Eligibility

Any resident Company or Partnership registered in Sri Lanka or any individual resident in Sri Lanka rendering Services while based in Sri Lanka to any person resident outside Sri Lanka in the course of carrying on any profession or occupation listed below

• Services rendered by any individual as a member of an organized profession with a recognized standard of ability enforced before such person entering to it and recognized standard of conduct enforced while practicing in it;
• Accounting, book keeping or auditing;
• Tax advisory services;
• Services of a draftsman;
• Engineering services;
• Software development, data processing, data base development or system designing;
• Advertising outside Sri Lanka;
• Research work and Report writing;
• Photography;
• Publishing outside Sri Lanka;
• Beauty culture, hairdressing or modeling outside Sri Lanka;
• Services of a sports person or an artist;
• Services of a Valuer or Auctioneer;
• Services of a plumber, mason or carpenter;
• Quantity surveying;
• Health care services;
• Management of any agricultural property situated outside Sri Lanka.

Individuals employed by the eligible Services Providers above on permanent or contractual basis and entered into Agreements with such Services Providers to be remunerated on part or entirely in Foreign Currency for the Services rendered to such Employer while carrying on any profession or occupation.

Types of accounts:

Accounts may be opened in the categories

• Savings
• Fixed Deposits

In designated Foreign Currencies such as -

• US Dollars
• Singapore Dollars
• Canadian Dollars
• Sterling Pounds
• Australian Dollars
• Euro
• Swiss Francs
• Hong Kong Dollars
• Japanese Yens
• New Zealand Dollars
• Swedish Kroners
• Danish Kroners
• Norwegian Kroners
  
  

Foreign Currency Fixed Deposit Accounts may be opened for periods of 1,3, 6 and 12 Months.

 

Permitted Credits

• Proceeds on International Services received from abroad through Banking Channels in designated Foreign Currency.
• Employment income paid out of Foreign Currency received by an Employer for Exempt projects.
• Interest accruing on the funds held in the Account.

Permitted Debits

• Payments in Foreign Currency in the form of Bank transfers to employees directly involved in Exempt Projects carried out by the Employer.
• Payments in Foreign Currency outside Sri Lanka for transactions permitted to persons resident in Sri Lanka as per Exchange Control Regulations.
• Withdrawals in Sri Lanka Rupees.

Click here to download the account opening application form