Sri Lanka launches residency by real estate investment program

Article By Uglobal Staff

Sri Lanka, a small island country in South Asia, has announced it will soon be offering long-term residence to foreign condominium property holders, according to the Sri Lankan Board of Investment, which collaborated with the country’s Department of Immigration & Emigration and the Ministry of Defense to issue the new residency-by-investment program.

The program has many categories, and can be applied to by individuals or companies and businesses. The visa can be issued for five or 10 years, depending on the amount of the real estate investment and its location in the country.

For individuals, an investment of $75,000 in a property in a suburban area would qualify them for a five-year residency, while in urban areas it would set them back a minimum of $150,000. If it’s a 10-year-residency they’re seeking, they need to purchase property for at least $200,000 in an urban area.

Companies, alternatively, have a steeper price to pay. Companies are only eligible for the five-year visa, and to get they need to invest at least $500,000 in an urban or a suburban area, with the minimum unit price of their investment being $150,000 in an urban area and $75,000 in a suburban one.

It’s worth noting that the Sri Lankan Board of Investment is also actively engaged in building and selling housing units and luxury properties across Sri Lanka, with local media reporting that ‘the number of apartment units completed by the Board of Investment is approximately 5,000,’ in its attempt to attract dollars into the cash-stripped economy as well as meet the local market’s demands.

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Uglobal Staff
Uglobal Staff, along with its peer-reviewed magazines and conferences series, focuses on the global investment immigration market, offering the latest trends and analyses. is a media platform built to provide professionals involved with global programs with the most comprehensive and credible sources of information in digital, print and seminar mediums. The platform was created out of the need for marketplace transparency and to more efficiently connect individuals interested in learning about the global programs - either as a potential capital source or as a solution for their immigration needs. The Uglobal publication collaborates with a network of leading experts and an authoritative board of advisors to uphold a high standard in all content delivered and events hosted by the organization.

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