Condominium Investment Visa

Sri Lanka's Condominium Investment Visa is a long-term residence visa that enables foreign nationals to obtain residency through the purchase of approved condominium properties. Launched in May 2023 by the Board of Investment of Sri Lanka (BOI) in collaboration with the Department of Immigration, the program offers the lowest entry point among Sri Lanka's investor visa options at USD 75,000 for a suburban property. It covers both completed units and under-construction or off-plan developments registered with the Condominium Management Authority.

• Purchase of an approved condominium property registered with the Condominium Management Authority (CMA)
• Investment deposited in an Inward Investment Account (IIA) at a licensed commercial bank
• Police clearance certificate from home country
• Medical clearance from an authorized local hospital (free of malaria, filariasis, tuberculosis, and HIV/AIDS)
• Valid passport

• Individual -- Suburban: USD 75,000 minimum, 5-year extendable visa
• Individual -- Urban: USD 150,000 minimum, 5-year extendable visa
• Individual -- Urban (10-year): USD 200,000 minimum, 10-year non-extendable visa
• Corporate: USD 500,000 minimum (urban or suburban), 5-year non-extendable visa covering up to 4 directors with spouses and dependants

• Completed visa application form
• Evidence of deposit in an Inward Investment Account (IIA) via bank statement
• Letter from the developer confirming property purchase or purchase intention
• Valid passport
• Medical clearance report
• Police clearance certificate from home country
• Photographs (3.5 x 4.5 cm)

Individual suburban and urban 5-year visas are extendable. The individual 10-year urban visa (USD 200,000) is non-extendable. Corporate 5-year visas are non-extendable. The annual visa fee is USD 200 per person.

Individual investors may include their spouse and dependants under the same visa. Corporate investors may include up to 4 directors along with their spouses and dependants. Each person pays USD 200 per year. Standard documentation (marriage certificate, birth certificates, medical clearance, police clearance) is required for all dependants.

Applicants must first deposit the investment amount into an Inward Investment Account (IIA) in any foreign currency at a licensed commercial bank in Sri Lanka. A single bank statement showing the full amount is preferred. The applicant then obtains a letter from the condominium developer confirming the property purchase or purchase intention. With these documents, the visa application is submitted to the Department of Immigration and Emigration.

Processing time: Approximately 5 working days following ministerial review

Fee: USD 200 per year per person

Applications can be submitted online through the Department of Immigration portal or in person at the Department of Immigration and Emigration in Battaramulla.

Foreigners cannot purchase freehold land in Sri Lanka but may acquire condominium units. Only condominiums registered with the Condominium Management Authority and approved for foreign purchase are eligible. The distinction between "urban" and "suburban" areas affects the investment threshold and visa tier. Sri Lanka does not offer permanent residency, and there is no direct pathway to citizenship through this program. Standard overstay penalties apply: USD 250 for 7-14 days and USD 500 for overstays exceeding 14 days.