The Golden Paradise Residence Visa is a special long-term residence visa launched by the Government of Sri Lanka in May 2022. The program offers 5-year and 10-year residence visas to foreign investors who deposit funds into a Golden Paradise Foreign Currency Account (GPFCA) at a licensed commercial bank. It confers authorization to invest, live, and study in Sri Lanka, positioning it as both a residency and lifestyle program. After the first year, investors may withdraw up to 50% of the deposit to deploy into approved investments including government projects, condominiums, leasehold property, and Sri Lanka Development Bonds.
Note that official sources currently disagree on the qualifying deposit for the 10-year visa: the Department's e-services program page states USD 200,000 (with up to 50% withdrawable after the first year), while the current "Golden Paradise Visa" brochure states a minimum deposit of USD 100,000 with a USD 50,000 minimum balance maintained from the second year onwards. Applicants should confirm the current figure with the Department before applying.
The visa is offered as a 5-year tier (USD 100,000 deposit) and a 10-year tier. The total visa fee is USD 2,000 for the 10-year visa, payable for the full period (effectively USD 200 per year). After the first year, investors may withdraw up to 50% of the minimum investment amount to deploy into approved categories: government-approved investments, condominium property, lands and buildings on a lease basis, and Sri Lanka Development Bonds. The deposited sum can only be withdrawn in full after cancellation of the visa.
Spouse and children below 16 years of the main applicant are eligible. Marriage certificates and birth certificates must be provided. Police clearance is required for the spouse. Medical clearance is required for all family members. The investment is released upon cancellation of the visa for the holder, spouse, and all dependants.
Visa holders must comply with Sri Lanka's tax laws. Specific tax treatment depends on the holder's residency status and applicable double taxation agreements.
Applicants residing outside Sri Lanka first submit a Residence Visa application through the official Department of Immigration website and pay the visa fee. Successful applicants are then invited to submit supporting documents by email to [email protected], including the completed application, a police clearance report obtained within the previous 6 months, a medical report, a passport biodata page copy, and the Ministry of Defence Personal Particular Form. The Personal Particular Form and police clearance are forwarded to the Ministry of Defence for security clearance; if clearance fails, the granted visa is cancelled. After clearance, the Department issues a letter to the applicant's commercial bank to open the GPFCA. Once the Central Bank or commercial bank confirms the remittance and the visa fee is paid, the Golden Paradise visa is issued. Applicants already in Sri Lanka follow a parallel in-person process at the Department's head office.
Fee: USD 2,000 for a 10-year visa (full period); USD 200 per year per dependant
Applications can be submitted online at eservices.immigration.gov.lk or in person at the Department of Immigration and Emigration.
Foreigners cannot purchase freehold land in Sri Lanka but may acquire condominiums and lease land for up to 99 years. Sri Lanka does not offer permanent residency, and there is no direct pathway to citizenship through this program. Dependant children must be below 16 years of age. Any material changes in circumstances must be reported to the Department of Immigration within 2 months.