A Citizen or Not: The Process and Concerns of Buying Property in Sri Lanka as an Expat
May, 6, 2021
With the recent changes in the law welcoming expat Sri Lankans to purchase property in the country, LankaPropertyWeb interviewed Attorney at Law Saminda Jayasekara regarding the feasibility of this option and the barriers to overcome in the process.
As a local, there are no restrictions on purchasing property in the country. Whether it is owning a land, apartment or investing in a commercial property, you have the liberty to select among a range of options available in the market.
However, as a foreigner, there are certain restrictions. While the option of purchasing a residential or commercial condominium property is available, with lands they can only be leased out for a period of 99 years.
By Lanka Property Web
With the recent changes in the law welcoming expat Sri Lankans to purchase property in the country, LankaPropertyWeb interviewed Attorney at Law Saminda Jayasekara regarding the feasibility of this option and the barriers to overcome in the process.
As a local, there
are no restrictions on purchasing property in the country. Whether it is owning
a land, apartment or investing in a commercial property, you have the liberty
to select among a range of options available in the market.
However, as a
foreigner, there are certain restrictions. While the option of purchasing a
residential or commercial condominium property is available, with lands they