Purpose of CTRA

  • To claim the migration allowance and current income abroad
  • Eligible persons may claim migration allowance only at the time of leaving Sri Lanka (initially or subsequently) or at the time that the emigrant is residing outside Sri Lanka
  • A minor, who is an eligible person may open CTRA. However, he/she is eligible for migrant transfers only after reaching the age of 18 years

Features

  • The CTRA may be opened and maintained in the form of a Savings or Current account, in Sri Lankan Rupees
  • CTRA current accounts can be provided with a cheque book. However, the overdrawing facility shall not be allowed
  • Eligible persons shall open only one CTRA in the banking system
  • CTRA shall be held as sole account by eligible persons
  • Only natural or legally appointed guardian can open a CTRA for eligible minors (i.e. persons aged below 18 years)
  • The initial deposit and minimum balance requirements are not applicable for CTRA savings or current accounts.

Types of CTRA

  • CTRA
  • CTRA (Administrator or Executor)
  • CTRA (Minor)
Eligibility
  • An emigrant, resident in or outside Sri Lanka
  • A Non- National resident in or outside Sri Lanka including minors of such person
  • An individual Sri Lankan resident in or outside Sri Lanka who has obtained Temporary Resident visa in another country, aged 18 years or above
  • An individual Sri Lankan resident in Sri Lanka who is a prospective migrant under the parent migration scheme
  • An administrator or executor of the estate of a deceased person who was an emigrant.

    "An emigrant" means;
     (a) a Sri Lankan who has obtained permanent residency status or citizenship in another country;
     (b) a dual citizen of Sri Lanka whose mother or father was born in Sri Lanka; or
     (c) a non-Sri Lankan citizen whose mother or father was born in Sri Lanka; and whose birth has been registered in Sri Lanka,
    and includes the minors of persons referred to in paragraphs (a), (b) and (c);
Requirements to open CTRA
  • Bank should obtain a registration number from the Director of the Department of Foreign Exchange prior to opening a CTRA for an eligible person
  • The eligible person should submit the following scanned documents (as applicable) to obtain a registration number
    i.   A completed form (will be filled out by the Bank)
    ii.  A copy of the identification page and alternative and observation pages of the current passport
    iii. A copy of the Permanent Residency (PR) endorsement or other documentary evidence/s to prove the PR date and country
    iv. A copy of the certificate of citizenship or dual citizenship
    v.  If the emigrant has been born outside Sri Lanka, a copy of the certificate of birth registered in Sri Lanka (if any)
  • In addition to the above documents, the following documents to be submitted
     Download Account opening applications 
     Download Customer registration application
     Download Know Your Customer (KYC) form
     Download FATCA Declaration If applicable
     Download Tax Declaration If Applicable  
    » Address verification documents. (If the address given to the bank is different from the National Identity Card / Driving License/Passport.)
  • The eligible person who is an individual resident outside Sri Lanka and who could not visit the branch to open the account, should require to forward, originals of the applications and other supporting documents duly authorized by any person mentioned below to reach the respective branch to open CTRA.
    i.   BOC Business Promotion Officer (BPO)
    ii.  Authorized officials of BOC Branches/Bank at abroad
    iii. Authorized officials of Sri Lankan Embassy
Limits of Migration allowance

Customer Type

Type of Migration Allowance

Limits (USD)

An Emigrantinitial migration allowancea maximum of 50,000

 
annual migration allowancea maximum of 20,000
A temporary resident visa holderMigration allowancea maximum of USD 20,000

Note:  
For aforesaid limits, the restrictions and limitations implemented under the Government Gazette (Extraordinary) No. 2286/27 dated 30th June 2022 under the section 22 of the Foreign Exchange Act, No. 12 of 2017 (FEA) valid for a period of six months from the date of 28th June, 2022

For any assistance 

Foreign Circle
International Customer Service Support Unit

+94 11 220 3859
+94 11 220 3860
+94 11 220 3886
+94 11 220 3887

 
+94 707 203203
+94 707 204204
+94 707 205205

 fc@boc.lk