3 international banks negotiate offshore operations in Sri Lanka's Colombo Port City, with 25-year tax exemptions and potential $15B investment.

Three international banks are negotiating to set up offshore operations in Sri Lanka's Colombo Port City, alongside discussions with seven local banks. Recent parliamentary approval of regulations provides potential investors with significant benefits, including 25-year tax exemptions, full capital repatriation, and 100% foreign ownership. This aims to bolster the Colombo Port City Special Economic Zone, potentially attracting up to $15 billion in investments, according to estimates.

September 11, 2024
9 Articles