Notification on section 22 of the Foreign Exchange Act, No. 12 of 2017 (dated 20/12/2023) – Ministry of Finance, Economic Stabilization and National Policies
View Pdf– Notification on section 22 of the Foreign Exchange Act, No. 12 of 2017 (dated 20/12/2023) – Ministry of Finance, Economic Stabilization and National Policies.
- The Ministry of Finance, Economic Stabilization, and National Policies has issued a notification outlining various restrictions and suspensions. These include limitation of migration allowance upto maximum of USD 50,000 for New emigrants, USD 20,000 for Repatriation of funds for emigrants, USD 20,000 for Temporary Residence Visa, USD 10,000 for People leaving Sri Lanka, Suspended payments through outward investment accounts, USD 100,000 for Capital transactions through business foreign currency accounts, and USD 20,000 for Capital transactions through personal foreign currency accounts. Additionally, Section 7(10) of the Act allows the Central Bank to grant permission for investments exceeding these limits. Please refer the notification for more details.
