A special resident visa scheme will be introduced to the senior foreign nationals expecting live in Sri Lanka after their retirement, the Government announced.

Accordingly the Government has given the approval to the Department of Immigration and Emigration to implement the new visa scheme to the foreign nationals on arrival to the island.

The Department expects its new scheme would attract more senior foreign nationals to the country with their savings which would contribute to the national economy especially in tourism, real estate and other related sectors, said Controller General of Immigration and Emigration Department.
 
Under the previous system, foreign nations had to renew visas after each 6 month period of stay. This forced foreigners living in Sri Lanka to mostly fly to Maldives and return on the same day via the returning flight just to renew their visa.

Under the current scheme, foreign applicants should deposit US$ 15,000 or the equivalent in an approved foreign currency in an approved commercial bank.
 
They should deposit a monthly remittance of US$ 1,500 or equivalent in an approved foreign currency for the principal applicant and US$ 750 or the equivalent in approved foreign currency for each spouse and dependant child (if accompanied by spouse/children) to a savings or current account for their upkeep.
 
This residence visa issued is valid for a maximum of two years and is renewable depending on the conduct of the visa holder. "We will review the scheme to check whether it is suitable and whether the foreigners will benefit from it", said Abeykoon.
 
It is reported that a lot of foreigners took maximum advantage of the scheme once it was launched last month, saving the unnecessary trip to the Maldives.