Invest in Sri Lanka Government Securities, Equity capital of companies incorporated in Sri Lanka and Units of unit trusts in Sri Lanka.

• Potential to earn higher returns by investing in Government Securities
• Not subjected to further taxation when investing in Government Securities, since a withholding tax of 10 percent of interest is charged at source
• No exchange control regulations to repatriate interest, maturity proceeds, sales proceeds of shares, dividend payments, liquidation proceeds of companies and proceeds of redemption of units in any designated currency to your overseas account
• Ability to forward book foreign exchange to mitigate potential exchange rate risk
• Ability to track your account by using Personal Internet Banking from HSBC
• Eligibility for Dual Citizenship

• Sri Lankan Diaspora, migrant workforce and Citizens of foreign states now have the ability to invest in Sri Lanka Government Securities, equity capital of companies incorporated in Sri Lanka and units of Unit Trusts in Sri Lanka
• Remittances to the SIA would automatically be converted at the prevailing exchange rate to Sri Lankan Rupees (local currency) and can be invested in the above
• Original investment and any income realized, can be repatriated in any designated foreign currency to an account specified by you
• Transfer of funds between SIA of the same account holder is permitted
• SIA maybe held jointly by eligible investors
• Further, eligible investors who invest in T-bonds/T-bills are permitted to enter into repurchase and reverse repurchase transactions using T-bonds/T-bills purchased under this scheme as collateral

Credits to Security Investment Account:

• Inward remittances received from abroad through the banking system
• Transfer of funds from NRFC/FCBU/RNNFC accounts of the same account holder
• Sale proceeds realized out of sale or transfer or maturity of T-bonds/T-bills or any income realized by way of capital gain thereof
• Sale proceeds of shares supported by documentary evidence (Broker’s contract notes and evidence of payments of tax etc.) and dividends
• Dividend income on units of Unit Trusts net of tax supported by documentary evidence
• Proceeds on redemption of units net of tax supported by documentary evidence
• Proceeds realized out of sale or transfer or maturity of debentures
• Commissions relating to share transactions with supporting evidence
• Liquidation proceeds of companies
• Interest received from T-bonds
• Interest accrued on debentures
• All other credits permitted on shares in terms of operating instructions No.06/02/12/2001 dated 06/11/2001 in respect of stock borrowings and lending (SBL) transactions

Debits to Security Investment Account:

• Payment for investment in shares/units of unit trusts/T-bond/T-bill/debentures
• Outward remittances of sale/redemption/maturity or liquidation proceeds of shares/units/T-bonds/T-bills/debentures and dividends of shares or units
• Payments to brokers, primary dealers, lead managers, management company of a Unit Trusts and bank charges
• Payments for local expenses of the account holder
• Transfer of funds to the accounts maintained by the account holder at FCBU
• All debits permitted in the operating instructions No.06/02/12/2001 dated 06/11/2001 in respect of SBL transactions on shares

Eligibility

• Foreign institutional investors such as country funds, regional funds or mutual funds
• Corporate bodies incorporated outside Sri Lanka
• Citizens of foreign states whether resident in Sri Lanka or outside Sri Lanka
• Non-resident Sri Lankans
• Sri Lankan professionals living in Sri Lanka who receive inward remittances
• Dual citizens who receive inward remittances

Minimum Investment

A minimum investment of US$10,000 or equivalent in other designated foreign currencies.

Instructions

Transactions will be carried out on "Execution-Only" basis where no investment advice, suggestions or other guidance related to the investment is provided by HSBC.

• Open a Securities Investment Account