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Sri Lankans living or employed in other countries could make investments exempt from exchange control regulations in a new arrangement announced by the Central Bank of Sri Lanka. The Rupee Accounts for Non Resident Sri Lankan Investment (RANSI) is a result of a proposal in this year’s Budget to increase investments by Sri Lankans living or employed abroad. These investments can be easily repatriated free of exchange controls. Investments could be made in RANSI Accounts maintained with commercial banks in shares of Rupee companies, Government securities, Debentures, Unit trusts and Real assets including land and buildings. Funds raised through the sale or liquidation of investments, incomes from interest, dividends, profits and rental income could also be channeled to this account.
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