UNDER SECTION 16

UNDER SECTION 17150,000

  • 2 MONTHS
  • 150,000 LKR
  • ONLY PROFESSIONAL FEE

Board of Investment of Sri Lanka is empowered to approve projects under following categories.

Projects approved under Section 16 of BOI Law :

Projects are approved under section 16 of BOI Law, where the entry of foreign investment is permitted without any fiscal concessions. These projects are governed under Normal laws of the country and are subjected to Inland Revenue Laws, Custom Laws and exchange control regulations.These approvals are granted;

  • only to facilitate the entry of foreign investment
  • to setting up of a new company with foreign shareholdingor
  • for the purpose of transferring or issuance of new shares in an existing non-BOI company to foreign investors

At present the minimum investment requirement to qualify for the section 16 projects is US$ 250,000. This can be either 100% foreign investment or a joint venture investment with a local collaboration.

Foreigner has to remit a minimum of US$ 1 Mn if they are to undertake trading activity

The proposed foreign investment should be effected from funds remitted through a Securities Investment Account (SIA) as indicated in the Gazette Extraordinary No.1232/14 of 19th April 2002 published by the Controller of Exchange.

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