Sri Lanka: New rule stops foreigners from owning land

Sri Lanka: New rule stops foreigners from owning land

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News360 reports that the Sri Lankan cabinet has decided to prohibit foreigners from purchasing absolute ownership of state and private lands in the country.

However, land can still be leased on a long term basis.

The Government Information Department says such prohibition shall not be applicable to foreign Embassies and High Commissions in Sri Lanka.

Steps will be implemented to bring the amendments to the Notaries Ordinance and Registration of Document Ordinance to implement the decision.

 

 

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