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. Credits to these accounts are restricted to proceeds of foreign currency remittances received in the name of the account holder. Debits to these accounts are freely permitted.

However they cannot send advance payments for imports unless the CIF Colombo value of the import is not more than USD 7,500. Funds can be remitted only for purposes authorized by Exchange Control, therefore no Capital account transactions are permitted.

Who is eligible to open an account?
- Sri Lankan citizens employed abroad.
- Sri Lankan citizens who had been employed abroad and returned to Sri Lanka provided the account is    opened within 90 days of their return to Sri Lanka.
- Sri Lankans who are citizens of other countries.

What are the benefits?
- Accounts maintained in foreign currency.
- Available in the form of Savings or Fixed Deposit accounts.
- Interest earned in foreign exchange.
- Funds can be remitted for authorized purposes without any Exchange Control approval.
- Interest income exempted from income tax.
- Eligible for Foreign currency housing loans.
- SET card facility.