Sri Lanka has granted its first residence visa under the Individual Investor Category, following the amended Immigration and Emigration Regulations (Extraordinary Gazette No. 2360/24 dated 27 November 2023).
The visa was issued to Dr. Prey Drechsel, a German national, by Ananda Wijepala, Minister of Public Security and Parliamentary Affairs.
Under this program, a 5-year visa is available for US$ 100,000, and a 10-year visa for US$ 200,000, or the equivalent in foreign currency. Applicants must open a Visa Programme Foreign Currency Account (VPFCA) in a licensed Sri Lankan bank to deposit the required amount.
The initiative aims to encourage foreign investment in Sri Lanka, making it easier for investors to live and invest in the country.
