33. Eligibility of foreign investors and prohibitions and restrictions

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

(a)

Subject to the provision of subsection (1)(c), foreign investments shall be permitted into all sectors and regions of Sri Lanka. Foreign investors shall be permitted to own one hundred per centum of the shares in entities engaged in such sectors and regions, unless otherwise determined by way of regulations made under the provision of this Part or any other written law.

(b)

Foreign direct investments into Sri Lanka may take any legal form recognized by the laws of Sri Lanka, including new investment into companies incorporated under the

Companies Act, No. 07 of 2007 or as investments into existing local companies.

(c)

A negative list containing sectors and industries which are prohibited or restricted for foreign investors shall be prescribed by regulations made under this Part.

(2)

Notwithstanding anything to the contrary contained herein, the Minister may with the approval of the Cabinet of

Ministers introduce new entry requirements or restrictions for foreign investments into Sri Lanka by regulations made under this Part, if deemed necessary for reasons of national security, public emergency, public safety and environmental protection.

Read on from s 34

Part III

Read on from Part III

Part IV

Read on from Part IV

Part V

Read on from Part V

Part VI

Read on from Part VI

Part VII

Read on from Part VII