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Ten-year PR visas for foreign investors
View(s):The government will extend Permanent Resident visas for up to ten years to attract long-term foreign investors, a senior minister said.
Home Affairs Minister Vajira Abeywardena said the move was intended to attract more foreign direct investments to the condominium industry. “At present, to secure a five-year PR visa, an investor has to deposit US$ 300,000. Under the new scheme, the deposit amount would be increased up to US$ 500,000 for a ten-year PR visa,” he said, adding that more investor-friendly visa regulations would be adopted soon.
A relevant Amendment bill to the Immigrants and Emigrants Act was gazetted this week, introducing the ten-year PR visa.