Buying Lands In Sri Lanka

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Member since 27 September 2012

castlegardMember27 September 2012 15:21:37

Hi,

I am a foreigner and would like to get some legal advise.

can you give a quick legal update on the land buying situation? We see from the news that since 2011 apparently the 100% land sale tax for foreigners is going to be scrapped but what is the current situation on that now?

If we were to set up a company to buy land in Sri Lanka, would a foreign entity be able to buy the land? Are there any disadvantages to using say a Singapore incorporated company to buy land in Kalpitiya?

If alternatively we are to incorporate a 100% foreign owned company in Sri Lanka to buy this land, what are the advantages? Would incorporating the company take a significant amount of time?

Also, how is the ownership of the land? I was under the understanding that foreigners can own the land in perpetuity but the news seems to indicate that ownership is for 99 years or 30 years ?

How should the funds for purchase be paid to the seller? By electronic wire or?

Thanks in advance for your help!

础耻谤茅濒颈别 ViP

Member since 02 May 2012

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础耻谤茅濒颈别ViP28 September 2012 05:36:14

22735

Hello castlegard.

Welcome to 禁漫天堂!

Hope you'll soon find answers to your questions.

Thank you,
础耻谤茅濒颈别

enigmarie Member

Member since 20 August 2017

enigmarieMember19 September 2017 17:03:03

The best way and the safest way is to lease land.

Moderated by Chris 7 years ago
Reason : Please post your advert under the Housing section.
We invite you to read the forum code of conduct

Chris ViP

Member since 08 June 2015

ChrisViP20 September 2017 09:15:40

1858

Hi enigmarie,

Please note that this thread was inactive since 2012, you might not get a response from the initial poster.

Feel free to participate on recents threads of the Sri Lanka forum.

Thank you

Chris
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