President Gotabaya Rajapakse has approved the “Golden Paradise Program” presented by renowned Sri Lankan business mogul Dhammika Perera to help overcome Sri Lanka’s worsening foreign exchange crisis.
The President has instructed the President’s Secretary to make the necessary arrangements to implement the resolution within a week.
Some of the suggestions presented through the program are directed towards foreigners seeking residency in Sri Lanka. The proposal states that a foreigner seeking residence must open a bank account in Sri Lanka and deposit $100,000. After a year, they would be able to withdraw up to $50,000. From the second year onward, they must maintain a bank balance of at least $50,000 throughout their stay.
Calculations suggest that if Sri Lanka is able to attract 50,000 foreigners, it would be possible for the government to bring in around $5 billion to the forex starved nation.
The program also proposed the introduction of 10-year visas to foreigners who have a monthly income of more than $2000 and those over the age of 60.
No.820, Mount Cresent,Malabe,Sri Lanka