Consumer expenditure in Sri Lanka has shown a robust recovery, reaching USD 42.65 billion in 2024. This notable increase over the past 18 months highlights a significant rebound from the economic downturn, according to Ramakrishnan Gopalan, Vice President & Head of Products for India & South Asia at Visa. Gopalan noted that the country is
After weeks of frustration and delays, a crucial meeting addressing the visa issuance controversy finally took place on Tuesday, June 4th, at the Parliament premises. The Committee on Public Finance (CoPF), chaired by MP Dr. Harsha de Silva, met with officials from the Public Security Ministry and the Department of Immigration and Emigration. These officials
The Maldives has overtaken the United Kingdom as the second-largest source of tourists for Sri Lanka in May, despite an ongoing controversy surrounding a new visa system implemented by Sri Lanka. This development comes amid concerns that a bilateral visa exemption agreement between the two countries may have been violated. The controversy centers around VFS
Great news for property investors! Sri Lanka has relaunched its “Investor Visa” program, specifically designed to attract foreign investment in the condominium market. This initiative, spearheaded by the Department of Immigration and Emigration, aims to revitalize the real estate sector and make investing in Sri Lanka easier than ever. Here’s what you need to know:
Sri Lanka’s recent decision to outsource visa processing and introduce “processing” and “convenience” fees has ruffled feathers in the Maldives, a close neighbor. Maldives Considers Reciprocal Action The new system, implemented through VFS Global, requires a $26 payment despite the Sri Lankan government itself not collecting any fees. This has angered Maldivian authorities, who point