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  • Overview
  • Permitted Credits/Debits
  • General Information

What is it ?

Securities Investment Account (SIA) is an account which can be opened in LKR or in any other designated foreign currency and eligible investors could invest in Government Securities (Treasury Bills and Treasury Bonds), Equity Capital of Companies incorporated in Sri Lanka and Units of Unit Trusts in Sri Lanka.

 

For Whom?

  • Foreign Institutional Investors (FII) including country funds, regional funds or mutual funds
  • Corporate bodies incorporated outside Sri Lanka
  • Citizens of foreign states whether resident in Sri Lanka or outside Sri Lanka
  • Non-Resident Sri Lankans

Permitted Credits

  • Inward remittances received from abroad directly through international banking channels.

  • Transfer of funds from following accounts maintained in the name of account holder;
    • Non-Resident Foreign Currency Accounts (NRFC)
    • Special Foreign Investment Deposit Accounts (SFIDA)
    • Resident Non-National Foreign Currency Accounts (RNNFC)
    • Securities Investment Accounts (SIA)
    • Non-Resident Non-National Foreign Currency Accounts (NRNNFA)
    • Accounts maintained at an Off-shore Banking Unit (OBU)
  • Foreign currency in the form of travellers’ cheques (TCs), bank drafts or currency notes brought into to the country by the accountholder on declaration to Sri Lanka Customs, as applicable, during visits to Sri Lanka of the account holder and tendered in person to authorised dealer, provided that TCs have been issued outside Sri Lanka and drafts issued by a bank outside Sri Lanka and endorsed in the name of the account holder.

  • Fund transferred to the credit of an SIA by another authorised dealer which receives an inward remittance for the eligible investor, in which case, a written confirmation shall be issued by the authorised dealer which transfers the funds stating that the said funds were received as an inward remittance as per permitted credits above and, the authorised dealer which receives the funds so transferred shall obtain the said confirmation before crediting the funds to SIA.

  • Credits specified in Investment Transactions

  • Commission and brokerages received by facilitating Investment Transactions

  • Interest earned on funds lying to the credit of the account.

Permitted Debits

  • Outward remittances of funds received as credits specified in Permitted Credits above.
    Such remittances shall be effected through an authorised dealer other than the authorised dealer with whom the SIA is maintained, provided that a confirmation shall be obtained from the authorised dealer with whom, the SIA is maintained that the funds were debited from the SIA of the customer.

  • All ancillary payments related to Investment Transactions, including bank charges, Government taxes, stamp duty and payments to brokers, primary dealers, lead managers and management companies of unit trusts.

  • Transfer of funds to following accounts maintained by the account holder;
    • Non-Resident Foreign Currency Accounts (NRFC)
    • Special Foreign Investment Deposit Accounts (SFIDA)
    • Resident Non-National Foreign Currency Accounts (RNNFC)
    • Securities Investment Accounts (SIA)
    • Non-Resident Non-National Foreign Currency Accounts (NRNNFA)
    • Accounts maintained at an Off-shore Banking Unit (OBU)

General Information

  • SIA shall be opened jointly by eligible investors

*Condition apply