Setting up in Sri Lanka

Exchange Control Regulation

Exchange Control exemption is granted for Export-oriented projects under Sec. 17 of BOI Law and Strategic Development Projects. At present, a project is considered as an export oriented project only if it exports 90% of goods produced (60% for Apparel & Ceramic) or services (with 70% turnover in convertible foreign currency). Parts I, IA, II, III, IV V & VI of the Exchange Control Act are exempted for these companies and they are entitled to open and operate Foreign Currency Banking Unit (FCBU) account in any commercial bank in Sri Lanka.