The Cabinet has approved the introduction of new visa categories for the Colombo Port City.

The Department of Immigration and Emigration is tasked with issuing visas to investors and other related parties who would visit the country for various services such as international trade, shipping and operations, finance, information technology and tourism to be established in the Port City.

Accordingly, the Cabinet has approved the proposal presented by the Minister of Public Security to take necessary steps to introduce the following visa categories based on the recommendations of the Colombo Port City Economic Commission.

Under the ‘Residence Visa’ category, “Investment Visa” for investors, “Employment Visa” for employees and “CPC Residential Property Lease Buyer Visa” for foreigners living on tax basis in Port City have been approved.

Meanwhile, Ajlan and Bros Holding Group, one of the largest conglomerates in the Middle East (Saudi Arabia), has entered into an agreement with CHEC in Riyadh, a subsidiary of CHEC (Pvt) Ltd, the operating company of the Port City project, to launch several development projects in the Port City. The value of the investment is 1.3 billion USDs.