Diplomatic Foreign Currency Accounts (DFCAs) and Diplomatic Rupee Accounts (DRAs)
Eligibility
- Foreign Diplomatic Missions.
- Diplomatic personnel who have been exempted from the requirement of obtaining resident visa issued by the Department of Immigration and Emigration.
- Family members of Diplomatic personnel in Sri Lanka who have been exempted from the requirement of obtaining resident visa issued by the Department of Immigration and Emigration.
Special Benefits
- Interest Rate
Please refer to https://www.peoplesbank.lk/interest-rates/ for latest interest rates.
- Inward Remittances credited to Accounts free of charge.
- 100% protection on your investments.
Required documents and information
- For individuals, account opening application, a photocopy of valid passport (pages depicting photo, details, Visa and endorsements for alterations) KYC Form, FATCA declaration and any other documents stipulated by the Bank from time to time.
- For Diplomatic Missions, account opening application as appropriate, KYC Forms, FATCA declaration and any other documents stipulated by the Bank from time to time.
- A Letter of Request signed by the Head of the Diplomatic Mission or an authorized official on a letterhead of the Mission, to open DFA/DRA.
General
- DFCAs may be opened and maintained as Savings, Current (without overdrawing facility) or Fixed Deposit accounts in the domestic banking unit in any designated Foreign Currency, i.e. USD, GBP, EUR, AUD, CAD, HKD, SGD, JPY, SEK, NZD, DKK, NOK, CNY, CHF, THB, and INR
- Diplomatic Rupee Accounts (DRA) also may be opened and maintained as Savings, Current (without overdrawing facility) or Fixed Deposit accounts in the domestic banking unit.
- DFCA and DRAs maintained by individuals may be held as sole or joint accounts with another eligible person.
External Commercial Borrowing Account(ECBA)
Eligibility
- Companies incorporated in Sri Lanka under the companies Act. No 7 of 2007
Special Benefits
- Attractive Interest Rates
General
- ECBA may be opened and maintained in the term as savings or fixed deposits in any designated foreign currency or in Sri Lanka Rupees and shall be held as sole accounts.
- Accordingly, facility has been made available to open accounts in USD, GBP, EUR, AUD, CAD, HKD, SGD, JPY, SEK, NZD, DKK, NOK, CNY, CHF, THB, INR and in LKR.
Required documents and information
- Duly completed account opening application
- Signature cards (Witnessed by the company secretary/relevant authority) from all Authorized signatories.
- Individual KYC and FATCA form for all Directors and Authorized signatories.
- Certified copies of Passport/NIC form all Directors/Authorized signatories.
- Beneficial Ownership forms from all Share Holders.
- E- Statement Application.
- Letter of Indemnity (Optional)
- Copy of Certificate of Incorporation certified by the Company Secretary.
- Directors/Authorized signatories’ name list with their signatories (in the company letter head)
- Copy of Articles of association, Form 01 or 20, form 15.
- Board Resolution on the company letterhead (applicable for a Limited Liability Company)
- Opening of account with People's Bank Overseas Customer services/ Respective Branch
- Operating instructions of the ECBA
- Authorized E-mail address for E-statement facility
- Details of the Power of Attorney (if any)
- Proper legally acceptable documentary evidence (as required) including the following information/documents
- A certified copy of the loan agreement including the repayment schedule.
- Profiles of the lender and borrower.
- A copy of the Resolution passed by the Board of Directors of the company, who is borrower for the approval on the proposed loan, certified by the company secretaries.
” Visa Programme Accounts “– Special Accounts
Product Features
Product Name :
- Visa Programme - Foreign Currency Accounts (VPFCA)
- Visa programme – Sri Lanka Rupee Account (VPRA
Eligibility
Persons eligible to open Visa Programme – Foreign Currency Accounts (VPFCA) and Visa Programme – Sri Lanka Rupee Account (VPRA)
- Foreign Nationals who wish to stay in Sri Lanka on resident visa under a particular visa scheme.
General
- VPFCAs shall be maintained as savings or term deposits in any designated foreign currency and shall only maintain one account in the banking system and such account may be held as joint accounts with the accompanying dependents.
- VPRAs shall be maintained as a current or savings account in LKR and shall only maintain one account in the banking system and such account may be held as joint accounts with the accompanying dependents.
- Banks shall ensure that under no circumstances, any capital transaction made outside Sri Lanka be effected through VPFCA or VPRA.
- Banks shall ensure that transactions/transfers permitted under these Directions specified in permitted Credits and Permitted Debits are carried out by the eligible account holders, in accordance with the terms and conditions of the respective Visa Scheme, and any other terms and conditions as may be prescribed by the Implementing Agency.
- Banks shall require prior permission of the Director with the concurrence of the Implementing Agency of the scheme, for any transaction/transfer to/from VPFCAs or VPRAs for any purpose which falls outside the purview of these Directions.
Required documents and information
- Account opening application, a photocopy of valid Passport(pages depicting photo, details, Visa and endorsements for alterations) KYC forms, FATCA declaration and any other documents stipulated by the Bank from time to time.
- Documents evidencing their eligibility to open Visa Program Foreign Currency Account (VPFCA) and Visa program Sri Lanka Rupee Account(VPRA).
Re designating the Existing Accounts
- All existing Senior Foreign Nationals' Fixed Deposit Accounts - Foreign Currency, Resident Guest Foreign Currency Accounts and Golden Paradise Foreign Currency Accounts, respectively, shall be re-designated and continue to be operated as Visa Programme Foreign Currency Accounts (VPFCAs) in terms of these Directions.
- All existing Senior Foreign Nationals' Rupee Accounts, Resident Guest Rupee Current Accounts - Investors and Resident Guest Rupee Current Accounts - Professionals, respectively, shall be re-designated and continue to be operated as Visa Programme Rupee Accounts (VPRAs) in terms of these Directions.
Manager - Foreign Currency Department , People’s Bank, Overseas Customer Services
+94 112332745
0112332746 / 2334278 / 2437621 / 2446409
nrfc@peoplesbank.lk