October 12th, 2023 at 11:00 am
Visa for Retirement in Sri Lanka
Sri Lanka is a stunning island nation in South Asia that provides a wide range of experiences for those who value variety and diversity. In addition, Sri Lanka is among the most reasonably priced places in Asia to live or travel, which helps to explain the enormous influx of foreigners that relocate there each year.
You need to apply for the Dream Home Visa Program in order to retire in Sri Lanka.
What is the program for Dream Home Visas?
A retirement program called the Dream Home Visa Program allows foreigners to retire and live in Sri Lanka. It is available to self-supporting retirees who fulfill the requirements for two years, allowing them to take advantage of retirement benefits in Sri Lanka. Additionally, you are permitted to bring your spouse and children.
Who may apply for a retirement visa to Sri Lanka?
You must fulfill the following requirements in order to be eligible for a Sri Lanka retirement visa:
- You have to be at least 55 years old.
- You must deposit $15,000, or its equivalent, in an authorized foreign currency into a fixed deposit account at a Sri Lankan bank.
- You must stop contributing $1,500, or the equivalent in an authorized foreign currency, each month to a savings account in a Sri Lankan bank. The additional $750 is for your spouse and any dependent children who travel with you.
- You ought not to engage in any illegal activity.
What Requirements Must I Meet to Get a Retirement Visa for Sri Lanka?
All applicants for a retirement visa to Sri Lanka through the “Dream Home Programme” must fulfill the requirements listed below:
- In Sri Lanka, you must have an active health insurance policy.
- A fixed deposit account must receive a $15,000 deposit. Later on, you can take the fixed deposit out whenever you like, but you’ll need to have the Controller of Exchange’s permission first. Via the Controller General of Immigration Emigration Sri Lanka, you can withdraw money.
- You ought to have a spotless police record.
- You are not permitted to engage in any criminal activity.
- You are not allowed to engage in any political or otherwise sensitive activities in Sri Lanka or with its people.
- You are not permitted to work for pay or unpaid work while in Sri Lanka.
- You must abide by Sri Lankan regulations and may have to pay applicable taxes.
- You have to give the Department of Immigration and Emigration’s Controller (Visa) a bank statement covering the last six months that pertains to savings and fixed deposit accounts.
- Any changes to your personal information or visa status should be reported to the Department of Immigration and Emigration’s Controller (Visa).
Conditions for Obtaining a Dream Home Program Visa
When submitting an application for a retirement visa to Sri Lanka, you need to include these documents:
Form for Residence Visa
- The application form can be downloaded from their official website or obtained through the Immigration and Emigration Department’s Visa Division.
- Two passport-sized photos. Please include two recent headshots of yourself that showcase your shoulders and face.
- Certified duplicates of each page in the passport.
- Subsistence tools. A certified copy of your most recent bank statement or other proof of financial stability to demonstrate your ability to pay for your stay in Sri Lanka.
- Your pension, which you must remit each month in the amount of $1,500 for you and $750 for each dependent.
- Evidence of a spotless criminal history. a police clearance certificate from your native country that is no more than six months old.
- A certificate of marriage.
How Do I Apply for a Retirement Visa to Sri Lanka?
The overseas Sri Lankan missions or the Department of Immigration & Emigration’s head office in Colombo are the places to get the application forms for a retirement visa to Sri Lanka. The entire application procedure for a retirement visa to Sri Lanka is simple and fast:
- To complete the visa application form, go to the Department of Immigration and Emigration or a local Sri Lankan consulate.
- Complete the application form in its entirety and affix the necessary paperwork.
- Send the completed application and supporting documentation to the Consulate or the Department of Immigration and Emigration in Colombo so that they can be processed.
- Pay the processing cost for your application. A $150 charge is required for both you and your dependents.
- Get a response. After submitting the application, you will get an email with information on your visa.
NOTE: Should your application be approved, you will receive a letter of instruction from the Operational Bank Manager, a provisional approval letter to open a fixed deposit account, and a savings account for $1,500 to cover living expenses.
Cost of Retirement Visa
For each applicant and their dependents, there is a $150 processing charge associated with their visa application. The cost of obtaining a retirement visa for Sri Lanka through the Consulate varies depending on the reciprocity and nation.
Duration of Retirement Visa
The Sri Lankan Dream Retirement House Visa is good for two years, after which it can be renewed. The Department of Immigration and Emigration is where one submits an application to renew a retirement visa.
You and your dependents will receive your renewal visa at that point.
Can my Retirement Visa be Renewed?
Indeed, you are able to extend your retirement visa for an additional two years from the date it was issued. You must obtain the application form for a renewed visa by visiting the Department of Immigration and Emigration in Colombo in order to apply for the renewal of your retirement visa.
The following paperwork must be submitted in order for your visa to be renewed:
- A type A resident visa.
- A duplicate of your passport.
- Notice of bank account renewal for savings and fixed deposit accounts.
- Notice of medical insurance renewal.
- A certificate of police clearance was received in Sri Lanka.