Overview
Overview
Securities Investment Accounts (SIAs) and Special Foreign Investment Deposit Accounts (SFIDAs) have been re-designated as IIA.
Eligibility to open an IIA
Eligibility to open an IIA
- A non- national, resident in or outside Sri Lanka.
- A Sri Lankan dual citizen, resident in or outside Sri Lanka.
- Sri Lankan national who has obtained Permanent Residency status or citizenship in another country, resident in or outside Sri Lanka.
- A Sri Lankan citizen employed abroad, resident outside Sri Lanka (excluding emigrants).
- A company incorporated outside Sri Lanka.
- A partnership registered outside Sri Lanka.
- Country funds, Regional funds, Mutual Funds, Unit Trusts and Foreign Institutional Investors established outside Sri Lanka.
- An administrator or executor of the estate of a deceased person, who maintained an IIA.
Eligible Investment Options Available
Eligible Investment Options Available
- Shares (both listed and unlisted)
- Units in Unit Trusts
- Savings/Term Deposits in LKR or Foreign Currency
- Government Securities (i.e. Treasury Bonds, Treasury Bills)
- Listed debt securities (i.e. Debentures)
- Immovable Property
- Purchasing Sri Lanka Development Bonds (SLDBs)
Key Benefits
Key Benefits
- The currency in which the account is maintained can be converted to any other designated currency at the discretion of the account holder.
- No exchange risk if placed in foreign currency.
- Re-conversion of rupees earnings to any designated foreign currencies.
Type of Accounts
Type of Accounts
- Savings Accounts
- Current Accounts (without overdraft and cheque drawing facilities)
- Fixed Deposits
Transactions related to IIA are subject to Foreign Exchange Regulations. For details on permitted debits and credits, please refer to the link below.
