor will be invited, if necessary.
7. If the committee grants project clearance, this means the relevant
government authorities have given approval for the project; however the project is
still
8. not Building
cleared for construction.
plans to be submitted to UNIT by the investor for approval by the
relevant agencies.
9. UNIT will issue final clearance for construction upon receiving approval of
building plan from Coast Conservation Department, Urban Development Authority
and Local Government. Final approval will also include the BOI incentive scheme, if
applicable.
10. The investor can there after commence
construction.
11. UNIT will provide follow up and monitoring services and shall inform, if a
need arises.

If the investor has a specific tourism project in mind but has not

obtained land:UNIT about land available for tourism investment purposes.


Consult
Provide a letter of intent in a specific format. ( see anexure 1)
UNIT will then assist the investor in scheduling land inspections if it is SLTDA
land and negotiating with landowners regarding price/lease.
UNIT will advise on any request for state lands.
Upon acquiring land, the steps 1-10 listed under A will be followed

If the investor is interested in investing in Sri Lankas tourism industry


but is unclear about the type of project and location, UNIT will set up a
meeting at Sri Lanka Tourism, Colombo, or via Skype, to provide advice
on current tourism projects and available opportunities.

1. The investor can view a presentation on investing in Sri Lanka and obtain
information
the on
various projects available for tourism investors. (www.sltda.gov.lk)
Upon finalising the project plan, the steps 1-10 listed under A will be
followed
Investors are required to make only two payments to UNIT:
1. The fee for processing your application, SLR. 300,000+ relevant taxes for the
minimum investment of US$ 500,000. All other investments will be charged SLR. 100,000 +
relevant taxes.
The appropriate fee or the minimum of Rs. 300,000 as applicable will be charged at the
time of granting SLTDA preliminary approval.

This includes the following: This does not include the followings:
a) Application processing fee of One Stop unit. a) Administrative charges for EIA / IEER b)
Fee for common inspection.

2. On granting final approval investors are required to pay one of


following
Investme Fee
nt Less 0.25
than US $ %
1 mn
Over US $
0.20
1 mn to
%
TAxES LEVIED 10 mn
Corporate Over US 0.1
income tax $10 mn %
(tax on net
profit/net
income)
Customs
Duty on
Zero tax rate
importation
(tax holiday) for
of capital 12%
Initial
goods for normal
investment Over
construction applicable
US$ 3 mn 3
and customs
years Over US$
completion tariff
5 mn 5 years
of the project normal
Over US$ 10 mn
Other levies applicable
7 years Zero
on tariff VAT
customs tariff
imports/local -on
(duty-free)* for
procurement imports
the period
s (VAT/ NBT/ -12% NBT
agreed with BOI
PAL)* -on
as approved by
Tourism imports
BOI normal
Development -2% PAL
applicable tariff
levy Nations -on
is payable 1%
Building tax imports
2% 0.25%
(NBT) (Tax on -5% 1%
during tax
sale 2% 1%
holiday 1%,
/turnover) Outside
thereafter
Economic BOI
Under the BOI-
Service Current
Agreement
Charge ESC rate
(BOI law of
(tax on
1978)
turnover)
* For a stipulated period
Minimum
threshold for
tax liability is
Rs 25 mn.
Zones Identified as Suitable for
Specific Projects:
Tourism Development:
Colombo and Greater Colombo Resort Resort Project
Region
Negombo, Colombo, Mount Lavinia Trincomalee is a popular foreign and local
tourist resort. Approximately 243ha (600
South Coast Resort Region acres) at Kuchchaveli, located on the
Wadduwa, Kalutara, Beruwala, Bentota, Trincomalee-Pulmudai road, has been
Dedduwa, Madu Ganga, Balapitiya, allocated for the development of a 3,000
Ahungalla, Hikkaduwa, Galle, Unawatuna, room resort with relevant infrastructure
Koggala, Weligama, Mirissa, Matara, facilities.
Tangalle, Hambantota, Tissamaharama
East Coast Resort Region Kalpitiya Integrated Tourism Resort Project
Arugambay, Pasikudah, Trincomalee, Nilaveli The Kalpitiya region, 150km (93 miles)
north of Colombo, is one of the most
West Coast Resort Region beautiful coastal areas of the Western
Kalpitiya, Marawila, Waikkala Province. Kalpitiya is a peninsula that
separates the Puttalam lagoon from the
High Country Resort Region Indian Ocean and is a marine sanctuary
Nuwara Eliya, Bandarawela, Maskeliya with a diversity of habitats -bar reefs,
coastal plains, saltpans, mangroves
Ancient Cities Resort Region swamps, salt marshes, and sandduned
Polonnaruwa, Habarana, Sigiriya, beaches.
Giritale, Anuradhapura, Dambulla,
Kandy, Matale, Victoria The Kalpitiya Dutch Bay Resort
Other Resort Regions Development Project is open to investors
Yala, Udawalawa, Wasgamuwa, pursuing the various business
Pinnawala, Ratnapura opportunities available.
1.
Density of Accommodation
against noise, to help maintain the privacy
Locat Maximu of the facility and enhance the quality of
ion m the property.
type accomm
odation 4. Construction/Design Guidelines
Sensit 25
A coastal reservation of
ive/ru rooms
the vegetation
50m-65m line should
from be allocated
ral per
areas hectare
62 Private paths should be
rooms between
edge of a coastal
the resort and the
Towns
per bioshield
hectare
125 No boundary walls are
rooms andallowed -
live fences are hedges
recommended
Cities
per
hectare Bicycle and pedestrian tracks
Resor Total
2. Buildings Heights provided
should
on either
be side of the highway
In order to enable the economic
maximisation of available tourism land Internal roads parallel to the
whilst protecting the visual quality of the main highway should be
area: built to provide access
Maximum storeys in rural Site coverage should be
shouldlocalities
be restricted to two limited to 30%
Power cables should be laid
Ridges of the roof underground
should
the height
be ofbelow
an average coconut Surface water should be
tree (12m) purified, recycled and
reused for flushing
The ground floor should be Waste should be separated
at source,
with aup
ridge height
to of 75m
5m recycled and reused.

Buildings over 100m high The use of neo-


could be developed as a signs is restricted
ground floor plus one floor with a ridge
height of 10m 5. Visual Quality
Buildings over 200m high All proposed buildings for tourist facilities
could be developed as a should incorporate local exterior
ground floor plus two floors with a ridge architectural, and, where possible,
height of 15m traditional patterns, designs and motifs in
All buildings should be in harmony with the interior decoration. This does not
the features of the land and locality, and exclude the use of modern design and
structurally sound and able to withstand a dcor, preferably using local material that
cyclone. does not clash with traditional styles.

3. Buffer Zones 6. Conservation


Landscaped buffer zones should be All buildings should be designed to
provided around the building as a conserve natural resources such as water
protective barrier and energy.
7. Project proposal Guidelines Investment Policy
The Project Report (submitted with the Sri Lanka has opened up its tourism sector
Tourism Investment Application Form) for 100% foreign and local
should include the following: investments,other than travel
agencies,inbound tour operators where
Introduction foreign equity is restricted to 40%
Scale Investments meeting the minimum
requirements are eligible for fiscal
Concept
incentives and facilitation from relevant
Location The Board agencies.
government of Investment acts as the
Product development mediator for foreign investors setting up
Financial Plan limited liability companies. The legal
Marketing framework for business enterprises in Sri
strategy Lanka is comprehensive and transparent.
Major legislation relevant to investments,
Community
benefits particularly foreign investments, are:
The Board of Investment
Timelines for
Law of 1978
completion
The Companies Act of
2007
The Exchange Control Act

Sri Lanka Tourism


Development Act of 2005
Entry and Exit of Foreign Investment ble Taxation Avoidance Treaties that
Inward remittances for investment, Sri Lanka has made with over 30
outward remittance of profits, dividends, countries.
royalties and other current account Investments in the tourism sector are
payments, and capital proceeds on subject to minimum requirements and are
liquidation/transfer of shares, are eligible for fiscal incentives including
permitted through the banking system. corporate tax exemptions and customs
-the Share Investment Account - which is duty. Exemptions are only under the Board
Investors are provided with a special bank
used for inward and outward remittances of Investment Law of 1978 (No. 4) and the
account
and can be opened with any commercial Inland Revenue Act of 2006.
bank operating in Sri Lanka. Please refer page No for tax concession
under BOI)
Please refer www.cbsl.lk for further details.
The Board of Investment and Sri Lanka
Tourism Development Authority jointly
Investment Protection Foreign advise investors on applicable incentives,
investment is protected through Bilat- with criteria for tax benefits notified
eral Investment Protection Treaties through gazette notifications.
and Dou
Representatives from the agencies listed below can assist you in your dealings with UNIT.
Contact UNIT fo
r
further details
:
UNIT (+94) 11 3135006. investment@srilanka.travel Video
conferences via Skype can also be arranged (Skype ID:
nimalkcmb).
SRI LANKA TOURISM DEVELOPMENT AUTHORITy
Sri Lanka Tourism Development Authority, established under Section 2 of the Tourism Act (No.
38 of 2005) and its scope varied from identifying and developing tourist specific, unique
products and services, formulating and implementing the legal and administrative process for
new product and service development. Specifically Sri lanka Tourism Development authority is
committed to approve the projects in total and compliance of relevant standards and provide
information and guidance to the prospective investors with regard to the proposed project.
www.sltda.gov.lk
Ad
Sri Lanka Tourism Development
dr
Authority, 1st Floor, No. 80, Galle
es
Road, Colombo 03.
s:
Tel
0113135006
:
Fa
+94 112426986
x:
Mr Dileep Mudadeniya
(Head of Standards Quality
Assurance, Investment, Legal &
Special Project)
(+94) 077 340 dileep@srilanka.tr
0257, 011 avel
2380944
BOARD MsOF Nimalka Morahela
INVESTMENT OF (Project
SRI LANKA
Manager, One Stop Unit)
Board of Investment is established under section (4 of 1978) and its committed to widen and
strengthen the base of the economy, diversify the sources of foreign exchange earnings and
to increase the export earnings; encourage and foster the establishment and development of
industrial and commercial enterprises within the Republic. Particularly BOI approve the foreign
investment and granting of fiscal incentives to the projects satisfying eligibility criteria.

www.boi.lk Address: Board of


Investment of Sri Lanka, World Trade Center,
Level 26, West Tower Echelon Square, Colombo 01 Tel: +94
0112427060, 011 2434403 - 5 Fax: +94 011 2422407

Mr Ignatius C. (Director Investment Promotion)


(+94) 077 791 5477 / 011 2543039 ignatiusc@boi.lk
Mr Duminda Ariyasinghe (Executive Director Investment
(+94) 077 358 0018 / 011 2430511 dumindaa@boi.lk
Promotion)
URBAN DEVELOPMENT AUTHORITy
Urban Development Authority established under section 41 of 1978, is committed to Carrying
out integrated planning and physical development of declared urban areas. Formulating and
submitting development plans, including capital investment plans. Undertaking the execution
of development projects and schemes. Formulating and implementing urban land use policy.
Developing environmental standards and preparing schemes for the environmental
improvement of urban areas. Providing technical planning services
www.uda.lk Address: Urban Development
Authority. 6 & 7 Floors, Sethsiripaya, Battaramulla Tel: 2875916 - 20 Fax:
2873637

Mrs Anuja Pieris (Town Planner) (+94) 077 0286512 /


Mr MHVR Kumara (Planning Officer) (+94) 071 3213691 / 011
0112875923
2875923
CENTRAL ENVIRONMENTAL AUTHORITy
The Central Environmental Authority (CEA) was established in August 1981 under the
provision of the National Environmental Act No: 47 of 1980.Mission of the organization is to
protecting and managing the quality of the environment by promoting public participation,
enforcement, advanced tec protecting & managing the quality of the environment by
promoting public participation, enforcement, advanced technological interventions &
environmental education.
www.cea.lk Address: Central Environmental Authority. No.
104, Denzil Kobbekaduwa Mw, Battaramulla Tel: 0117877277 Fax: 2872347 / 2872296

Ms. Kanthi de Silva (Director Environmental Impact Assesstant


(+94)
) 071 816 3372 / 0112876643 kanthides@cea.lk
Mr. AUK Ethugala ( Senior Environmental Officer )
(+94) 071 4831666 / 011 2876643 ajithethugala@gmail.com

COAST CONSERVATION DEPARTMENT


Coast Conservation Department, established under the Coast Conservation Act No. 57 of
1981, with the aim to improve, develop & manage status of coastal environment and to
improve the living standards of coastal communities and promote and facilitate economic
development based upon coastal resources. It is compulsory to obtain a coast conservation
permit for any development activity within the coastal
zone. Set back lines are specified in the Coastal Zone Management Plan of 1997 according to the Coast Conservation
Act No 57 of 1981.
www.coastal.gov.lk Address:
Coast Conservation Department. PO Box. 556, New Secretariat, Maligawatta, Col. 10
Tel:
0112449754
Fax:
0112449754
Mr Gamini Hewage ( Deputy Director)
0777308008 / 0112472623
Mr K.H.Ruwan Sriyantha (Field Officer)
0718100339 / 0112449754 khrsriyantha@yahoo.com

DEPARTMENT OF FOREST CONSERVATION


The Forest Department (FD) was established in 1887 and it functions under the Ministry of
Environment at present responsible for forestry in Sri Lanka. Its mission is to Conserve and
Develop Forest Resources for the Prosperity of the Sri Lankan Community. Tourism can be
undertaken within the forest areas depending on its conservation status and if any tourism
establishment is it must be agreed upon by the Conservator General of Forests within the
Legal framework. Allowance for such a project may depend on the activities proposed in new
www.environmentmin.gov.lk Address: Department of
projects.
Forest Conservation. No. 82, Sampath Paya, Battaramulla. Tel: Fax:

Mr S.A.D. Kingsley (Senior Deputy Conservation)


0718014728 pmking123@gmail.com
Mr K.W.K. Jayatilake (Assistant Conservation)
0112866632

DEPARTMENT OF WILD LIFE CONSERVATION


The Department of Wildlife Conservation (DWC) was established in 1949 and entrusted with
the overall conservation of fauna and flora of the country and the maintenance of its diversity.
The functions of DWLC are largely governed by the Fauna and Flora Protection Ordinance
(F&FPO) of Sri Lanka and Wiidlife Conservation Policy.
www.dwc.gov.lk Address: Department of Wild Life
Conservation. No. 811 A, Jayanthipura Road, Battaramulla.
Te 0112888585
l:
F
a 0112883355
x:
Mr Manjula Amararathna (hjhj)
0112888585 / manjulaamararathna
0714428858 @yahoo.com
Mrs
Chandani
Wilson (hjhj)
DEPARTMENT OF ARCHAEOLOGy
Department of archaeology, which was established under.ordinance is the apex
regulatory body in Sri Lanka for the management of its archaeological heritage. Department
of Archaeology is responsible for regular maintenance and security of the Archaeological
reserves and the protected monuments. It is the main regulatory body of Antiquities
Ordinance
Act 1988. of 1940 (Revised in 1956 & 1998) and Cultural Property
www.archaeoplogy.gov.lk
A
d
Department of Archaeology. Sir
dr
Marcus Fernando Mawatha, Colombo
e
07.
ss
:
Te
l:
F
a
x:
Mr Kappagoda
Priyantha

DEPARTMENT OF IRRIGATION
Department of Irrigation, which was established in 1900, is a principal Government
organization responsible for the regulation and control of inland water. It is responsible for
planning, design, construction, operation and management of all major and medium Irrigation
schemes and works related to flood control, drainage and salinity extrusion. it is the main
regulatory body for implementation of Irrigation ordinance, Technical Guidance circulars of
Irrigation Department and flood protection Ordnance.
www.irrigation.gov.lk

Mr.S. Selvakanthan 0722875120


Mr.N.A.I.U.K.Nissanka 0112583303

SRI LANKA LAND RECLAMATION AND DEVELOPMENT CORPORATION


Sri Lanka Land Reclamation and Development Corporation which is established under the
Colombo District (Low Lying Areas) Reclamation & Development Board Act No. 15 of 1968, is
the State agency which grants permission for the public to fill marshy land subject to
provision of storm water drainage as per designs prepared by SLLR&DC. However, no
permission granted for filling the marshy lands at present, unless it is a state land. If any new
tourism establishment constructed in low level land, SLLR&DC permit need to be obtained.
The powers of the SLLR&DC, are specified in section 8 and 9 of the Act No. 15 of 1968 and as
amended by Law No. 27 of 1976, Act No. 52 of 1982 and Act No. 35 of 2006.
www.landreclamation.lk
Dr.N.S.Wijeratne 0719659773 Mr.Hemantha Kamalasiri 0112862152
hemanthakamal@hotmail.com

DEPARTMENT OF ExCISE
Excise Department has been established under the Excise Ordinance No 8 of 1912 and its
committed to Collect and protect of revenue from liquor and tobacco, enforcement of the
Excise Ordinance and the Tobacco Tax Act. The Excise department is responsible for effecting
of Poisons, Opium and Dangerous Drugs Ordinance, and it has the National Authority on
Tobacco and Alcohol. Excise licences are issued to Tourist Board approved establishments,
under the Excise Notification No 902 published on 10th April 2008 in the Extra Ordinary
gazette No. 1544/17. www.excise.gov.lk

Mr A Bodaragama (+94) 077 7809128 excisen@slt.lk Mr DGMV


Hapuarachchi (+94) 11 230 0167 dgmvasantha@yahoo.com
1Where can I find participation in
. statistics on Sri many sectors of
Lanka Tourism? the economy,
Information and such as tourism.
current statistics The BOI will
on Sri Lanka provide
Tourism could be automatic
obtained easily by approval for
logging on to such
www.sltda.lk/statis investments.
tics Foreign
investment
including travel
agencies,inboun
d tour operators
are restricted to
40%.
How safe is it
to invest in Sri
2Lanka?
. The safety of 5 What is the
foreign investment . scope of
is guaranteed concessions
through the given to
enactment of a foreign
two-third majority investors? BOI
of Parliament companies that
(Constitutional meet specific
Guarantee of criteria such as
Investment size of total
Protection investment,
Agreements). type of
Under Article 157 investment, and
(Sri Lanka location of
Constitution), no investment,
legislative qualify for tax
executive or holidays ranging
administrative from 3-7 years.
action can be In addition, a
taken to concessionary
contravene the rate of income
provisions of a tax of 12% up to
bilateral a maximum
investment period of 20
agreement years is also
otherwise than in extended to
the interests of these
national security. companies.
3How does a 6 Are there any
. foreign company . restrictions on
invest in Sri 7 the
Lanka? What are . repatriation of
the regulations profits earned
pertaining to in Sri Lanka?
issue of shares No. The
by Sri Lankan government
companies to allows 100%
foreign repatriation on
collaborators/ earnings, fees
B) Exemption Any foreigner
principle Income who visits Sri
exempted is not Lanka for the
taken into purpose of
consideration for seeking
the determination investment
of tax to be opportunities on
imposed on the several
taxpayers other occasions within
income. a year may be
eligible for a
Multiple Entry
visa, which is
Tax Sparing Credit valid up to 12
relief is also months and
provided in some costs
double taxation LKR10,000/-
agreements (USD 100).
to prevent the loss The visa can be
of double taxation easily obtained.
credit negating An application
the incentives can be
offered to downloaded
taxpayers in the from the
form of tax website or
holidays and tax obtained from
concessions in the Department
developing of Immigration
countries. Such and Emigration
credits are or the Sri Lanka
generally given for Missions office.
Dividends,
Interest or
Royalties or tax
spread under a
tax holiday or on 1 Would
the profits of 2 investing in
subsidiaries out of Sri Lanka
which dividends Tourism grant
have been paid. me a visa to
How does Sri live in Sri
Lankas tax Lanka with my
system family? Yes!
operate? Sri Resident visas
Lanka has a can also be
transparent, low- obtained for
8 tax regime, and expatriate
. has signed double personnel
taxation relief whose services
agreements with are required for
26 countries. approved
These agreements projects,
provide for expatriate
reduced tax rates personnel
employed in
projects under
Board of
Investment of
Sri Lanka,
NOTE
S