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The Board of Investment (BOI) recently launched the dedicated five-year residency visa program for BOI investors, stakeholders and companies. The issuance of long-term visas for investors has been practiced in accordance with international standards. Tied with the international benchmark for ease of doing business, the BOI decided to launch this program to attract more investors to the country.

The long-term visa program, a long-felt need, is primarily aimed at facilitating investors who wish to undertake a trip with the BOI. The BOI issues 7500-8000 visa recommendations for investors, employees and dependents annually. visas for foreign nationals from 109 countries such as India, UK, Japan, Korea, Malaysia and Pakistan which account for the most applicants based on last year’s statistics.

Addressing the gathering, Investment Promotion Minister Dhammika Perera said, “The happiness on the faces of the investors present at the occasion implies that the newly launched residency visa scheme is a success.”

“Before the implementation of this program, they had to go through a long documentation process every year to obtain these visas,” he pointed out.

“Having understood the paramount need to provide transparent and convenient service to investors, we launched the new program, although I did not officially assume the position of Minister of Investment Promotion,” Perera said.

BOI Managing Director Renuka M Weerakone said, “It is certainly a pleasure to see all of our long-time investors on this special launch day of the Long-Term Residence Visa Investor Scheme.

“You have all contributed 65% of export earnings to Sri Lanka and you have stood by us even in the difficult times our country has faced, which we wish to acknowledge with great gratitude,” he said. she pointed out.

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