Tourama - Exchange Control

Exchange Control and Foreign Currency Declaration limits

With  effect  from  5th October 2007 the amount of foreign currency that
could  be  brought  into  and taken out of the country by passengers at the
time of arrival and departure into and out of Sri Lanka has been increased.
This is in keeping with the policy to further relaxing the foreign exchange
transactions  by the Central Bank of Sri Lanka. The new measures and limits
are as follows:

1.  A  person  may  bring  any  sum of money in foreign currencies into Sri
Lanka. This sum could be in TC's, Bank drafts or currency notes. However, if
the  total  of  such sum exceeds US$ 15,000, such sum should be declared to
the Sri Lanka Customs.

2.  If  a  person  wishes to take out from Sri Lanka a sum in excess of US$
5000  in  currency  notes  out of the sum brought in as per (1) above, such
person  should  declare  the  entirety of the sum brought in, even if it is
less than US$ 15,000.

3.  Any  person  may  take  out from Sri Lanka a total of legally acquired
foreign  currency  in  any  form  up to  US$ 10,000 without any declaration.
However,  if  the  sum in currency notes exceeds US$ 5,000, the entirety of
the sum must also be declared.

4.  Any  person  can  bring  in  any  sum  of  foreign currency earned from
employment,  profession  or  business  abroad  and upon declaration of such
foreign  currency  to  Customs as per (1) above and may retain such sum in
his/her possession for 90 days before changing into Sri Lanka Rupees.

5.  Any  person  who  has obtained foreign currency from a Bank, Authorized
Travel Agent or Authorized Money Changer for overseas travel, may retain in
his/her  possession  the  unused  sum  for 90 days before changing into Sri
Lanka Rupees.

6.  Foreign currency retained by any person as per (4) and (5) above may be
used  for  subsequent  visits  abroad for permitted transactions within the
allowed period of retention.

7.  Any  person  returning  after travel abroad may retain without any time
limit, US$ 2000 out of foreign currency purchased for such travel or earned
by him/her outside Sri Lanka for his use during future travels.

(The  foreign currency amounts indicated above in US $ may be in equivalent
amounts in other convertible foreign currencies)

See also: Duty Free Allowances

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