Share Investment Rupee Accounts - SEIRA

We open "Share Investment External Rupee Accounts"(SIERA) for following categories of foreign investors to facilitate their investments in shares of companies listed/unlisted at the Colombo Stock Exchange subject to Exchange Control Regulations.

• Country Funds and Regional Funds approved by the Ministry of Finance and Companies incorporated outside  Sri anka               

• Citizens of  foreign states (whether resident in Sri Lanka or outside Sri  Lanka) and Sri Lankans resident outside Sri Lanka

Permitted Credits

• Inward remittances
• Transfers from  NRFC/Off-shore accounts
• Sale proceeds of shares and dividends earned on shares
• Commissions relating to transaction of shares
• Fees and any corporate benefits received by a non resident lender in respect of shares lent to a borrower under the Stock Borrowing and Lending Scheme SBL)
• Cash collateral paid out of a SIERA of a non resident borrower andrefunded to the same non resident borrower under the SBL scheme
• Cash to be credited to the lender in the event of any failure to transfer shares by the borrower under the SBL scheme

Permitted Debits to SIERA

• Expenses for the purchase of shares
• Remittances of dividends of shares
• Local expenses of the account holder
• Payment to stock brokers or commercial banks as commissions
• Fees and funds required to pay corporate benefits to the security lender on shares borrowed by a non resident borrower under the SBL scheme
• Any cash collected to be provided by a non resident borrower 

Documents we need

• For Individuals
  Photocopy of the pages of Passport with Photograph and details
  Mandate Form duly completed and signed
• For Companies
  Copy of the Memorandum of Association and Article of Association duly certified Mandate Form duly completed and signed

For more details

   The Manager
   BOC Personal Branch
   1st Floor Head Office
   Colombo  1  -   Sri Lanka 
           
   Tel: + 94 11 2321174   Fax: +  94 11 2391980   E Mail:boc681@boc.lk     

Click here to download Account  Opening Applications:
   - for Individuals
   - for Companies