The government will introduce a new methodology of issuing long-term residence visas for foreigners.
Cabinet yesterdat granted approval for the proposals submitted by the President as the Minister of Defence.
Accordingly, long-term residence visas lasting from 5 to 10 years will be granted to foreigners and directors, their spouses and their dependents of foreign companies who invest at least USD 75,000 or more in condominium properties.
The government will also Implement a programme named “Golden Paradise Visa Programme” that enables issuance of residence visas for 10 years for the foreigners who deposit at lease USD 100,000 in a commercial bank recognized by the Central Bank of Sri Lanka.
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