Sri Lanka Introduces Digital Nomad Visa

Remote work lovers are now able to head to Sri Lanka and work remotely for clients or companies in different locations across the world after this South Asian country’s authorities have approved the launching of the Digital Nomad Visa.

The introduction of this kind of permit was announced for 2021; however, its official launching has been confirmed only now, VisaGuide.World reports.

Requirements to hold the Digital Nomad visa is to have at least a $ 2,000 monthly income, which should be channelled through the Sri Lankan baking system.

Holders of this visa will be eligible to renew it every year upon the verification of the necessary funds. Applicants are required to pay a $500 application fee, and it also covers the visa holder’s spouse and dependents.

Obtaining a valid passport for at least six months after reaching this country and working remotely as an employee, freelancer, or business owner for clients located abroad are other requirements that are known so far for those who want to benefit from this temporary residence permit.

Those who plan to travel to Sri Lanka through the Digital Nomad Visa must also be aware that they will not have the right to seek local employment or engage in business economic activities once they hold this visa.

The launching of the Digital Nomad Visa was proposed by Minister of Public Security Tiran Alles, aiming to attract global talent.

The Digital Nomad Visa is expected to boost tourism in Sri Lanka, thus leading to the rapid recovery of the economy from the COVID-related restrictions.

“By promoting these initiatives proactively and effectively, Sri Lanka can position itself as an appealing destination for remote workers, freelancers, and digital nomads, harnessing their economic contributions to bolster its foreign exchange reserves and boost the overall economy.

The same sources told the IIT that this strategic approach can help the state diversify its revenue streams, reducing its vulnerability to external economic fluctuations and contributing to long-term economic stability.

The figures from the Sri Lanka Tourism Development Authority revealed that, compared to last year’s figures, the number of tourist arrivals this year marked a significant increase, reaching its peak in July with a total of 143,039 arrivals.