Inward Investment Accounts (IIA)

  • A non - national resident in or outside Sri Lanka.

  • A non - national of Sri Lankan origin, who is a resident outside Sri Lanka.

  • A Sri Lankan citizen, resident outside Sri Lanka.

  • A Company incorporated outside Sri Lanka.

  • Country and Regional Funds, Mutual Funds, Unit Trusts and other Institutional investors who are established outside Sri Lanka.

  • An administrator or executor of a deceased person, in the name of such deceased person who maintained an Inward Investment Account with that authorized dealer until the completion of the administration of the deceased person’s estate.

  • A receiver or liquidator of a Company that maintained an Inward Investment Account with that authorize dealer until proceedings are concluded.

  • All existing SIAs and SFIDAs shall be re-designated as Inward Investment Accounts (IIA).

  • Accounts may be opened and maintained in the form of saving, current or term deposit accounts in designated foreign currencies and in Sri Lanka Rupees.

  • IIA shall not be overdrawn and no accommodation shall be extended to IIA holders.

  • IIAs maintained by individuals may be held as sole or jointly with another eligible person.

  • IIA may be closed only after disposing all the investments acquired by the account holder through the said IIA.

  • However, in the event an IIA holder requests for a closure of the IIA before disposing the investments made through the same, for the purpose of opening a new IIA or transferring funds to an IIA with another Bank, the Bank with whom the original IIA is held shall forward to the Bank who operates the recipient IIA, a confirmation of the outstanding investments made out of the funds in the IIA to be closed, at the request of the account holder.