Retirement Visa Program Requirements for Sri Lanka - Dream Home (2023)

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Sri Lanka is a beautiful island nation in South Asia that offers a range of experiences for those who enjoy diversity and variety. Moreover, Sri Lanka is one of the most affordable destinations in Asia not only to visit but also to live, which explains why a large number of expats move to the country every year.

To retire in Sri Lanka, you must haveVisa for the house of your dreams Plan(also known as Sri Lanka Retirement Visa).

What is the Dream Home Visa Program?

The Dream Home Visa program is a retirement program that allows foreigners to retire and live in Sri Lanka. It is issued for a period of 2 years and welcomes self-employed retirees who meet the criteria to enjoy pension benefits in Sri Lanka. You can also bring your family members (spouse, child).

Who can get a retirement visa for Sri Lanka?

To get a Sri Lanka Retirement Visa (Dream Home), you must meet the following eligibility criteria:

  • You must be 55 or older.
  • You should put up with it15,000 dollarsor the equivalent in an approved foreign currency and deposit the amount into a fixed deposit account with a bank in Sri Lanka.
  • You have to pay monthly1500 dollarsor the equivalent of such amount in an approved foreign currency and750 dollarsfor your spouse and dependent child (if they are with you) to a Sri Lankan bank savings account.
  • You must not be involved in any criminal activity.

What are the requirements for obtaining a retirement visa for Sri Lanka?

Anyone applying for a retirement visa to Sri Lanka through the Dream Home Program must meet the following requirements:

  • You must have a valid health insurance valid in Sri Lanka.
  • You have to deposit an amount of15,000 dollarsto the fixed deposit account. You can withdraw the fixed deposit anytime later, but you must first get permission from the Controller or the Exchange. You can withdraw money through the Controller General of Immigration and Emigration of Sri Lanka.
  • You must submit a clean police record.
  • You must not be involved in any form of criminal activity.
  • You must refrain from any political activity in Sri Lanka or any activity that may be considered sensitive to Sri Lanka and its people.
  • You cannot do any paid or unpaid work during your stay in Sri Lanka.
  • You are bound by the laws of Sri Lanka and may be required to pay the appropriate taxes.
  • You must submit a bank statement for the last six months covering fixed deposits and savings accounts to the Controller (Visa) of the Immigration Department.
  • You must notify the Immigration and Emigration Controller (Visa) of any changes to your visa status or personal information.

Dream Home visa requirements

When applying for a retirement visa for Sri Lanka, you will need to submit the following documents:

  1. Residence visa application form.The application form is available from the visa section of the Department of Immigration and Emigration or you can download it from their official website.
  2. Two passport photos.Add two recently taken photosphotos where you can see your face and shoulders.
  3. Certified copies of all passport pages.
  4. livelihood.A certified copy of your most recent bank statement or other financial documents proving that you are financially able to support your stay in Sri Lanka.
  5. Source of income (pension) for monthly payments of $1,500 for you and $750 for each dependent.
  6. Proof of a clean criminal record.Police consent statement not older than six monthsfrom his homeland.
  7. Marriage certificate.

How to apply for a retirement visa for Sri Lanka?

Sri Lanka Retirement Visa Application Forms are available from the Head Office of the Immigration and Emigration Department, Colombo or Sri Lanka Overseas Missions.The general application process for a retirement visa for Sri Lanka is quick and easy:

  1. You need to visit the Immigration and Emigration Department or Sri Lankan Consulate near you to complete the visa application form.
  2. Complete the application form and attach the necessary documents.
  3. Submit the application form along with the documents to the Immigration and Emigration Department in Colombo or the Consulate for processing.
  4. Pay the application processing fee. You have to pay a fee150 dollarsfor yourself and your loved ones.
  5. Get an answer. You will receive an email about your visa application within two weeks of submitting your application.

REMARK:If your application is successful, you will receive a Preliminary Approval Letter for opening a Fixed Deposit Account and a Savings Account for1500 dollarsfor your living expenses and a letter of engagement to the Bank's Operations Manager.

Retirement visa costs for Sri Lanka

The costs of processing your visa application are150 dollarsfor each applicant and dependents. The cost of Sri Lankan retirement visas issued at the consulate depends on reciprocity and varies from country to country.

Retirement visa duration in Sri Lanka

The Sri Lankan Dream Retirement Home Visa is issued for a period of two years and you can renew it after it expires. An application for the extension of a retiree visa is submitted to the Department of Immigration and Emigration.

Once your visa is extended, it will be issued to you and your family members.

Can I extend my retirement visa to Sri Lanka?

Yes, you can extend your pensioner visa for two years after the date of issue of your current pensioner visa. To apply for an extension of your pensioner visa, you need to go to the Immigration and Emigration Department in Colombo and pick up a visa extension application form.

To extend your visa, you must attach the following documents:

  • Residence visa form A.
  • A copy of your passport.
  • Notice on the renewal of fixed deposits and savings accounts.
  • Renewal of health insurance.
  • I have received a statement of consent from the police in Sri Lanka.

How much does it cost to retire in Sri Lanka?

Life in Sri Lanka is generally accessible to everyone. As a retiree, it will not be difficult for you to find good and comfortable accommodation at an affordable price, nor will you have to spend a lot on food because the prices of food in the markets are relatively low. Here is a breakdown of the average cost of a pension in Sri Lanka:

ACCOMMODATIONMonthly expenses
Apartment (1 room) in the city center130 dollars
Apartment (1 bedroom) Outside the center60 dollars
Apartment (3 bedrooms) in the city center280 dollars
Apartment (3 bedrooms) Outside the center140 dollars
Milk0.80 dollars
Rice0.50 dollars
eggs0,90 USD
Tomato0.60 dollars
Potato0,70 USD
Appels (kg)2 dollars
Electricity, water, heating, cooling, waste23 dollars

Why choose Sri Lanka for retirement?

The Dream Home Retirement Program in Sri Lanka offers numerous benefits:

  • You will receive a residence visa valid for two years, which can be extended.
  • You feel welcomed by the local population and live in a safe environment.
  • You can enjoy a range of climates, seasons and temperatures. The climate in Sri Lanka is tropical and consists of wet and dry seasons.
  • You can participate in endless outdoor activities to improve your health, such as golf, tennis, physical training in gyms, swimming, surfing, bird watching and more.
  • You stay in luxuriously furnished houses or apartments on the tropical coast, in the picturesque central highlands or in big cities.
  • You can bring your family members (spouse, child) to Sri Lanka.

Health care in Sri Lanka for retirees

Sri Lanka has a free and universal healthcare system and has its own indigenous medicine. Public health care is funded by the government and has facilities available to every citizen and expatriate. Public hospitals are well equipped with modern equipment and qualified staff and are almost free. The public system in favor of the poor covers about 50% of outpatient and 90% of hospital services.

However, patients have to wait a long time and wait in queues to get the necessary medical services. This is why the majority opt for private healthcare.

Sri Lanka has a large number of private hospitals due to the demand for private healthcare. Private healthcare facilities offer more luxurious services, but are more expensive than public hospitals.

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Retirement Visa Program Requirements for Sri Lanka - Dream Home? ›

$432 a month or 5000 $184 a year. Assuming an average annual inflation rate of 3%. or return on balance of 8%. and an average life expectancy 25 years after, in order to retire in Sri Lanka, you need at least $77,700 and to not run out.

How much money do I need to retire in Sri Lanka? ›

$432 a month or 5000 $184 a year. Assuming an average annual inflation rate of 3%. or return on balance of 8%. and an average life expectancy 25 years after, in order to retire in Sri Lanka, you need at least $77,700 and to not run out.

Can an American retire to Sri Lanka? ›


Depending on your retirement plan you can either apply for a 3 month tourist visa at the Sri Lankan Embassy in your home country or go straight for the 12 month retirement visa. A Tourist Visa is suitable for people who want to send only few months in the sun over the winter.

What are the requirements for a retirement visa? ›

A retirement visa will allow you to spend your well deserved retirement years in a foreign country. To be granted a retirement visa, you must be of retirement age (typically from 50 years of age and above) and have enough money to support yourself.

How can I get permanent residence in Sri Lanka? ›

What are the documents I need to submit with my Residence visa application?
  1. Request letter from Religious Organization.
  2. Recommendation of Line Ministry.
  3. A copy of the Bio Data Page of applicant's passport.
  4. Health Protection plan (Can get through the
  5. Passport/s.

How long can a US citizen stay in Sri Lanka? ›

Conditions of the Sri Lanka ETA for US citizens

US nationals with the Tourist ETA can enter Sri Lanka twice, whereas Americans traveling on business are allowed multiple entries. Both permits allow for a maximum stay of a month (30 days) for each visit.

How much money do you need to live comfortably in Sri Lanka? ›

Summary of cost of living in Colombo, Sri Lanka: A family of four estimated monthly costs are 1,697.7$ (525,021.2Rs) without rent. A single person estimated monthly costs are 473.7$ (146,492.2Rs) without rent. Colombo is 64.4% less expensive than New York (without rent).

Can U.S. citizens own property in Sri Lanka? ›

What are the rules and regulations for expats and foreigners buying and renting property in Sri Lanka ? Foreigners can buy apartments / condominiums from ground level up, however lands cannot be purchased on freehold and can only be leased up to 99 years.

Is there a retirement visa for USA? ›

While some other countries offer foreigners retirement visas, sometimes known as silver cards, the United States does not have a retirement visa program – and has no current plans of creating one.

Can a foreigner buy a house in Sri Lanka? ›

Foreigners cannot obtain a loan or a mortgage to purchase a property or invest in Sri Lanka. All the money has to come from outside Sri Lanka, and, in some instances, the Central Bank might require you to provide a source of the funding before clearing your funds from the bank.

How long can a retired US citizen stay out of the country? ›

If you leave the U.S., we will stop your benefits the month after the sixth calendar month in a row that you are outside the country. You can make visits to the United States for specific periods of time, depending on how long you've been outside, to continue receiving your benefits.

How long does a retirement visa last? ›

How Long Does a Retirement Visa Last? Your retirement visa can be issued between one to five years—depending on your destination country.

Do you have to be a US citizen to get retirement benefits? ›

Age 62 or older, or a person with a disability or blindness. "Insured" by having enough work credits. For applications filed December 1, 1996, or later, you must either be a U.S. citizen or lawfully present noncitizen in order to receive monthly Social Security benefits.

Can you retire to Sri Lanka? ›

The Dream Home Visa Program is a retirement program that permits foreigners to retiree and reside in Sri Lanka.

Is dual citizenship allowed in Sri Lanka? ›

Dual Citizenship is applicable to;

Resumption – Section 19(2) of the said Act makes provisions in respect of a person whose citizenship of Sri Lanka has ceased due to obtaining of citizenship in another country and who there after desire to resume the status of a Citizenship of Sri Lanka.

How much is a residence visa in Sri Lanka? ›

Visa Fees
Fee US Dollar (US $) (For a year or part thereof)
Residence Visa - 1200
Residence Visa - 2100
Residence Visa - 3100
Residence Visa - 4Free
7 more rows

What country allows US citizens to stay the longest? ›

Albania is one of the countries with the longest tourist visas. US citizens may stay in Albania for up to one year without a residence permit. At one year you must depart Albania and stay out of the country for 90 days before re-entering if you do not have a residence permit.

What country can US citizens stay the longest without a visa? ›

Canada – 180 days

Oh, Canada, our friends to the North. Unsurprisingly, they have one of the longest visa-less allowances for US citizens. If you want to move somewhere different but don't want a huge culture shock or learn a new language (with the exception of Quebec), Canada is an ideal option.

Can a U.S. citizen stay outside of the US for more than a year? ›

Posted by Frank Gogol in Immigrants | Updated on June 19, 2023. At a Glance: Once you become a naturalized U.S. citizen, you can move abroad for an extended period without losing your citizenship.

Where is the cheapest place to live in Sri Lanka? ›

Colombo (Sri Lanka) has been ranked amongst the 10 cheapest cities in the world in this year's Worldwide Cost of Living survey (WCOL), run by the Economist Intelligence Unit (EIU).

Is 100 usd a lot in Sri Lanka? ›

Therefore, $100 USD would be equivalent to around 36,500 LKR.

What is upper middle class income in Sri Lanka? ›

Sri Lanka achieved 'Upper Middle Income Country' (UMIC) status in July 2019, as the country's Gross National Income (GNI) increased from USD 3,840 per capita in 2018 to USD 4,060 per capita in 2019. World Bank's (WB) new threshold for UMICs is USD 3,996 – USD 12,375 GNI per capita.

Does the US have a tax treaty with Sri Lanka? ›

The agreement with Sri Lanka represents the first tax treaty between the two countries. The tax treaty with the US was first signed in 1985 in Colombo.

How much does it cost to build a house in Sri Lanka? ›

The average cost per square foot to build a Basic house is between Rs. 12,000/= to Rs. 14,000/= as of August 2022, while it'll cost around Rs. 20,000 per square foot upwards for a house with luxury fittings and mod-cons.

Is it good to buy property in Sri Lanka? ›

According to the recently released House Price Index of LankaPropertyWeb that is based on asking prices for Q1 of 2022, the overall selling prices of apartments have soared by 36.08% from Q1 of 2021 while the overall residential land prices of Sri Lanka have reduced by 29.77%.

What is the property tax in Sri Lanka for foreigners? ›

Foreigners can freely buy properties subject to the payment of the Land Tax applicable for foreigners at 100% of the property value. An alternative is to lease the land for 99 years, bringing the tax down to 7%. If you consider buying (any) property in Sri Lanka it is advisable to consult with a specialized lawyer.

Can expats live in Sri Lanka? ›

The pearl of the Indian Ocean, Sri Lanka is a paradise for adventurous expats and retirees with its ancient lost cities, lush forests, spectacular hill country and stunning beaches. There's no doubt that expats moving to Sri Lanka will have a fulfilling cultural experience.

Can foreigners open bank account in Sri Lanka? ›

Non-resident Individual accounts could be opened under two categories. Note: A person resident in Sri Lanka is as defined by the No. 2045/56 Gazette relating to Foreign Exchange Act No.

Can you lose your U.S. citizenship if you live outside the US? ›

You may lose your U.S. citizenship in specific cases, including if you: Run for public office in a foreign country (under certain conditions) Enter military service in a foreign country (under certain conditions) Apply for citizenship in a foreign country with the intention of giving up U.S. citizenship.

How do I get the $16728 Social Security bonus? ›

To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.

Can a U.S. citizen collect Social Security while living abroad? ›

If you are a U.S. citizen, you may receive your Social Security payments outside the U.S. as long as you are eligible for them.

How long does a US citizen stay in Thailand? ›

The tourist visa must generally be used within 90 days from the date of issue and allows an initial stay of 60 days. After arrival in Thailand, a tourist visa may be extended at the discretion of an immigration officer once for an additional 30 days with the total period of stay no longer than 90 days.

Can I retire to Thailand from USA? ›

The Thai retirement visa for US citizens is issued to retirees or applicants who wish to visit and retire in the Kingdom of Thailand. Please note that you must first obtain a 90-day visa from your home country or country of residence prior to your application for the Thai Retirement visa in Thailand.

What is the 2 year rule for US visa? ›

It requires you to return home for at least two years after your exchange visitor program. This requirement is part of U.S. law, in the Immigration and Nationality Act, Section 212(e). If you cannot return home for two years, you must apply for a waiver.

Can a U.S. citizen who never worked get Social Security? ›

The only people who can legally collect benefits without paying into Social Security are family members of workers who have done so. Nonworking spouses, ex-spouses, offspring or parents may be eligible for spousal, survivor or children's benefits based on the qualifying worker's earnings record.

Can you have a Social Security and not be a U.S. citizen? ›

Generally, only noncitizens authorized to work in the United States by the Department of Homeland Security (DHS) can get an SSN. SSNs are used to report a person's wages to the government and to determine that person's eligibility for Social Security benefits.

Can you collect Social Security and not be a U.S. citizen? ›

To be eligible for SSI as a noncitizen, you must be in one of certain classifications granted by the Department of Homeland Security (DHS). You may be eligible for SSI if you are: Lawfully admitted for permanent residence. Granted conditional entry.

Can a US citizen retire in Sri Lanka? ›

Immigration Services Centre. 'My Dream Home' programme is promoted by the Government of Sri Lanka to allow people from all over the world, who fulfill a certain criteria to retire in Sri Lanka. It allows the retiree to live in the country under a long term resident visa, issued in two year blocks.

How much money you need to retire in Sri Lanka? ›

$432 a month or 5000 $184 a year. Assuming an average annual inflation rate of 3%. or return on balance of 8%. and an average life expectancy 25 years after, in order to retire in Sri Lanka, you need at least $77,700 and to not run out.

What are the cons of living in Sri Lanka? ›

Along with the lack of country-wide wi-fi, there is a general lack of infrastructure. This isn't a big deal if you're just visiting, but could be extremely annoying if you plan on living in Sri Lanka long term. Power outages are common. Other than the Colombo-Galle Highway, roads are in poor condition.

Do dual citizens pay taxes in both countries? ›

Being a dual citizen means that a person is considered a citizen/national of two countries at the same time, and is subject to both country's tax laws. Something to remember is that each country has its own laws dictating who qualifies as a citizen.

Can foreigners inherit property in Sri Lanka? ›

No law prohibits foreigners from inheriting property in Sri Lanka. However the Finance Act No. 11 of 1963 states that where of ownership of any land is transferred to a person who is not a citizen of Sri Lanka, a tax of an amount equivalent to the value of the land is charged.

What are disadvantages of dual citizenship? ›

Drawbacks of being a dual citizen include the potential for double taxation, the long and expensive process for obtaining dual citizenship, and the fact that you become bound by the laws of two nations.

How long a US citizen can stay in Sri Lanka? ›

Conditions of the Sri Lanka ETA for US citizens

US nationals with the Tourist ETA can enter Sri Lanka twice, whereas Americans traveling on business are allowed multiple entries. Both permits allow for a maximum stay of a month (30 days) for each visit.

Can I stay in Sri Lanka for a year? ›

Please note: You have to apply for an embassy visa if you intend to travel to Sri Lanka for a long-term period, such as work or family reunification. You can get an Electronic Travel Authorization only if you are travelling for tourism, business, or transit.

What country can I retire to with $800 a month? ›

Ecuador. If you're looking for a country where you can retire outside the US comfortably with $800 per month and experience one of the most ecologically diverse places in the world, then Ecuador might be for you. The go-to city for US retirees in Ecuador is Cuenca, which also happens to be a UNESCO World Heritage site.

What is the average income of Sri Lanka? ›

Employees in Sri Lanka earn an average of ₹28lakhs, mostly ranging from ₹19lakhs to ₹51lakhs based on 135 profiles.

Is Sri Lanka a cheap country to live in? ›

Pakistan tops the list of the cheapest countries in the world, with a cost of living index of $294. Sri Lanka and Nepal come in second and third on the list, with cost of living indexes of $316 and $385 respectively.

What country can US citizens retire to? ›

To help you narrow down your options, here are our picks for the best countries to retire to.
  • Panama. Panama tops most lists of the best countries to retire in, and there are good reasons for that. ...
  • Costa Rica. ...
  • Portugal. ...
  • Ecuador. ...
  • Greece. ...
  • Belize. ...
  • Nicaragua. ...
  • The Philippines.

What country can you live on $1500 a month? ›

If you're single, it's even cheaper. Take Cambodia, where you can live comfortably for just $1,150 a month. The most expensive place on the list — which spanned from Southeast Asia to Europe to Latin America — came in at just $1,500 a month for a single person.

Which is the cheapest country to retire in? ›

Mexico. Just south of the United States of America border with warm weather, a wide variety of places to live, miles of coastline, and beautiful cities, Mexico, one of the cheapest countries to retire in, is a popular destination for retirees as well as vacationers.

How long can a foreigner stay in Sri Lanka? ›

A visitor wishing to stay more than 30 days in Sri Lanka, may apply for an extension. The short term visit visa may be extended maximum up to 270 days from the the date of arrival in three consecutive instances as grant 30 days on entry , 60 days at first extension and 90 days for second and third instances.

Can foreigners get citizenship in Sri Lanka? ›

Foreign nationals who have Sri Lankan ancestry or are married to a Sri Lankan spouse may acquire citizenship by registration. Any other foreigner who holds a residence visa valid for at least five years and have been admitted into the Resident Guest Scheme by the government may also acquire citizenship by registration.

How many millionaires live in Sri Lanka? ›

In 2016, there were five thousand millionaires in Sri Lanka. This figure was estimated to reach 13 thousand by 2026. In comparison, the country had 80 ultra high net worth individuals (UHNWI) and 10 centa-millionaires in that year.

What is the middle class income in Sri Lanka? ›

The literature defining the middle class by using an absolute approach, defines it as those earning some benchmark income range. For example, Bhalla (2021) defines middle class to be those earning more than US$ 3,658 (in 2020 prices) a year or US$ 10 a day in purchasing power parity terms.

How much is a gallon of milk in Sri Lanka? ›

If you lived in United States instead of Sri Lanka, you would:
Sri Lanka
Milk (1 gallon)$4.78 Rs1,479.10-19.8%
Eggs 1 dozen$1.54 Rs476.21+160.8%
Boneless chicken breast (1 lb)$1.66 Rs513.68+220.7%
Apples (1 lb)$1.35 Rs419.20+62.0%
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