Resident visas will be granted to foreign individuals who bring a large amount of foreign exchange into the country, Government Information Department said.
A Special Deposits Account act will be introduced for this purpose. Under the proposed act an individual who remits USD 300,000 will be granted 10 years residency while a minimum balance of USD 300,000 should be maintained throughout the 10 years.
Such visa holders will not be permitted to work in Sri Lanka but will be encouraged to start businesses in Sri Lanka. It will create employment opportunities for Sri Lankans or the possibility of working as business partners.
The legal draftsman will draft the Proposed Special Deposit Account Act for which the proposal was made by Finance Minister Ravi Karunanayake, said Minister of Parliament Reforms and Mass Media Gayantha Karunathila.
The Constitutional Council has approved four nominees, proposed by the President, to fill vacancies in the Court of Appeal.
The Election Commission has announced the plan for leave for both public and private sector employees for the upcoming presidential election on September 21, 2024, without loss of salary or personal leave.
The Ceylon Petroleum Corporation (CPC) will reduce fuel prices with effect from midnight today.
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