SFIDA - Special Foreign Investment Deposit Account

“A Special Deposit Account”

NSB now operates SFIDA accounts enabling those who are abroad to invest rupee deposit at an attractive interest rate.

Who can open an account?

Foreign nationals, institutions incorporated outside Sri Lanka, foreign institutional investors, foreign regional funds and our own Sri Lankans domiciled abroad.

Accounts could be maintained jointly amongst the eligible investors.

What are the guidelines for SFIDA accounts?

• These accounts could be either in savings or fixed deposits.
• Minimum investment USD 10,000/- or equivalent in AUD, GBP, EUR or Sri Lankan rupees. (Sri Lankan rupee deposits are to be funded by Inward remittance/s).
• Funds in Sri Lanka rupee (SFIDA) accounts plus accrued interest could be freely reconverted in to USD, AUD, EUR or GBP at the time of repatriation of such funds.
• Repatriation of capital plus Interest is free of exchange control restrictions.

How to remit money to SFIDA account?

SFIDA accounts essentially has to be funded by inward remittances or in the form of travellers cheques, drafts or currency notes brought into the country by the account holder on declaration to Sri Lanka customs.

Interest earned on SFIDA accounts is exempted from income tax, withholding tax and debit tax.

For interest rates

 

For more details contact NSB Call Centre- (+94 - 11 2379379) 24 Hour Service