IIA

Inward Investment Account

Inward Investment Account (IIA) is a special account designated for eligible investors resident in or outside Sri Lanka to route funds to invest in the permitted investments

IIAs can be opened in the forms of Savings Accounts, Fixed Deposit Accounts or Current Accounts (Without a cheque drawing facility) in the following designated foreign currency in the domestic banking unit.

LKR - Sri Lanka Rupee
USD - US Dollar
GBP - Sterling Pounds
EUR - Euro
JPY - Japanese Yen
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollars
SGD - Singapore Dollars
NZD - New Zealand Dollar
CNY - Chinese Renminbi

No initial deposit and minimum balance for IIA Savings or Current Accounts
For the Current Accounts
» Cheque Books and overdrawn facilities (OD) not available
For Fixed Deposit
» FDs are opened only for those who maintain IIA Saving accounts and Current Accounts
» Fund transfers on opening and closing of fixed deposits to be made only through IIA Savings or Current Accounts

Eligibility

A non- national, resident in or outside Sri Lanka
A Sri Lankan dual citizen, resident in or outside Sri Lanka
Sri Lankan national who has obtained Permanent Residency (PR) status or citizenship in another country, resident in or outside Sri Lanka
A Sri Lankan citizen employed abroad, resident outside Sri Lanka (excluding emigrants)
A company incorporated outside Sri Lanka
A partnership registered outside Sri Lanka
Country funds, Regional Funds, Mutual Funds, Unit Trusts and Foreign Institutional Investors established outside Sri Lanka
An administrator or executor of the estate of a deceased person, who maintained an IIA with the bank
A receiver or liquidator of a company that maintained an IIA with the bank

Documents and information

Eligible individuals

The eligible individual person should submit originals of the following documents
» Request letter to open IIA including investment details

Account opening applications
Customer registration application
Know Your Customer (KYC) form
FATCA Declaration If applicable
Tax Declaration If Applicable

» Address verification documents. (If the address given to the bank is different from the National Identity Card / Driving License/Passport.)
» Source of funds proofs (Bank statement with the balance of investment funds)
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, the originals of the applications and other supporting documents duly authorized by any person mentioned below to reach the respective branch to open IIA.
i. BOC Business Promotion Officer (BPO)
ii. Authorized officials of BOC Branches/Bank abroad
iii. Authorized officials of the Sri Lankan Embassy