Foreign Currency Account for International Service Providers and Employees

What is FCAISPE ? 

Foreign currency accounts for international service providers and employees or FCAISPE is a Foreign Currency account specially meant for companies / individuals / partnerships  registered in  Sri Lanka and rendering specified services outside Sri Lanka. 

Who are eligible to open a FCAISPE  

• A company / Partnership / individual rendering specified services to any person outside Sri Lanka including its staff who may be employed on contract or permanent basis. 

Permitted credits

Proceeds received through banking channels for international services provided abroad.

Employment wages, paid out of foreign currency received by an employer for the specified projects.   

Permitted Debits

Payment in foreign currency in the form of bank transfers to employees directly involved in specified projects.    

Payment in foreign currency outside Sri Lanka, subject to Exchange Control regulations.

Withdrawal in Sri Lankan Rupees.

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