Addressing the severe financial crisis the country is currently going through, the Sri Lankan government announced that they will now sell long-term visas to foreigners for a minimum of $100,000. It will allow them to live and work in Sri Lanka for 10 years. The Golden Paradise Visa Program is expected to bring in the much-needed foreign currency. There is also a provision for getting a five-year visa for any foreigner, who is willing to spend a minimum of $75,000 to purchase an apartment anywhere in Sri Lanka.
The pandemic had left Sri Lanka in a difficult situation as global tourism was kept on hold. This led to an economic collapse so massive that the entire country faced acute shortages of basic necessities including food, fuel and medicines.
Also, as per Sri Lanka’s tourism industry officials, the country is now slowly starting to get back on the road to recovery. Political instability is showing signs of rest as political parties are starting to come to some agreement. There has also been a tremendous development regarding the country’s fuel situation. Now the queues outside the refilling stations are getting shorter, power supplies are slowly getting back on track, supermarkets are filling up again, and other goods and services are coming back to normal.
The introduction of the Golden Paradise Visa Programme is expected to speed up the progress in the country’s financial situation.
