Purchase of property by foreigners who do not have dual nationality or do not have a company incorporated under Sri Lankan Company Law with the approval of the Board of Investment of Sri Lanka (BOI), will be subject to a purchase tax of 100% of the value of the property purchase price. Please contact us for further advice on how such purchases can be structured to ensure that it is legal, saleable, transferable, be exempted from paying the 100% tax on the land purchase.

Foreign Property Developers desirous of embarking on property development projects in Sri Lanka should be mindful of the laws of the county and the approvals and concessions available under the Board of Investment and Urban Development Authority regulations and laws. It is advisable to incorporate a company under Sri Lanka Company Law along with approval of the Board of Investment of Sri Lanka where the 100 % Tax may not apply.Please contact us for further information and assistance.

Tax concessions are available depending on the type and value of the investment through the approval from the Board of Investment of Sri Lanka.Please direct your enquiries to us for an initial brief.