Inward Investment Account (IIA)

IIA is a special account designated for eligible investors resident in or outside Sri Lanka to route funds to invest in the permitted investments. Licensed Commercial Banks and Licensed Specialized Banks (as permitted) are permitted to open and maintain IIA in the Domestic Banking Unit of a Licensed Commercial Bank and Licensed Specialized Banks (as permitted)  in the name of the eligible investor, subject to the terms and conditions stipulated in the Government Gazette bearing no. 2045/56 dated 17.11.2017 and the Direction issued on the same.  IIA may be maintained in Sri Lanka rupees or in any designated foreign currency and may be held jointly by eligible investors.

References:

•  Direction No. 13 of 2017 under Foreign Exchange Act, No. 12 of 2017.