Colombo, Mar 4 (IANS): The Sri Lankan government on Monday said that it will change its immigration rules to offer multiple entry visas for business travellers who aim to trade and invest in the island country, according to media reports.

Local media quoted the state information office as saying that the Cabinet of Ministers approved a proposal by Minister of Internal and Home Affairs Vajira Abeywardena to change the Immigrants and Emigrants Act in order to implement the new visa scheme.

The government aims to extend the duration of tourist visas and issue multiple entry visas for commercial activities, Xinhua news agency reported citing a statement from the Information Department.

The amendments will launch a visa system to attract investors and introduce a single fee scheme for tourist visas.

Currently, tourists are only granted a one-month visa and if it needs to be extended, tourists need to make a further payment.

A penalty fee of $500 will also be introduced for those who overstay in the country without visas.