Business Foreign Currency Account (BFCA)

The following person resident in Sri Lanka and earn foreign exchange by providing goods or services to a Non-resident eligible to open BFCA.

• An individual resident in Sri Lanka.
• A sole proprietorship or partnership registered in Sri Lanka where the proprietor or a majority of partners are resident in Sri Lanka (in case of a partnership with two partners, at least one partner shall be a resident in Sri Lanka).
• A company incorporated in Sri Lanka.
• A company incorporated outside Sri Lanka which is registered as an overseas company under the Companies Act No 7 of 2007.
• A State Institution with the recommendation of the Secretary to the relevant line Ministry or appropriate Authority.
• A person authorized to carry on business as a shipping agent or a general sales agent in Sri Lanka on behalf of a foreign shipping line or airline (foreign principal) with a valid license or authorization letter issued by the Director General of Merchant Shipping and Director General of Civil Aviation Authority of Sri Lanka, respectively.
• An administrator or executor of the estate of a deceased person, who maintained a Business Foreign Currency Account with that authorized dealer or restricted dealer, until the completion of the administration of the deceased persons’ estate.
• A receiver or liquidator, in the name of a company that maintained a Business Foreign Currency Account with that authorized dealer or restricted dealer, until proceedings are concluded.