Rupee Account for Non Resident Sri Lankan Investment (RANSI)

RANSI account is for non resident Sri Lankans, that is if you are a Sri Lankan citizen who has proceeded abroad to take up employment or to set up a business in a profession and continue to live abroad, and if you are a citizen of Sri Lanka who have made your permanent place of residence outside Sri Lanka, you are exempted from all exchange control restrictions applicable to non resident investments provided that you remit foreign exchange earnings for investment through a RANSI account.

Funds channeled through RANSI account may be invested in shares, government securities, debentures, unit trusts and in real estate such as land and buildings. The account is to be maintained in Sri Lanka Rupees. Joint accounts are not permitted under this scheme.

Eligibility – Non resident Sri Lankans who are over 18 years of age

Documents Required
Clear copy of the Passport (indicating place of birth as Sri Lanka)
Clear copy of a utility bill or Other bank statement or Any other valid foreign address verification document

Permitted Credits
Income from investments such as interest, dividends, profit and rental income
Funds realized on the sale and liquidation of investment

Permitted Debits
Purchase of financial assets such as shares, government securities, debentures, unit trusts & real assets such as land and buildings
Outward remittances (repatriation)
Any other local disbursements



Share Investment External Rupee Accounts (SIERA)

SIERA is a rupee denominated account for non resident foreign Investors, for the purpose of investing in shares of Sri Lankan companies.

Eligibility – Non-resident Foreign Nationals over 18 years of age.

Documents Required
Clear copy of the Passport
Clear copy of a utility bill or Other bank statement or Any other valid foreign address verification document

Permitted Credits (subject to documentary evidence)
Inward Remittances
Transfer from NRFC/Off-shore accounts
Sale proceeds of shares and dividends earned on shares
Commissions relating to transaction of shares
Fees and any corporate benefits received by a non resident leader in respect of Shares lent to a borrower under the stock borrowing and lending scheme(SBL)
Cash collateral paid out of a SIERA of a non resident borrower and refunded to the same non resident borrower under the SBL scheme
Cash to be credited to the lender in the event of any failure to transfer shares by the borrower under the SBL scheme

Permitted Debits (subject to documentary evidence)
Expenses for the purchase of shares
Remittances of dividends of shares
Remittances of sale proceeds of shares
Local expenses of the account holder
Payment to stock brokers or commercial banks as commissions
Fees and funds required to pay corporate benefits to the security lender on shares borrowed by a non resident borrower under the SBL scheme Any cash collateral to be provided by a non resident borrower

Taxes: Exempt from local Government taxes and Stamp Duty