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  What is it?
Non-Resident Foreign Currency Accounts scheme is for Sri Lankans who are employed abroad. It is an incentive given to them to repatriate their earnings to Sri Lanka by permitting them to maintain accounts in foreign designated foreign currencies

For whom ?

Nationals of Sri Lanka, who are or have been employed abroad

(Within 90 days of their return to Sri Lanka after employment abroad)

Non-Nationals of Sri Lankan Origin, who are resident outside Sri
  Lanka, subject to terms and conditions termed by Controller of Exchange from time to time.

Types of Accounts

Can be opened in the form of Savings or Fixed Deposit Accounts

Permitted Credits

Inward Remittances in foreign currency received through any Authorised
Acceptance of any amount of designated foreign currencies brought by
  the account holder without custom confirmation on passport or custom declaration card.
Interest earned in foreign currency on funds held in the account
Permitted Debits
Debits are freely allowed for remittances abroad
Payments in Sri Lanka.
Issuing of Traveller’s cheques and currency notes against funds held in
  accounts for travel abroad, subject to production of travel tickets.
  What are the benefits?
Interest income exempted from Withholding Tax
SET / Telebanking/ Sampath Vishwa facilities

Fund transfers between NRFC accounts, NRFC accounts to RFC


accounts held in the same bank or different banks irrespective of the holder of account or currency type

  * Conditions apply
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