For people aged 55 and above, the Sri Lankan government has introduced the ‘My Dream Home’ visa. This scheme is designed to attract self-supporting retirees to the country with visas valid for two years.
This government run scheme is open to all nationalities. Once issued, you can apply to have the visa renewed in order to stay for longer periods. This visa also allows you to bring a spouse and any children (unmarried and younger than 18) with you.
Requirements
Must be over 55 years of age.
Should forward US$15,000, or the equivalent into an approved foreign currency, and deposit it into a fixed deposit account at an approved bank in Sri Lanka.
A monthly deposit of US$1,500, or equivalent, and an additional US$750 for any dependants into a savings account or current account in an approved bank.
Documentation requirements
To apply for this visa, applicants must supply the following documents:
A completed application form (available through the Department of Immigration and Emigration (DI&E) website, or from their offices in Colombo).
2 passport sized photographs.
A Certified copy of the information page of your passport.
Certified copies of bank statements, or other financial documents to prove an ability to support oneself financially in Sri Lanka.
A source of income - pension/superannuation for the monthly deposits mentioned above.
Police clearance certificate not older than six months, from the previous country of residence.
Marriage certificate if applying with a spouse.
My Dream Home visa conditions
People applying for this type of visa are subject to the follow conditions:
Applicants must possess a health insurance policy valid in Sri Lanka.
You can withdraw the entire fixed deposit should you decide to leave Sri Lanka, however, you must obtain approval from the Controller of Exchange in Sri Lanka. To do this you need to contact the Controller of Immigration & Emigration first.
Interest from the fixed deposit can be withdrawn and used to support the applicant.
No unpaid or paid employment is permitted under this visa.
Applicants must refrain from any illegal or political activities, or any activities deemed detrimental to Sri Lanka and its people.
Applicants are bound by the laws in Sri Lanka and may be required to pay taxes as applicable.
A 6-monthly bank statement related to the fixed deposit and savings account must be submitted to the Controller of Immigration & Emigration.
Any changes to the applicant’s visa status or personal information provided on the original application must be declared.
Applications are processed at the DI&E in Colombo. Applicants will be informed in writing of the status of their application within two weeks of submitting the paperwork.
If you are successful, you will be issued with a Provisional Approval Letter. This will allow you to open your fixed deposit foreign currency account.
The application fee is US$150 for the main applicant. The residence visa fees and taxes are Rs20,000 (US$153 USD, €118) for the applicant, spouse and any dependant children over the age of 16.
Renewal of a My Dream Home visa
Original visas are valid for two years but can be renewed. As long as the applicant and his family have fulfilled all conditions, it is unlikely that the renewal would be refused. The documents required to renew the visa are:
A residence visa form A.
A copy of the passport or original passport if a new passport has been issued since the initial application.
Renewal notice of fixed deposit and savings bank accounts
