Saturday Jun 13, 2026
Saturday Jun 13, 2026
Wednesday, 10 June 2026 05:33 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers has approved the publication of a new set of regulations through Government gazette notifications under the provisions of the Foreign Exchange Act, to govern overseas investments by residents and the transfer of funds abroad by emigrants.
The approved measures include the Foreign Exchange (Investments Abroad by Residents of Sri Lanka) Regulations, No. 1 of 2026, the Foreign Exchange (Transfer of Funds Abroad by Emigrants) Regulations, No. 2 of 2026, and a new Order issued under Section 22 of the Foreign Exchange Act No.12 of 2017.
According to the Government, these regulations have been formulated on the recommendation of the Central Bank of Sri Lanka (CBSL).
The new regulations will replace the existing Foreign Exchange (Remittances from Sri Lanka by a Resident of Sri Lanka) Regulations, No. 1 of 2021 and the Foreign Exchange (Remittance of Funds by Emigrants) Regulations, No. 3 of 2021, which currently govern capital transactions carried out abroad by Sri Lankan residents and fund transfers by emigrants.
The Government noted that remittances under the existing framework have been subject to various restrictions imposed through orders issued under Section 22 of the Foreign Exchange Act, including those contained in Extraordinary Gazette No. 2467/67 dated December 18, 2025.
“The move is aimed at streamlining the regulatory framework governing foreign exchange transactions and overseas capital transfers,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.
He noted that the CBSL has recommended repealing the current regulations and replacing them with updated provisions while issuing a new order to maintain the restrictions presently in force.
