Sri Lanka to Sell its Golden Visa to Save Country from End-Level Bankruptcy

On Tuesday, Financially strapped Sri Lanka announced that after the island nation ran out of dollars for food and fuel, it would sell long-stay visas to attract much-needed foreign exchange.

The government said, “Foreigners who deposit at least US$100,000 locally would be approved to live and work in Sri Lanka for ten years under the Golden Paradise Visa Program.”

The government also said that the money must be kept in a local bank account during the stay.

Furthermore, Media Minister Nalaka Godahewa told reporters in Colombo that “This program will help Sri Lanka when facing the worst financial crisis since independence.”