Property Ownership for Foreigners
Individual freehold ownership
You can buy and register property in your name in Sri Lanka. When purchasing property in your name you'll pay 100% taxes. Not many foreigners choose this way of ownership.
Leasehold ownership for 99 years - tax free
When getting hold of a property by leasing it for 99 years, you'll enjoy the same rights as the owner of a property. Your lease will be registered officially and you can assign the remaining years of your lease any time without further permission of the official owner. You can even enter into an agreement with the owner allowing you to sell the property. Many foreigners choose this option.
Freehold ownership through companies
Foreigners may - without being taxed - purchase a company that owns a property. There is a variety of legal ownership options with or without a local trustee (usually being a lawfirm). In addition the Board of Investment (BOI) offers tax-free ownership of property for investor you start certain businesses on their land. This complex legal matter should be discussed with legal specialists. We can recommend the most experience and best reputed lawyers for that purose.