Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Sunday, 17 February 2013
Lankans of foreign citizenship can now buy land
Persons of Sri Lankan origin currently holding foreign passports are to be granted concessions to invest in the real estate sector in the country.The concessions come in terms of the scheme of payment which was hitherto extended only to Sri Lankans living overseas, but continuing to hold Sri Lankan citizenship.
The Exchange Controller has offered concessions to Sri Lankans of foreign citizenship to allow them to purchase real estate in the country in Sri Lankan rupees, to be paid out from their Non-Resident Foreign Currency (NRFC) accounts.