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  What is it?
 

Resident Foreign Currency Accounts scheme is for citizens or non citizens resident in Sri Lanka. It gives an opportunity for them to keep their foreign currency in Sri Lanka.

 
 

For  whom ?

Individuals whether citizens or non citizens resident in Sri Lanka who are
  in a position to deposit foreign currency to a minimum of USD 100 or its equivalent in other designated currencies.
 

Types of Accounts

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

Permitted Credits

Minimum requirement of USD 100 or its equivalent in other designated
  foreign currencies, as the initial deposit
Inward remittances received
Acceptance of any amount of designated foreign currencies as
  subsequent deposits without Customs confirmation on passport or Custom Declaration Card.
Interest earned in foreign currency on funds held in the account.
   
 

Permitted Debits

Payments in Sri Lanka provided account holders maintain a minimum balance of USD 100 or its equivalent per person.
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 earned in foreign currency and exempted from Withholding Tax
SET / Telebanking/ Sampath Vishwa facilities
Fund transfers between 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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