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IIA

Inward Investment Account (IIA) is a special account designated for eligible investor’s resident in or outside Sri Lanka to route funds to invest in the permitted investments.

  • The currency, in which the account maintained, can be converted to any other designated currency at the discretion of the account holder.
  • Can be opened individually, jointly or under business.
  • No exchange risk if placed in foreign currency.
  • Reconversion of Sri Lankan Rupee investments to any designated foreign currencies.
  • View details via Internet and Mobile banking.

Permitted Investment from IIA

  • Term deposits in banks.
  • Immovable properties.
  • Shares of Stock exchange listed & non-listed companies.
  • Government securities(Treasury bills, Treasury bonds)
  • Units in Unit Trusts or Mutual funds.
  • Granting loans to companies incorporated in Sri Lanka.

Type of Accounts
The following account types could be opened individually or jointly by eligible investors in Sri Lankan rupees or in any designated foreign currency.

  • Savings Account
  • Fixed deposit
  • Current Account (without cheque drawing facility)

Eligibility Criteria

  • Citizens of foreign states resident in or outside Sri Lanka
  • Sri Lankan citizens resident outside Sri Lanka
  • Non-national of Sri Lankan origin, resident outside Sri Lanka
  • Companies incorporated outside Sri Lanka
  • Foreign Institutional investors such as country funds, mutual funds and regional funds

Documents Required

  • Valid passport (visa where applicable)
  • Documents in respect of companies/Institutions.

Note: Other documents may be requested by the bank to ensure better customer service in the future.

  • Proceeds of inward remittance received from abroad through banking system for the purpose of the investment.
  • Foreign currency in a form of bank drafts or bank notes brought into the country by the account holder.
  • Interest accruing on the funds held in the account.
  • Dividents,sale or maturity proceeds, disposal of liquidation, capital redemption, share buyback, profits surplus funds, rental incomes, recovery of principal, interest or any other related income received from capital transactions undertaken in Sri Lanka as permitted under the provisions of the Foreign Exchange Act,No.12 of 2017.
  • Sales proceeds of immovable property including capital gains, leasehold rights, sub-lease hold rights, received in Sri Lanka Rupees where such investment made through IIA.
  • Outward remittances in favor of the account holder
  • Transfers to IIA,PFCA of the same account holder
  • Disbursement in Sri Lanka in Sri Lankan rupees
  • Payments relating to capital transactions undertaken in Sri Lanka by persons resident outside Sri Lanka in terms of the permissions granted under the provisions of the Foreign Exchange Act,No.12 of 2017.

 

Conditions 

  • Minimum balance requirement to earn interest:
Currency Minimum Balance
LKR 20,000.00
USD 100.00
GBP 100.00
EUR 100.00
AUD 150.00
JPY 15,000.00
  • For applicable fees visit service charges

 

Ready? Submit your IIA application online now or Download your application.

 

 

FAQ

Yes

Yes,can maintain in any designated currency.


Normal Savings Interest Rate

Interest Rate % p.a. AER %
Below LKR 999.99 0.00 0.00
LKR 1,000.00 to LKR 9,999.99 2.00 2.02
LKR 10,000.00 & above 2.50 2.53

Savings Accounts FCY

Currency Code Minimum Balance Interest Rates Aer
US Dollar USD 25 1.5000 1.5103
Sterling Pounds GBP 15 1.000 1.0046
EURO EUR 20 0.500 0.5011
Australian Dollar AUD 35 2.000 2.0184
Japanese Yen JPY 2,850 0.125 0.1251
Swiss Franc CHF 35 0.125 0.1251
Singapore Dollar SGD 45 0.250 0.2503
Canadian Dollar CAD 30 1.500 1.5104
Norwegian Kroner NOK 200 0.250 0.2503
Danish Kroner DKK 175 0.250 0.2503
Swedish Kroner SEK 200 0.150 0.1501
Hongkong Dollar HKD 200 0.125 0.1251
New Zealand Dollar NZD 35 1.000 1.0046
Chinese Yuan CNY 500 0.250 0.2503