Outward Investment Account(OIA) is a special account for resident investors in Sri Lanka to channel funds abroad for eligible overseas investments such as investment in Shares and debt securities of companies incorporated outside Sri Lanka, Units in regulated unit trusts, Sovereign Bonds issued by foreign governments and to set up overseas office.
- Account may be opened in any designated foreign currency.
- A resident investor shall open and maintain all OIAs with a single licensed commercial bank.
- All investments must be made through Outward Investment Account maintained by the investor.
Eligibility
- An individual resident in Sri Lanka.
- A partnership registered in Sri Lanka.
- Companies registered under the companies act No.7 of 2007 other than a company limited by gurantee.
Investment Limits
| Eligible Resident Investor | Type of Investments | Permitted Limits |
|---|---|---|
| A company listed in the Colombo Stock Exchange | Shares Units, Debt securities and Sovereign Bonds. | USD 2,000,000 or an equivalent amount in any designated foreign currency, per calendar year. |
| A company not listed in the Colombo Stock Exchange | USD 500,000 or an equivalent amount in any designated foreign currency, per calendar year. | |
| A partnership registered in Sri Lanka | USD 300,000 or an equivalent amount in any designated foreign currency, for life time. | |
| An individual | USD 200,000 or an equivalent amount in any designated foreign currency, for life time. | |
| A company or a partnership | Setting up of overseas office | USD 300,000 or an equivalent amount in any designated foreign currency, per calendar year. |
Permitted Credits
- Sri Lankan Rupee proceeds converted into foreign currency, up to the investment requirement.
- Funds transferred from Business foreign currency account (BFCA) or another OIA of the same account holder.
- Proceeds of loan obtained from a foreign source through an Inward Investment Account.
- Investment related remittances.
Permitted Debits
- Payments related to capital transactions undertaken by the account holder in terms of the permissions granted under the provisions of the Foreign Exchange Act No.12 of 2017.
- Transfers to Personal foreign Currency Account (PFCA) and Business Foreign Currency Accounts (BFCA) of the account holder as capital and capital gains received from an overseas capital transaction into an OIA, where the investment had been made by debiting same PFCA or BFCA.
- Withdrawals in LKR
- Transfers to another OIA of the account holder.
- Transfers to Rupee Accounts of the account holder.