Best Golden Visa Lawyers in Sri Lanka

About Golden Visa Law in Sri Lanka:

Golden Visa in Sri Lanka is a program that allows foreign investors to obtain residency by making a significant investment in the country. This visa program aims to attract foreign capital, stimulate economic growth, and create jobs in Sri Lanka.

Why You May Need a Lawyer:

It is advisable to seek legal assistance when applying for a Golden Visa in Sri Lanka to ensure that all legal requirements are met and the application process is smooth. A lawyer can provide guidance on the eligibility criteria, investment options, and any legal issues that may arise during the application process.

Local Laws Overview:

Key aspects of local laws relevant to Golden Visa in Sri Lanka include the minimum investment amount, eligible investment types, residency requirements, and the application process. It is important to understand these laws before applying for a Golden Visa to avoid any complications or delays.

Frequently Asked Questions:

Q: What is the minimum investment amount required for a Golden Visa in Sri Lanka?

A: The minimum investment amount for a Golden Visa in Sri Lanka is currently set at $250,000.

Q: What are the eligible investment types for a Golden Visa in Sri Lanka?

A: Eligible investment types include real estate, business investments, government bonds, or a fixed deposit in a local bank.

Q: How long is the residency granted through a Golden Visa in Sri Lanka?

A: Residency granted through a Golden Visa in Sri Lanka is typically valid for five years and can be renewed thereafter.

Q: Can family members be included in the Golden Visa application?

A: Yes, family members such as spouses and children under 21 years old can be included in the Golden Visa application.

Q: Are there any restrictions on employment for Golden Visa holders in Sri Lanka?

A: Golden Visa holders are not allowed to engage in any form of employment in Sri Lanka unless they obtain a separate work permit.

Q: Can I apply for permanent residency or citizenship through the Golden Visa program in Sri Lanka?

A: The Golden Visa program in Sri Lanka does not automatically grant permanent residency or citizenship. However, there may be options to apply for permanent residency or citizenship through other means after holding a Golden Visa for a certain period.

Q: Are there any tax benefits for Golden Visa holders in Sri Lanka?

A: Golden Visa holders in Sri Lanka may be eligible for certain tax benefits, such as exemptions on foreign income and capital gains tax. It is advisable to consult with a tax advisor to understand the tax implications of holding a Golden Visa.

Q: What are the common reasons for Golden Visa application rejection in Sri Lanka?

A: Common reasons for Golden Visa application rejection may include incomplete documentation, failure to meet the minimum investment amount, or concerns related to the the source of funds for the investment.

Q: Can I invest in a business in Sri Lanka to qualify for a Golden Visa?

A: Yes, investing in a business in Sri Lanka is an eligible investment type for a Golden Visa. The business must meet certain criteria and generate employment opportunities for Sri Lankans.

Q: How long does it take to process a Golden Visa application in Sri Lanka?

A: The processing time for a Golden Visa application in Sri Lanka can vary, but it typically takes around 3-6 months from the date of submission.

Additional Resources:

For more information on Golden Visa in Sri Lanka, you can visit the Department of Immigration and Emigration or consult with a legal firm specializing in immigration law.

Next Steps:

If you require legal assistance with your Golden Visa application in Sri Lanka, it is recommended to seek advice from a qualified immigration lawyer who can guide you through the process and ensure compliance with local laws and regulations.