PFCA’s are an amalgamation of previous Resident Foreign Currency Accounts (RFC), Non-Resident Foreign Currency Accounts (NRFC), Resident Non- Nationals’ Foreign Currency Accounts (RNNFC) and Non-Resident Non-National Foreign Currency Accounts (NRNNFA)
Business Foreign Currency Account
BFCA’s are an amalgamation of “Foreign exchange Earners Accounts” (FEEA), “Inward Remittances Distribution Account” (IRDA) and “Foreign Currency Account for an Agent of Foreign Shipping Line/Airline” (FCAASA) of previous Exchange Control Act.
Outward Investments Account
Outward Investment Account(OIA) is a special account for resident investors in Sri Lanka to channel funds abroad for eligible overseas investments such as investment in Shares and debt securities of companies incorporated outside Sri Lanka, Units in regulated unit trusts, Sovereign Bonds issued by foreign governments and to set up overseas office.
|A Company incorporated in Sri Lanka, under the Companies Act No 7 of 2007 other than a company limited by guarantee.|
|A Licensed Commerical Bank or Licensed Specialized Bank, in terms of the Banking Act No 30 of 1988.|
|A Regulated / licensed entity, under the Central Bank, Securities Exchange Commission, Insurance Regulatory Commission of Sri Lanka.|
|A Partnership, registered in Sri Lanka.|
|An individual resident in Sri Lanka.|
|A Proprietorship registered in Sri Lanka by an individual resident in Sri Lanka.|
Inward Investments Account
IIA is an amalgamation of “Securities Investment Accounts” (SIAs) and “Special Foreign Investment Deposit Accounts” (SFIDAs) opened and maintained in foreign currencies and in Sri Lanka Rupees of previous Exchange Control Act.
|A non – national, resident in or outside Sri Lanka.|
|A Sri Lankan dual citizen, resident in or outside Sri Lanka.|
|A Sri Lankan national who has obtained Permanent Residency status or Citizenship in another country, resident in or outside Sri Lanka.|
|A Sri Lankan citizen employed abroad, resident outside Sri Lanka (excluding emigrants)|
|A Company incorporated outside Sri Lanka.|
|A Partnership registered outside Sri Lanka.|
|Country funds,regional funds, mutual funds, unit trusts and foreign institutional investors established outside sri lanka.|
|An administrator or executor of the estate of a deceased person,who maintained an IIA with an AD.|
|A receiver or liquidator of a company that maintained an IIA with an AD.|