Incredibly misleading title, makes it sound like this applies to migrant workers or remote workers and freelancers
REPATRIATION OF EXPORT PROCEEDS INTO SRI LANKA
1. These Rules shall be cited as "Repatriation of Export Proceeds into Sri Lanka Rules No. 2 of 2026" and shall come into effect on which date these Rules are approved by the Parliament.
2. The Repatriation of Export Proceeds into Sri Lanka Rules No. 1 of 2024 issued by the Central Bank of Sri Lanka and published in the Gazette (Extraordinary) No. 2391/02 dated 01 July 2024, as amended by the Repatriation of Export Proceeds into Sri Lanka Rules No. 1 of 2026 published in the Gazette (Extraordinary) No. 2473/30 dated 30 January 2026, is hereby further amended.
(a) by the repeal of Rule 4 thereof and the substitution therefor, of the following new Rules-
"4. Every exporter of goods, who receives export proceeds in Sri Lanka, during any calendar month, in terms of Rule 3 above, shall mandatorily convert residual of the export proceeds received in Sri Lanka, into Sri Lanka Rupees upon utilizing such proceeds only in respect of the below mentioned authorized payments, on or before the tenth (10th) day of the following month.
(i.) payments in respect of current transactions related to the export business including one-month commitments thereof;
(ii.) debt servicing expenses and repayment of foreign currency loans and accommodations obtained by the exporter of goods, where such foreign currency loan/ accommodation is a permitted borrowing in terms of the Regulations, Orders and Directions issued by the Central Bank of Sri Lanka under the provisions of the Foreign Exchange Act, No. 12 of 2017 or Banking Act, No. 30 of 1988, as amended, including one-month loan commitments;
(iii.) payments of dividends declared to non-resident investors and /or payments of salaries to expatriate employees who are foreign nationals or dual citizens as permitted under the Directions issued in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017;
(iv.) withdrawal in foreign currency notes or transfer of funds for travel purposes related to export business;
(v.) payments in respect of making investments in debt securities denominated in foreign currency issued by the Government of Sri Lanka up to ten per-centum ( 10%) of the export proceeds, so received; and (vi.) payments to indirect exporters of goods and services who have commitments in foreign currency as permitted under the Directions issued in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017."
(b) by the repeal of Rule 6 thereof and the substitution therefor, of the following new Rules-
"6. Every indirect exporter of goods and services who receive payments in foreign currency out of the export proceeds in terms of Rule 4 (vi) above, during any calendar month, shall convert the residual of such receipts into Sri Lanka Rupees, upon utilizing the same only in respect of the authorized payments as stipulated in the Rule 4 (i) to (v), on or before the tenth (10th) day of the following month."