An attractive opportunity to invest in growth.

Since the end of Sri Lanka's three-decade civil war in 2009, the country has been on a fast track to achieving growth unmatched by most economies. Sri Lanka is poised to pull off average GDP growth of 8% per annum over the next five years, buoyed by sound fiscal and monetary policy, unprecedented growth in infrastructure development, evolution as tourism and transshipment hub, and a rapidly growing middle class. Sri Lanka's medium-term GDP growth forecasts rank it as South Asia's fastest-growing economy.

Securities Investment

Step 1 :

Open up a SIA Account.

The issuance of shares by resident companies to foreign investors (non-residents) are permitted without prior approval of the Exchange Control Department subject to certain exclusions and limitations. Movement of funds of such transactions must be through a scheme of account titled "Securities Investment Account(SIA).The SIA would be credited by inward remittances received in convertible foreign currencies from the investors. The dividends and sales proceeds realized on this investment account are remittable through this account.

Non-resident applicants have to open a SIA with a bank in Sri Lanka. The applicants could instruct overseas banks to open the SIA with their Sri Lankan corresponding bank (HSBC, Standard Chartered, Citi and Deutsche Bank operate in Sri Lanka). The CDS account can be opened only after the SIA is opened. If a Custodian Bank is involved, the Custodian Bank will open the SIERA and the CDS Account.

Step 2 :

Opening of CDS Account : Once the SIA account is opened, the CDS account can be opened. Along with the required documents, a letter is needed from bank in which the SIA account was opened informing the account details addressed to the CDS.

Individual Accounts – Foreign

• Application for Opening of Securities Account
• Other required documents
• • Copy of NIC / Passport
  • Utility Bills for proof of residency (dated within 3 months period)
  • SIA Account Details

Institutional Accounts- Foreign

• Application for Opening of Securities Account
• Other required documents
• • Filled forms should be authorised by 2 directors & the company embossed seal.
  • Copy of the company memorandum
  • Latest available top ten shareholder list
  • Details including director's names, Passport Numbers and addresses in a letter from company secretary
  • Board resolution
  • Copy of the "certificate to commence business" where relevant
  • Certificate of good standing
  • SIA account details.
  • All the relevant documents should be certified by a Sri Lankan diplomat or consular officer, solicitor, attorney-at-law or notary public.