Investment Opportunities in Sri Lanka: The Port City Colombo
The Port City Colombo is developed in collaboration with CHEC PORT CITY COLOMBO (PVT) LTD and the Government of Sri Lanka as a Public-Private partnership. The COLOMBO PORT CITY ECONOMIC COMMISSION has been established under the Colombo City Port Economic Commission Act No. 11 of 2021 as the single window investment facilitator for the promotion of ease of doing business within the Colombo Port City Special Economic Zone. The project presents a number of opportunities for investors to be stakeholders of a world-class city in South Asia.
Port City Colombo is an exclusive master planned city development envisioned around a world-class, service-oriented Special Economic Zone (SEZ), financial center and business hub strategically located in Sri Lanka, at the hearth of South Asia.
Port City Colombo will feature top-quality infrastructure, showcasing urban sustainability while linking regional markets through a Special Economic Zone (SEZ) and a well-governed financial district with progressive, business-friendly policies and processes. This distinctive project will also feature luxury residences, premium and retail spaces and serviced apartments with state-of-the-art communications and security, surrounded by a meticulously landscaped green environment.
The Port City Colombo regulatory framework is benchmarked to international standards and will be governed by the Colombo Port City Economic Commission (CPCEC), the single window investment facilitator, which comprises a modern legal framework and attractive, progressive policies designed towards ease of doing business.
Sri Lanka’s first multi-services special economic zone (SEZ) – Special Advantages
The primary objective of the SEZ is to augment the ease of doing business to promote export of services and FDIs:
- Single Window Facilitation by the Colombo Port City Economic Commission
- Exemptions granted under the Foreign Exchange Act No. 12 of 2017, to enchance mobility of capital
- Employees to be remunated in foreign currency and 0% tax on employment income
- Visas of 5-10 years for investors, businesses, employees, and residents, including eligibility for spouses and dependents
- Investment protection mechanisms through law and contracts
- A dedicated International Alternate Dispute Resolution Center
- 25+ year tax incentives and exemptions available for Businesses of Strategic Importance
- Freely transact in 16 designated foreign currencies
- No cap on foreign employment
Enacted in May 2021, the Colombo Port City Economic Commission Act established a single window investment facilitator, referred to as the Colombo Port City Economic Commision, to promote, administer and regulate business activities within the Colombo Port City.
Interim provisions of the Act permit registered and approved Authorized Persons can operate from outside the area of authority of Colombo Port City for a period of up to 5 years from the date of the enactment of the Colombo Port City Economic Commission Act No. 11 of 2021 in designated locations and enjoy the benefits granted until the commercial office spaces are ready for occupancy.
Key Contact Points of the CHEC PORT CITY COLOMBO (PVT) LTD:
- Mr. Shane Amadoru
Regional Manager – Investment Promotion and Marketing
E: shanea@chec.lk / M: +94 776 666 082 - Mr. Asiri Peramunugama
Senior Manager – Investment Promotion and Marketing
E: asiri@chec.lk / M: +94 776 273 352 - Mr. Shalaka Wijeyaratne
Executive Director – Investment Promotion and Marketing
E: shalakaw@chec.lk / M: +94 777 750 555 - Ms. Dhanya Gunawardana
Head of Branding and Communications
E: dhanya@portcity.gov.lk / M: +94 742 427 432
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