Govt. considering extending visa period for foreign investors

COLOMBO (News 1st): The Government is considering extending the visa period to five years to encourage foreign investors via the Immigration and Emigration Amendment Bill. The relevant amendment bill was presented to the Consultative Committee of the Ministry of Defense Chaired by Minister Chamal Rajapaksa yesterday (22),  the Parliamentary Communications Department stated. The Committee agreed to present the relevant Bill to Parliament for a second reading. Accordingly, section 14 of the Immigration and Emigration Act No. 20 of 1948 will be amended to increase the current visa issuance period from 2 to 5 years. Moreover, the period for which a visa can be granted with Ministerial approval will be increased from 5 years to 10 years. Controller of Immigration and Emigration Sarath Rupasinghe told the Consultative Committee that the amendment would bring a number of socio-economic benefits, including providing a safer environment for foreign investors to invest in businesses.