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PFCA

Personal Foreign Currency Account

What is PFCA?

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)

You can apply if
  • An individual including a minor who is a Sri Lankan national.
  • An individual of Sri Lankan origin including a minor who is a resident outside Sri Lanka.
  • A non-national resident in Sri Lanka.
  • A Non-national either on temporary visit to Sri Lanka or intending to visit Sri Lanka.
  • An administrator or executor of the estates of a deceased person, who maintained a personal foreign currency account with that authorized dealer or restricted dealer until the completion of the administration of the deceased person’s estate
Account Types
  • Savings Accounts
  • Current Accounts (without cheque drawing facility)
  • Fixed Deposits
BFCA

Business Foreign Currency Account

What is BFCA?

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.

You can apply if
  • An individual resident in Sri Lanka.
  • A sole proprietorship or partnership registered in Sri Lanka where the proprietor or a majority of partners are resident in Sri Lanka (in case of a partnership with two partners, at least one partner shall be a resident in Sri Lanka).
  • A company incorporated in Sri Lanka.
  • A company incorporated outside Sri Lanka which is registered as an overseas company under the Companies Act No 7 of 2007.
  • A State Institution with the recommendation of the Secretary to the relevant line Ministry or appropriate Authority.
  • A person authorized to carry on business as a shipping agent or a general sale agent in Sri Lanka on behalf of a foreign shipping line or airline (foreign principal) with a valid license or authorized letter issued by the Director General of Merchant Shipping and Director General of Civil Aviation Authority of Sri Lanka respectively.
  • An administrator or executor of the estate of a deceased person, who maintains a Business Foreign Currency Account with that authorized dealer or restricted dealer, until the completion of the administration of the deceased person’s estate.
  • A receiver or liquidator in the name of a company that maintained a Business Foreign Currency Account with that authorized dealer or restricted dealer, until proceedings are concluded.
Account Types
OIA

Outward Investments Account

What is OIA?

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.

You can apply if
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.
IIA

Inward Investments Account

What is IIA?

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.

You can apply if
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.
What's Next?

So go ahead, apply nowcall us or let’s chat and we’ll get you going on saving up and growing your hard earned foreign currency like you’ve never done before.

Contact the nearest branch or call us on 0117640640  for more details.

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