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Board of Investment

The Board of Investment of Sri Lanka had its origins in the Greater Colombo Economic Commission, which was established in 1978 to generate development in the outskirts of Colombo. Fourteen years later, in 1992, the Commission was reconstituted as the Board of Investment of Sri Lanka (BOI) with its mandate encompassing the entire island.

The BOI is structured to function as a central facilitation point for investors. It operates as an utmost statutory body. The Board of Directors drawn from the Private and Public sector and its several departments are geared to facilitating the investment process.

A high powered Cabinet Sub Committee inter-ministerial leadership providing a form for investor assistance has been set up to strengthen the BOI, clear all bottlenecks and ensure speedy clearance of investment approvals so that investors can implement projects in a hassle free atmosphere.

Investment climate monitoring is also being improved to ensure the nation’s competency profile. Sri Lanka’s advantages as a destination for investment will be highlighted and many of the questions raised by investors from overseas on how to set up businesses in Sri Lanka will be addressed.

The BOI companies today employ over 400,000 workers, They account for nearly 70% of Sri Lankan exports and 80% of the country’s industrial exports.

The Board of Investment of Sri Lanka (BOI), which is a statutory body, is structured to function as a central facilitation point for investors providing advice and assistance at every stage of the investment process. It provides various facilities to foreign investors as the “One stop shop”. It also facilitates the clearance of investment approvals from the government agencies enabling the investors to implement the projects.

Investments are protected from expropriation by the constitution and the law establishing the BOI through an agreement, ensuring a degree of stability through out the life of the enterprise.

Following are the main facilities providing by the BOI to the foreign investors.

  • Providing information and guidance before submission of the project application and co-ordinating approvals from other government agencies, if required.
  • Evaluating applications and providing concessions where applicable to the project.
  • Providing assistance during the start-up of the project, i.e. the selection of the site and technical advises.
  • Making recommendations to immigration authorities for issuing resident visas.
  • Facilitating import/export clearance and customs procedure for import of capital goods, raw materials and export of the final product.
  • Advising on environmental norms and facilitating environment approvals.

 Concessions for foreign investors.

  • Total foreign ownership is permitted.
  • No restrictions on repatriation of earnings and capital.
  • Protection is given by the sophisticated legal and regulatory framework. (eg. Intellectual property law.)
  • Bilateral investment protection agreements with twenty six countries and avoidance of double taxation agreements with thirty seven countries.
  • Tax exemptions.
  • Duty free imports of capital goods and raw material.
  • Bilateral and multilateral trade agreements enabling the easy access to foreign markets with minimum or zero tariff barriers.

 The Board of Investment of Sri Lanka

World Trade Centre
26th Floor, West Tower, Echelon Square
Colombo 01,Sri Lanka
Tel: 0094-11-2434403 – 5, 2435027, 2447531
Fax: 0094 – 11 – 2422407/2447995
e-mail: infoboi@boi.lk, web site: www.boi.lk