ID and Cash Limits for Buying Gold in Sri Lanka

In Sri Lanka a jeweller or gem dealer must check your NIC, passport or driving licence, and keep a copy, when you pay cash equal to US$15,000 or more (in rupees or foreign currency). No legal cap on paying cash was found. Dealers report suspicious transactions to the Financial Intelligence Unit, and the FIU fines jewellers that skip ID checks.

Facts checked 31 October 2026 · Not financial, legal or tax advice

At a glance

Situation	Rule	Notes
Buying jewellery or gold	ID check for cash of US$15,000 or more (rupee equivalent).	Dealer inspects the original NIC, passport or driving licence and keeps a copy.
Paying cash	No legal cap found for buyers.	Since 2023, businesses can't deduct cash payments of over Rs 500,000 a day for tax.
Selling	Same US$15,000 cash trigger for the dealer's CDD.	No rule found on how the dealer must pay you.
Reported	Suspicious transactions to the FIU.	The 2026 amendment sets a deadline of two working days.

The rules in detail

Gem and jewellery dealers are designated non-finance businesses under the Financial Transactions Reporting Act No. 6 of 2006. The Designated Non-Finance Business (Customer Due Diligence) Rules No. 1 of 2018 (Gazette 2053/20) apply to dealers in precious metals and stones when they have a cash transaction with a customer of US$15,000 or more, in rupees or foreign currency.
For that check the dealer takes your full name, address, occupation, date of birth, nationality, phone number, source of funds and purpose of the purchase. It also needs an official ID number or photo ID, such as an NIC, passport or driving licence, and must see the original and keep a copy. Records are kept for at least six years.
Enforcement is real: in October 2024 the FIU fined Vogue Jewellers Rs 750,000 for not obtaining ID from customers paying US$15,000 or more in cash.
Parliament passed the Financial Transactions Reporting (Amendment) Act No. 17 of 2026 and the Prevention of Money Laundering (Amendment) Act No. 16 of 2026 on 9 July 2026, certified on 4 August 2026. They add risk-based CDD and higher penalties, and require suspicious transaction reports within two working days.

When you sell

For a cash deal at or above US$15,000, expect the same ID check and questions on the source of the gold.
Large payouts may come by bank transfer, because a business can't deduct cash payments over Rs 500,000 a day for tax.

Silver and travel

The CDD rules cover dealers in precious metals as well as stones, so silver bought from a covered dealer falls under them too.
Carrying gold or cash in or out of Sri Lanka is a customs matter. See the travel-allowance page.

No cash-transaction reporting threshold for jewellers was confirmed: the 2018 CDD rules set only the US$15,000 ID trigger. The 2026 amendments let the Minister set cash-report thresholds by type of business. The amendments' start date and any new figures weren't published in the sources found.

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Gold ID and Cash Limits in Sri Lanka: FAQ

Do I need ID to buy gold in Sri Lanka?

Yes, if you pay cash worth US$15,000 or more in rupees or foreign currency. The dealer must check your NIC, passport or driving licence, keep a copy and record where the money came from.

Is there a cash limit for buying gold in Sri Lanka?

No legal cap on paying cash was found. Large cash purchases trigger ID checks, and dealers must report suspicious transactions to the Financial Intelligence Unit.

What changed in Sri Lanka's money-laundering law in 2026?

Amendments to the Financial Transactions Reporting Act and the Prevention of Money Laundering Act were passed in July 2026 and certified in August. They tighten customer checks, raise penalties and require suspicious transaction reports within two working days.

Sources (5)

General information for individuals buying or selling gold, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.