Though it is very confusing both US and Sri Lanka immigration laws recognize dual citizenship which is a novel concept. The US Supreme Court struck down most laws banning dual citizenship in 1967. In Sri Lanka, foreign citizens cannot own real estate property (it is not retrospective), except under certain circumstances and this law applies to former Sri Lankan citizens who become foreign nationals by subsequent citizenship. A person can be a citizen only in one country; therefore, those Sri Lankans who obtain citizenship in another country loses Sri Lankan citizenship by virtue of law. The dual citizenship exception is necessary in order for these citizens to continue own real state property in Sri Lanka. The Citizenship Act in Sri Lanka also allows intended dual citizenship for someone who is seeking citizenship in another country. The "intended" dual citizenship guarantees that a person who obtains citizenship in another country maintains his Sri Lankan citizenship without any break.
Dual Citizenship Sri Lanka Application: Click Here
Department of Immigration and Emigration Sri Lanka: Click Here
Dual Citizenship Application Status: Click Here