Securities Investment Accounts (SIA)

 

Eligible entities to open an account

  • Foreign Institutional Investors including country funds, regional funds or mutual funds.
  • Corporate bodies incorporated outside Sri Lanka.
  • Citizens of foreign states whether resident in Sri Lanka or outside Sri Lanka.
  • Non- resident Sri Lankans

Deposits

  • Inward remittances received from abroad directly through international banking channels.
  • Transfer of funds from NRFC, SFIDA, RNNFC, SIA, NRNNFA and accounts maintained at an Off-shore Banking Unit by the account holder
  • Foreign Currency in the form of travellers' cheques, bank drafts or currency notes bought in to the country by the account holder on declaration to Sri Lanka customs, as applicable, during visits to Sri Lanka of the account holder and tendered in person to the authorized dealer, provided that the travellerrs' cheque have been issued outside Sri Lanka and the drafts issued by a bank outside Sri Lanka and endorsed in the name of the account holder.
  • Funds transferred to the credit of an SIA by another authorized dealer which receives an inward remittance for the eligible investor, in which case, a written confirmation shall be issued by the authorized dealer which transfers the funds that the said funds were received as an inward remittance.
  • Interest earned on funds lying to the credit to the account.