The Sri Lankan government has said it will offer temporary resident visas for foreign investors who invest a minimum of USD 3,00,000 in the country.

Finance Minister Ravi Karunanayake has announced, that any foreigner ,who will invest more than US$ 3 lakhs in Srilanka will be given resident visa ranging from 2 to 5 years .

He has revealed this in a press conference held at the Ministry of Finance yesterday (12).

Further he said , that in order to attract foreign investors to Srilanka, we have planned to amend rules and regulations .

Lawful investments made in foreign countries could be brought back to Srilanka, if rules and regulations are relaxed.

The investments would boost the country's foreign reserves and help cut reliance on foreign debt, he added.

The move is in line with a 2016 Budget proposal to grant resident visas to foreigners who bring in a large amount of foreign exchange into the country.

He said the funds coming through Commercial Banking license can be invested in Sri Lanka.

The move is to ease pressure on the rupee.