Sri Lanka Government considers issuing of Multiple Visa for investors and businessmen as the govt. The Budget 2011 proposed the other day has presented several concessions to market foreign Direct Investment. The Central bank or investment company of Sri Lanka has calm exchange control regulations in this respect already. The Controller of Exchange has relaxed exchange control rules allowing foreigners to invest in rupee denominated debentures issued by local companies.
The new guideline also permits the local companies borrowing from foreign resources and the procedures and documents required to complete the process have been made by the Central Bank or investment company of Sri Lanka. Permission is also granted for international companies to open businesses in Sri Lanka and foreigners on tour or businesses in Sri Lanka can open accounts in force.
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The Multiple Visa will be released instead of the visitor visa being released for those immigrants. The Economic Development Minister Basil Rajapaksa has said traders visiting this country frequently for either business or investments use tourist visas for an extended period. They had to provide false information to visit the island.
“President Mahinda Rajapaksa is very keen to help traders and settle their problems regarding investments. The Budget also is designed to increase international investments in the country. The elected …