Standard Chartered Bank SFIDA – The best tax free returns for your foreign currency deposits.
What is SFIDA?
SFIDA or special foreign investment deposit account is the latest deposit account from standard chartered bank specially designed for foreign currency depositors. It’s the best way to enjoy higher interest rates on your money. What’s more sfida is exempt from income tax, withholding tax and debit tax giving you a total tax free return.
How does SFIDA work?
Make a minimum initial deposit of USD 10,000 or equivalent. You have the option of maintaining a foreign currency account or converting your foreign currency deposit to sri lankan rupees and enjoying a higher interest rate.
SFIDA - Guaranteed Return on your deposit
If you wish to maintain your deposit in sri lankan rupees we can guarantee a conversion rate by booking ahead. Forward booking is a special mechanism introduced by standard chartered bank which allows you a guaranteed return on your deposit.
Who is SFIDA for?
- Non Sri Lankan Citizens In Foreign Countries
- Citizens Of Foreign Countries Holding Temporary Visa To Live Or Work In Sri Lanka
- Sri Lankan Citizens Employed Overseas
- Corporate Entities Registered Outside Sri Lanka
- Foreign Institutional Investors - Country Funds, Mutual Funds And RegionalFunds