Sri Lanka has issued its first residence visa under the revised “Individual Investor” category, introduced in November 2023 to attract foreign direct investment. The inaugural visa was granted on October 1 to German national Dr. Pay Drechsel.
Under the scheme, foreign nationals can secure a five-year visa by investing at least USD 100,000, or a ten-year visa with investments of USD 200,000 or more, through a dedicated foreign currency account in a local bank.
Authorities say the initiative aims to encourage long-term capital commitments while offering investors the opportunity to reside in Sri Lanka.
- First Visa Issued
- Granted on October 1, 2025
- Recipient: Dr. Pay Drechsel, a German national
- Issued under the revised “Individual Investor” visa scheme
- Background & Regulations
- Scheme introduced under regulations gazetted in November 2023
- Overseen by the Ministry of Public Security and Parliamentary Affairs
- Investment Requirements
- 5-year residence visa → Minimum investment of USD 100,000
- 10-year residence visa → Minimum investment of USD 200,000
- Applicants must:
- Open a Visa Programme Foreign Currency Account (VPFCA) with a licensed commercial bank in Sri Lanka
- Deposit the required investment funds
- Policy Objectives
- Designed to attract foreign direct investment (FDI)
- Provides long-term residence opportunities to investors
- Encourages foreign nationals to commit capital to Sri Lanka’s economy
- Significance
- Marks the launch of a new investor-friendly immigration pathway
- Positions Sri Lanka as a competitive destination for international investors
- Expected to boost investor confidence and support economic development
