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Exchange Control

Exchange Control and Foreign Currency Declaration limits  

With  effect  from  12 June 2013 the Exchange Control Regulations of Sri Lanka
monitored by Sri Lanka  Customs is as follows.

Central Bank of Sri Lanka is the governing body for these measures and limits,
which are as follows:


1. A person may bring any sum of money in foreign currencies into Sri Lanka. This sum could be in Bank drafts or currency notes. However, if the total of such sum exceeds US$ 15,000, such sum should be declared to the Sri Lanka Customs.


2. If a person wishes to take out from Sri Lanka a sum in excess of US$ 5000 in currency notes out of the sum brought in as per (1) above, such person should declare the entirety of the sum brought in, even if it is less than US$ 15,000.


3. Any person may take out from Sri Lanka a total of legally acquired foreign currency in any form up to US$ 10,000 without any declaration. However, if the sum in currency notes exceeds US$ 5,000, the entirety of the sum must also be declared.


4. Any person can bring in any sum of foreign currency earned from employment, profession or business abroad and upon declaration of such foreign currency to Customs as per (1) above and may retain such sum in his/her possession for 90 days before changing into Sri Lanka Rupees.


5. Any person who has obtained foreign currency from a Bank, Authorized Travel Agent or Authorized Money Changer for overseas travel, may retain in his/her possession the unused sum for 90 days before changing into Sri Lanka Rupees.


6. Foreign currency retained by any person as per (4) and (5) above may be used for subsequent visits abroad for permitted transactions within the allowed period of retention.


7. Any person returning after travel abroad may retain without any time limit, US$ 2000 out of foreign currency purchased for such travel or earned by him/her outside Sri Lanka for his use during future travels.


(The foreign currency amounts indicated above in US $ may be in equivalent amounts in other convertible foreign currencies)


See also: Duty Free Allowances

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