“ ‘It rightfully belongs in the first tier across the board’ comments one rival. ‘It is the most reputable firm in Sri Lanka, with very good lawyers who have a deep knowledge of the market’ says one financial client.”
IFLR 1000 - Guide to the Worlds Leading Financial Law Firms - 2010
Updates
2010
Exchange Control Act
Regulation No 1644/26 dated 11th March 2010
General permission has been granted to persons resident in Sri Lanka and companies and firms registered in Sri Lanka to open, maintain and operate foreign currency accounts with any bank outside Sri Lanka or close such accounts as specified in the aforesaid gazette.
However, persons authorised to open and maintain accounts have been limited to the following:
- Persons travelling temporarily outside Sri Lanka for business, studies or medical purposes
- Individuals, companies or firms providing professional or vocational services outside Sri Lanka while being resident in Sri Lanka
- Individuals, companies or firms permitted by the Minister of Finance to invest outside Sri Lanka
- Individuals, companies or firms permitted by the Central Bank to lend foreign currency abroad
- Exporters of merchandise goods
