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Senior Foreign Nationals Special Accounts
Who can open a Senior Foreign Nationals Special Account?
The My Dream Home scheme is opened to all senior foreign nationals over 55 years of age who wish to prolong their stay in Sri Lanka on Residence Visa.
The following accounts can be opened:
A - Senior Foreign National "Fixed Deposit Foreign Currency Accounts" (SFNFDA)
B - Senior Foreign National "Rupee (Savings/Current) Accounts" (SFNRA)
What documents are required to open these Accounts?
1. Relevant mandates(FD/Savings) duly completed
2. Letter of request from the applicant
3. Photo copy of the passport (relevant pages where photograph and personal details are available)
4. Introduction from your bankers overseas
A - Senior Foreign National "Fixed Deposit Foreign Currency Accounts" (SFNFDA)
A minimum deposit of USD 15,000 or equivalent in other convertible foreign currencies, is required.
Deposits
Will be opened with an initial sum of USD 15,000 or an equivalent amount in any convertible foreign currency brought into the country through banking channels.
Withdrawals
Withdrawals are permitted with the prior approval of the Controller of Exchange when the account holder decides to terminate his/her stay in Sri Lanka.
Interest
The interest rates applicable to Non Resident Foreign Currency (NRFC) Accounts will apply.
B - Senior Foreign National Rupee (Savings/Current) Account (SFNRA)
In addition to the deposit account under category "A", a monthly remittance of USD 1,500 for the principal applicant and USD 750, or equivalent in other foreign currency, for accompanying spouse and each dependant child for their upkeep in Sri Lanka shall be deposited in these accounts under the account holder's name.
Accounts in this category should carry a minimum balance of USD 1,500 or equivalent.
Deposits
Credits to this account should be confined to:
1. Foreign currency brought into the country by the account holder for his upkeep (i.e. USD 1,500 per month) and for the upkeep of his/her spouse and other dependants (i.e. USD 750 for each dependant per month).
2. Interest paid on funds held in Senior Foreign National Fixed Deposit Foreign Currency Accounts (SFNFDA).
Withdrawals
Withdrawals to this account should be confined to:
1. Local expenses of the investor and his/her dependents.
Outward remittances by converting the rupees to Foreign Currency payments for current international transactions of the investor and/or dependants resident in Sri Lanka.
For further assistance, contact:
| Contact | : | Mr Dinesh Fernando Executive - Foreign Currency Deposit Mobilization & Outward Remittances |
| Telephone | : | 00 94 11 2661996 |
| Fax | : | 00 94 11 2662798 |
| : | dinesh.afernando@hnb.lk |
For further assistance, contact
Mr Dinesh Fernando
Executive - Foreign Currency Deposit
Mobilization & Outward Remittances
Hatton National Bank PLC.
Head Office, HNB Towers,
479, T B Jayah Mawatha,
Colombo 10, Sri Lanka.
Tel : +94 11 2661996
Fax : +94 11 2662798
E-mail : dinesh.afernando@hnb.lk
