Central Bank of Sri Lanka PFCA wire repatriation: inward remittance advice forms?
3 Answers from travellers
Under the Foreign Exchange Act No. 12 of 2017 regulations issued by the Department of Foreign Exchange of the CBSL, dual citizens can open and maintain PFCAs in recognized currencies (USD, EUR, GBP). Funds credited must originate from inward foreign remittances, unutilized travel funds, or legitimate offshore earnings. Funds held within a PFCA can be freely remitted overseas without prior central bank exchange approval. Converting balances into local rupees is irreversible.
Interest accrued on qualifying foreign currency balances held by eligible non-residents is typically exempt from domestic withholding tax schemes, provided source-of-wealth records are filed.
Keep electronic wire advice slips for every inward transfer; carrying paper trail documentation avoids delays during subsequent repatriation audits.
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