Insights to forex regulations relating to investments in SL by non-residents

Monday, 26 May 2025 03:32 - - {{hitsCtrl.values.hits}}

Institute of Chartered Corporate Secretaries of Sri Lanka CPD program tomorrow

The Institute of Chartered Corporate Secretaries of Sri Lanka (ICCSSL), has scheduled a CPD program on Foreign Exchange Regulations Relating to Investments in Sri Lanka by Non- resident Investors, in collaboration with the Central Bank of Sri Lanka (CBSL), tomorrow, 27 May, from 3 p.m. to 5:15 p.m., at the Lighthouse Auditorium, Horton Place Colombo. (inside the premises of Lakshman Kadirgamar Institute)

This seminar aims to focus on: FEA provisions on capital transactions, permitted capital transactions undertaken in Sri Lanka by foreign investors, invest in shares issued by companies incorporated in Sri Lanka, applicable exclusions, limitations and special permission requirements, channelling funds for investments in Sri Lanka, repatriation of income and capital proceeds of the investments in Sri Lanka, operationalisation of Inward Investment Account (IIA), and external commercial borrowing by companies incorporated in Sri Lanka.

Knowledge and applicability of FEA is integral to a company secretary’s role in Sri Lanka, especially in companies with foreign investments, such as equity investments in companies. This could also cover foreign investments in form of debentures/loans etc. It ensures legal compliance, enables smooth foreign transactions, and helps mitigate legal and financial risks.

Further, the Institute is planning to cover PLCs, banking and non-banking Institutions as the second phase of the program at a future event.

The keynote speakers of the program are Deputy Director Kapila Weerakoon, Central Bank of Sri Lanka Senior Assistant Director, Department of Foreign Exchange D. Lakmal, Registrar of Companies Sunethra Dharmakeerthi.

The seminar is open to company secretaries and those affiliated with corporate decision-making to enhance their knowledge. For registration: Contact ICCSSL secretariat on 011 2301982

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