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Special Foreign Investment Deposit Account (SFIDA)

Come home for the best returns

Special Foreign Investment Deposit Account (SFIDA)

Now foreign citizens/institutions and Sri Lankans resident overseas can invest in Sri Lanka and enjoy higher returns with a Special Foreign Investment Deposit Account.

Key benefits:


  • Investment can be maintained in a Sri Lanka Rupee account or foreign currency account (US Dollar, Sterling Pound, Euro, Japanese Yen or any other type of designated foreign currency).
  • It is exempt from all government taxes and levies.
  • Savings accounts or fixed deposits can be maintained.
  • Joint accounts can be maintained.
  • The investment is freely convertible to any designated foreign currency at prevailing exchange/remittance rates.

Eligibility:

  • A minimum deposit of US$ 10,000 or its equivalent in other designated foreign currency.
  • Citizens of foreign states.
  • Sri Lankan citizens resident outside Sri Lanka.
  • Corporate bodies incorporated outside Sri Lanka.
  • Foreign institutional investors such as country funds, mutual funds and regional funds.

Allowed credits to SFIDA:

  • Proceeds of inward remittances received banking system.
  • Foreign currency in the form of cheques, bank drafts or bank notes (provided the travellers' cheques have been issued in Sri Lanka and the bank drafts endorsed in the name of the account holder).
  • Interest accruing on the funds held in the account.

Allowed debits from SFIDA:

  • Outward remittances.
  • Transfers to other SFIDAs.
  • Disbursements of the account holder in Sri Lanka.
  • Relevant statutory payments.