The conditions that must be fulfilled in order to operate duty-free retail businesses or duty-free shopping malls at the Colombo Port City have been published by the Sri Lankan government.
In his capacity as the Minister of Investment Promotion, President Ranil Wickremesinghe published a special communiqué on October 25, 2023, outlining the prerequisites.
In accordance with the Colombo Port City Economic Commission Act, No. 11 of 2021, the Gazette was published.
Consequently, in order to operate a duty-free retail firm, an investor must invest a minimum of USD 5 million and possess international-level experience in duty-free trade operations.
Meanwhile, operating a duty-free retail mall requires an investor to invest at least USD 7 million.
