SFIDA

Special Foreign Investment Deposit Account (SFIDA) is specially designed for foreign currency depositors, ideal for non-Sri Lankan citizens and non resident Sri Lankan citizens. It is the best way to enjoy higher interest rates on your foreign currency. If you're looking to capitalise on opportunities in the currency markets, SFIDA offers you an easy and flexible way to invest in foreign currencies, offering you a total tax free return. 

Features at a glance : 

  • A choice of designated currencies in which you can maintain your account 
  • Tax free returns 
  • Option of maintaining a foreign currency account or converting your foreign currency deposit to Sri lankan Rupees to enjoy a higher interest rate
  • A minimum account balance of US$ 10,000 or equivalent in other designated foreign currencies or LKR should be maintained
  • Permitted debits are outward remittances, transfers to other SFIDAs of the same account holder and disbursements in Sri Lanka in LKR
  • Permitted credits are proceeds of inward remittances received from abroad for the purpose of investing in such deposits 
  • Foreign currency in the form of travellers’ cheques, bank drafts or currency notes brought into the country by the account holder, provided that the travellers’ cheques have been issued outside Sri Lanka and the bank drafts endorsed in the name of the account holder and interest accruing in the funds can held in the account 

Who is SFIDA for? 

  • Non Sri Lankan citizens in foreign countries 
  • Citizens of foreign countries holding temporary visa to live or work in Sri Lanka 
  • Sri Lankan citizens employed overseas 
  • Corporate entities registered outside Sri Lanka 
  • Foreign institutional investors - Country Funds, Mutual Funds and Regional Funds

In the case of Special Foreign Investment Deposit Accounts (SFIDA) the minimum required to open an account will be USD 10,000/- or equivalent in other foreign currencies. Interest will be paid for SFIDA accounts only if the minimum balance of USD 10,000/- or equivalent is maintained. No interest to be paid for balances less than USD 10,000/- or equivalent in other foreign currencies.

 


CONTACT
General Enquiries:
Phone : +94 11 588 0880
Fax : +94 11 286 5606
Email : lofin@lankaorix.com
Address : 100/1, Sri Jayawardenapura Mawatha, Rajagiriya, Sri Lanka.