This account enables companies incorporated outside Sri Lanka and registered as overseas companies under the company's Act No. 07 of 2007 in Sri Lanka to carry on business in Sri Lanka such as Branch Office, Project Office, Liaison Office, Representative Office or Similar Office.
Opening of Account
A rupee current account "Inward Investment Account" (IIA) could be opened / maintained for this purpose.
An overseas company registered under the Companies Act No. 07 of 2007 in Sri Lanka may carry on business in Sri Lanka in
Type A - Any commercial, trading or industrial activity other than those specified in schedule I (please
refer annexure) and activities specified in schedule II (please refer annexure) with the prior
written permission from the Controller of Exchange.
Type B - Any non commercial, non trading or non industrial activity such as activities undertaken or
carried on by Liaison Office, Representative Office, Regional Office or other similar office
provided such activities do not provide any income directly or indirectly to the company.
Type A - Investment of a minimum of USD.200,000/- or equivalent amount in designated foreign currency
out of an inward remittance received from abroad through the banking channels and provide
evidence of remittance to the Registrar of Companies within 30 days of registration.
Type B - Shall remit the funds required for the maintenance of Liaison Office, Representative Office,
Regional Office or other similar offices from abroad in designated foreign currency via Inward
Permitted deposits to IIA
Permitted withdrawals from IIA
a) Remittance of profit, Royalty, Franchise or other similar payments or surplus funds net of tax
subject to submission of the relevant documents.
b) Local expenses in Rupees of the overseas company.
Any other withdrawals and deposits to this account require prior approval of the Controller of Exchange.
This account cannot be overdrawn under any circumstances.