Banking
Golden Paradise Foreign Currency Account explained
The GPFCA is the mechanism behind the whole programme. From opening to withdrawal, this is how it works.
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Direct answer
Frequently Misunderstood
Quick facts
| Fact | Detail |
|---|---|
| Account | Golden Paradise Foreign Currency Account (GPFCA) |
| Where | Any bank licensed by the Central Bank of Sri Lanka |
| Minimum | USD 200,000 |
| Withdrawal | Up to 50% after year one (from visa issue date) |
| On cancellation | Full deposit released |
The account lifecycle
Step 1
Open the account
At a bank licensed by the Central Bank of Sri Lanka. Expect standard international KYC: identity documents and source-of-funds evidence.Step 2
Fund it
Remit the USD 200,000 through traceable channels from accounts in your own name. Compliance review of foreign funds is often the slowest single step.Step 3
Get deposit proof
Request formal confirmation once the transfer clears. This document goes into your visa file.Step 4
Manage and, eventually, withdraw
Deploy funds into the published investment routes, withdraw up to 50% after year one, and receive the full balance if the visa is cancelled.
Common Mistake
Which banks qualify
Only banks licensed by the Central Bank of Sri Lanka. The Central Bank publishes the list of licensed commercial banks; several large local and international banks operate in Colombo.
We deliberately do not rank banks. Service, fees and compliance speed vary, and the right choice depends on where your funds sit today.
Tip
Withdrawal and release
Two rules matter. During the visa: up to 50% of the minimum investment after completion of the first year, counted from the visa issue date. On exit: written cancellation releases the investment for the holder, spouse and dependants.
CurrentVerified 2026-07-16 · View official source
Key Takeaway
Next Step
Common mistakes
| Mistake | Why it hurts | Do instead |
|---|---|---|
| Choosing an unlicensed institution | Only Central Bank-licensed banks qualify | Check the Central Bank list first |
| Transferring via third parties | Triggers AML questions that stall everything | Send from accounts in your own name |
| Skipping the deposit proof request | The application cannot proceed without it | Request it the day the transfer clears |
Tip
Frequently asked questions
Can the deposit earn interest?
Terms depend on the bank and account product. Ask the bank directly; the programme page does not regulate interest.
Can I invest the money from the GPFCA?
Yes. The four published routes (approved investments, condominiums, leases, bonds) are open to visa holders.
When exactly can I withdraw 50%?
After completion of the first year counted from the visa issue date, not from the deposit date.
The regulatory figures in this guide are checked against the official programme page of the Department of Immigration and Emigration and dated in our source register. Changes are logged publicly in the change log.
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