- (1) A Sri Lanka national who has been a resident of Sri Lanka and has obtained Permanent Residency (PR) or citizenship in another country, including a dual citizen (hereinafter referred to as an emigrant) is eligible for the migration allowance, which includes proceeds realized from the sale of movable and immovable property, tangible and intangible assets owned by the emigrant and gifts received by the emigrant from the spouse and parents. Assets may include the value of precious stones, precious metals, personal jewellery and other assets held in Sri Lanka including estates inherited as beneficiaries.
- (2) Following limits shall be applicable for the transactions specified in paragraph (1) of heading B above-
- Remittance of migration allowance up to a limit of USD 30,000 per individual in respect of a Sri Lankan emigrant, as per the Gazette (2182/37 dated 02.07.2020) issued by the Government of Sri Lanka .
- Emigrants who have already claimed the Migration allowance can remit the annual migration allowance up to a maximum limit of USD 20,000 during the effective period of above Gazette order 2182/37 dated 02.07.2020
- an annual allowance of USD 30,000 in respect of foreign nationals as proceeds from sale of inherited property and assets in Sri Lanka subject to the directions issued by the Central Bank of Sri Lanka.
- (3) The migration allowance should be remitted out through a Capital Transaction Rupee Account (CTRA) opened with a licensed commercial bank as an authorized dealer or a licensed specialized bank as authorized under paragraph (2) of regulation 2.
- (4) Eligible migration allowance as approved by the licensed commercial bank as an authorized dealer or a licensed specialized bank as authorized under paragraph (2) of regulation 2 can be transferred from Capital Transaction Rupee Account to applicant’s Personal Foreign Currency Account and/or Inward Investment Account in Sri Lanka or transferred to an account of the emigrant maintained outside Sri Lanka.
- (5) Current income (including interest, dividends, pensions, rent, lease rentals and profits) and superannuation benefits (Employees Provident Fund (EPF), Employees Trust Fund (ETF), gratuity and any other approved pension or retirement fund) shall be credited to the Capital Transaction Rupee Account and can be transferred in addition to the migration allowance to Personal Foreign Currency Accounts and/or Inward Investment Account in Sri Lanka or to an account maintained by the emigrant outside Sri Lanka.
Please refer the required documents
Emigrants and/or foreigners of Sri Lankan origin shall obtain prior approval of the Central Bank of Sri Lanka to open and maintain foreign exchange accounts in any designated foreign currency for the purpose of crediting proceeds/income of inherited assets derived in foreign currency, if any, for such person.
* Terms & conditions may vary according to the guidelines issued by the Central Bank of Sri Lanka and Gazettes issued by the Government of Sri Lanka from time to time.