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Message: <blockquote data-quote="^Buddhika^" data-source="post: 16567774" data-attributes="member: 476659">uba methanadi karanne business ekak neme neda professional service ekak foreign  customer kenekta dena eka 7. Foreign Currency Accounts for Professional Services Providers (FCAPS) This scheme has been introduced for individuals, firms or companies in Sri Lanka for those who provide professional services to residents outside Sri Lanka and/or to local firms or companies earning foreign exchange. This account was expected to encourage professional services providers, who render their services to residents outside Sri Lanka and/or to local firms or companies who earn foreign exchange.An undertaking should be obtained from the individual, all partners and the Board of Directors as the case may be to the effect that the individual/firm/company is already engaged in providing professional services and that only the payments received in foreign exchange for the provision of such services will be credited to the account.CreditsInward remittance received in convertible foreign currency through an Authorized Dealer for providing professional services to residents outside Sri Lanka.Payment received in foreign exchange by way of bank draft or bank transfer for professional services rendered to firms/companies who earn their revenue in foreign exchange.DebitsPayment in foreign exchange to residents outside Sri Lanka on account of Current Account transactions of the individual/firm/companyDisbursement in Sri Lanka Rupees is freely permitted. Withdrawals in Sri Lanka Rupees shall not be eligible for conversion into foreign currency and for re-crediting to the account.Payment to another FCAPS on account of professional services provided.</blockquote>

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