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Long-term visas for foreigners buying condominiums in SL

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A long-term residence visa scheme for foreigners buying condominium property in Sri Lanka was launched at the Board of Investment (BOI) auditorium yesterday (10).

Condominium Development Projects have been identified as one of the fastest growing industries in Sri Lanka at present.

The approval of the Cabinet has also been received for the implementation of the scheme to provide long-term visas in accordance with a request made by the builders of condominium units (luxury apartments) and the buyers from the government and the BOI.

By providing long-term visas, more foreign direct investment is expected to flow into the country and it will also encourage the investors in the development of luxury apartments and foreigners buying these houses.

Accordingly, individuals who invest US$ 200,000 in an urban area condominium are eligible for a 10-year long-term visa scheme while those who invest US$ 150,000 are eligible for 05 years. Further, investors who invest US$ 75,000 in suburban area condominiums are also eligible for 5 years.

On the other hand, companies that invest US$ 500,000 in an urban area condominium are eligible for a 05-year long-term visa scheme while companies that invest US$ 500,000 in a suburban area condominium are also eligible for a 05-year long-term visa scheme.

Speaking at the event, Minister of State for Investment Promotion Dilum Amunugama said that there are about 30,000 luxury apartments in Sri Lanka, of which about 5,000 are BOI investment projects. He said that long-term visas will be issued for all these projects under the scheme.

“This will expand the opportunities for foreigners from any country to buy and invest in condominiums in Sri Lanka. Investors from countries like China, India, Pakistan, South Korea, Russia and Iran have already invested heavily in this field. These projects will also be implemented in Galle, Kandy, Nuwara Eliya, Kurunegala and Ambalangoda,” the state minister said.

Registration of Condominium Housing Project Companies under the Department of Immigration and Emigration was done today and this programme is carried out by the BOI in collaboration with the Department of Immigration and Emigration and the Ministry of Defence.

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New constitution for SLC

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The Minister of Sports through the Attorney General today informed Court of Appeal that an Independent Panel of Governance Experts will be appointed in order to draft a new Constitution for the Sri Lanka Cricket (SLC).

Additional Solicitor General Sumathi Dharmawardena PC with State Counsel Rajika Aluwihare appearing for the Sports Minister made these remarks when the writ petition filed by a group of prominent individuals including former professional cricketer Muttiah Muralitharan was taken up for hearing before Court of Appeal.

ASG Dharmawardena told court that drafting of new constitution will be done with the assistance and expert advice of the Technical Committee of the International Cricket Council.

Dharmawardena said in a letter addressed to the Attorney General on August 30, 2022, the Sports Minister has informed that he would take steps to amend the Sports Law by a panel of experts with due Instructions to submit to him, an appropriate draft, which would cover Cricket as well.

President’s Counsel Sanjeeva Jayawardena with Counsel Dr. Milhan Mohomed appearing for the petitioners sought a further date to inform their stance regarding the petition in view of action taken by the respondents. The petition fixed for February 28 in order to evaluate the progress.

The Court was informed that following the discussion had on September 22, 2022 with the Attorney General along with the Minister of Sports and Youth Affairs and the Chairman of the National ports Council, it was decided to take necessary steps to amend the Sports Regulation No. 1 of 2016 to incorporate a new regulation which will make it mandatory for National Sports Associations (NSAs) to amend their respective constitutions to reflect the following matters.

(1). To introduce to criterion to grade clubs, associations and other organizations affiliated to NSAs which has the right to vote.

(2). To introduce to voting structure for the said categorized clubs, associations and other organizations affiliated to NSA.

(3). To have the Director General of Sports grade the clubs, associations and other organization affiliated to NSAs 90 days prior to holding elections to elect office bearers to NSAs.

The petitioners in this petition are; Muttiah Muralitharan, Kushil Gunasekera, Sidath Wettimuny, Michael Tissera, Justice (Retd) Saleem Marsoof PC, Dinal Phillips PC, Rienzie Wijetilleke, Thilan Wijesinghe, Vijaya Malalasekera, Ana Punchihewa, Somasundaram Skandakumar and Dr. Palitha Kohona.

The petitioners said they are expecting to form an independent committee of governance experts to draft a brand new Constitution for SLC with input from the International Cricket Council (ICC). We also wish to have this new Constitution passed as an Act of Parliament to avoid any dilution or compromises at the hands of vested interests, the petitioners said.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

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Palaly airport to recommence services from Dec. 12

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The Palaly International Airport is to recommence services from Dec. 12, State Minister of Ports and Aviation, Premalal Jayasekara says.

The airport suspended services due to the Covid-19 pandemic, and maiden flight since the reopening is to be a flight from India.

MP Jayasekara said this during the committee stage debate of the Budget 2023 in the parliament today (Dec. 05).

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Galborella warehouse fire doused (Pics)

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The fire brigade has successfully doused the fire which had broken out in the upper storey of a warehouse at Galborella, Kelaniya.

The lower and upper storeys of the warehouse, which had housed electrical equipment, had been gravely damaged by the fire.

Power was also disconnected in the area in the morning, due to the fire

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