Monday, October 5, 2009

How Overseas Investors invest in The Colombo Stock Exchange (CSE)

Are you a foreign invester who is interested to invest in SriLanka share market?
The Colombo Stock Exchange (CSE) is a liberalized exchange and permits both non-nationals and expatriate Sri Lankans an opportunity to invest and also repatriate their investments and profits efficiently.
Overseas investors who wish to repatriate their investments and profits are required to open a Share Investment External Rupee Account (SIERA) with a Commercial Bank operating in Colombo to facilitate these transfers.
SIERA (Share Investment External Rupee Account)
The SIERA is a transactional account used for the purpose of making investments in Sri Lanka using foreign currency. The Investor who brings in foreign currency is permitted to repatriate the investment and profit without specific exchange control approval.
Documentation required to open a Share Investment External Rupee Account (SIERA)
1. Account opening forms and signature cards2. Copy of Passport3. Letter of Introduction
The following transactions could be routed through the SIERA
1. Payments for investments2. Debits in respect of the account holder's expenses in Sri Lanka3. Payments to brokers and bank charges4. Debits in respect of outward remittances of dividends and sale SSproceeds of shares and units of permitted unit trusts5. Funds payable pertaining to Stock borrowing and Lending SStransactions.
1. Inward remittances or NRFC/ FCBU transfers of the investor.2. Sales proceeds of shares and units of permitted unit trusts SSsupported by documentary evidence3. Dividend paid on shares supported by documentary evidence4. Commissions relating to item 2 and 3 above supported by SSdocumentary evidence.5. Funds received from participating in Stock borrowing and SSLending transactions.

Stock Brokers

The Colombo Stock Exchange (CSE) has fifteen (15) stock brokering firms, that offer brokering services to clients. Contact these companies as listed below..

Amana Securities Ltd

Asia Securities (pvt); Ltd

Bartleet Mallory Stockbrokers (Pvt) Ltd

Capital Alliance Holdings Ltd

Ceylinco Stockbrokers (pvt); Ltd

CT smith Stockbrokers (pvt); Ltd

DFCC stockbrokers (pvt); ltd

DP Global securities (pvt); Ltd

First Capital Ltd

HNB Stockbrokers (pvt); Ltd

JB Securities (pvt); Ltd

John Keells Stockbrokers (pvt); LTD

Lanka Orix Securities (Pvt) Ltd

Lanka Securities (Pvt); Ltd

MMBL Phillip Securities Ltd

NDBS Stockbrokers (Pvt) Ltd

SC Securities (pvt); Ltd

Seylan Merchant Bank Ltd

Somerville Stockbrokers

Taprobane Fund Management Ltd

1 comment:

  1. Can you please provide links to the above list of stockbrokers ?
    Thanks in advance