What is SFIDA account?
SFIDA (Special Foreign Investment Deposit Account) is an interest earning deposit account for Foreign Nationals and Sri Lankan citizens residing overseas.
Types of currency a SFIDA can be opened
The account could be opened in currencies of Sri Lankan Rupees, USD, GBP, EURO, Swiss Francs, JPY, AUD, Danish Kroners, Singapore Dollars, CAD, SEK, HKD or in NZD.
The currency, in which the account maintained, can be converted to any other designated currency at the discretion of the account holder.
SFIDA is exempted from Income Tax, Debit tax and Withholding of Income tax.
Type of accounts
The accounts could be opened as Savings and Fixed Deposits. In case of Fixed Deposits premature withdrawals are permitted.
The minimum requirement for opening an SFIDA is USD 10,000/- or equivalent.
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