Central Bank warns against a𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐞𝐦𝐞𝐧𝐭𝐬 𝐩𝐫𝐨𝐦𝐨𝐭𝐢𝐧𝐠 𝐨𝐯𝐞𝐫𝐬𝐞𝐚𝐬 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬

COLOMBO :The Central Bank of Sri Lanka has observed advertisements promoting overseas property investments and guidance on obtaining foreign loans. The public is hereby advised of the following:

1. There is no permission for any resident individual or entity to make payments for overseas property investments by converting Sri Lanka Rupees (LKR)
2. Resident individuals are permitted to make any overseas investment including investments in overseas properties through Personal Foreign Currency Accounts (PFCAs) only up to USD 20,000 (or equivalent in designated foreign currencies)
3. Use of funds available in Business Foreign Currency Accounts (BFCAs) for overseas property investments is not permitted.
4. Obtaining foreign loans from non-residents for any purpose, including overseas property purchases, is strictly prohibited.

⚠️ CBSL strongly advises the public not to be misled by such advertisements. Legal action will be taken against those involved in unauthorized foreign transactions.