Five years ago, Sri Lanka’s government imposed stricter rules on visa requirements. This happened as part of an on-going process to improve administrative procedures following the end of the war in 2009. Since the new visa laws were proposed, a new government has come into power. What impact do the new visa requirements and this new government’s enforcement of the rules have on real estate investment on the island? Leading property portal Lamudi finds out,
Visa Programmes in Sri Lanka’s New System
Since the end of the war, Sri Lanka’s immigration services have evolved considerably. The process of applying for a visa and having a visa approved is now more similar to processes in fully developed countries like Australia. All visitors to Sri Lanka now require an electronic travel authorisation document (ETA) to enter the country. This represents a similar procedure to the USA and Canada’s immigration services. When it comes to spending longer periods of time in the country, (and depending on your citizenship) you can either apply for a Visitor Visa (for a short stay), or a Residence Visa. There are various different types of Residence Visa.
A study by Verité Research (VR) together with the Lanka Fruit and Vegetables Producers, Processors and Exporters Association (LFVPPEA) found that domestic barriers faced by Sri Lankan exporters at the border of their own country to be a significant problem. These barriers exist especially for agricultural exports, which can enrich the rural and farm economy. Agricultural exports, especially perishables, suffer the greatest difficulty within the country, not outside.
The study identifies three types of domestic barriers that the export sector face when dealing with border agencies in Sri Lanka; 1) Regulatory barriers, 2) Administrative barriers and 3) Information barriers.
More women executives mean more profits: studyCompanies with 30 per cent female executives rake in as much as six percentage points more in profits, according to a study, feeding into a global debate over the scarcity of women in decision-making business roles.
The conclusion stems from a study of about 22,000 publicly-traded companies in 91 countries ranging from Mexico to Norway and Italy conducted by researchers at The Peterson Institute for International Economics, a Washington, DC-based think tank. “If you’re a firm and you’re discriminating against potential female leaders, that means you’re essentially doing a bad job of picking the best leader for your firm,” said Tyler Moran, one of the study’s three co-authors, in an interview, The Hindu reported/
The results indicate the presence of women in corporate leadership positions can boost a firm’s performance, suggesting a reward for policies that facilitate women rising through corporate ranks.
But the study found while having women in executive ranks resulted in better profitability, female CEOs or board members did not have a statistically-significant impact on the bottom line.
The findings further show that not all firms are created equal when it comes to fostering women leadership potential, with some more likely to encourage female managers depending on characteristics ranging from size to national policies such as family-leave.
Larger firms, for example, appear to appoint more women on boards and in upper executive ranks.
Karyn Twaronite, a spokeswoman for professional services company EY, which helped fund the study, said the results would likely prompt discussion over the need for different kinds of workplace arrangements.
“This research sheds light on the importance of establishing modern workplace benefits, providing equitable sponsorship opportunities and creating inclusive work environments, so that both men and women can have equal access to leadership positions,” she said.
Still, despite the bottom line incentives of drawing in more female managers, much needs to be done, the research found. Currently, about three in 10 companies worldwide have no women either in executive positions or on their board, the researchers found.