Finding property in Sri Lanka

Hi ms. Kristella,I can help you find a house,its nothing to worry about. just go to this link you can find much as you want. ikman.lk ye the prices are right,because this is a sri lankan website,and they are not targetting to sell them on tourists. If you need more help let me know,i can help you.

Thank you for your answer! I also haven't quite understood about the 100% tax when buying property. What are the other opportunities ? I already know that apartment from 5th floor does'nt have tax and when you lease property for 99 years eg, there is smaller tax. But I want to buy property for investment and for myself so if you could tell me where to get information about the taxes I would be very happy.

How long does buying a property usually takes? I mean, a month? Few months?

Thanks!!

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Hi Kristella!

I'm in the same situation as you, looking for freehold property.From all the information I gathered it is best to buy from foreigner who have freehold property or to buy land only , pay 100% tax, so the freehold is yours and build. Dogs are allowed as I read that everyone with villas have dogs.
regards

Hi kristella,

If you are still interested in this I could help you out by finding a place or 2 so you could come & look into it. Or else I could mail you the information along with some pictures I got.

Awaiting for a favorable reply from you.

Thank you,
Roshan Gurusinghe

Try with lankapropertyweb.com my friend. I used that site to find the rental properties and they do have bunch of properties for the sale. Most of the advertisements are directly linked to the owner.

Thanks for your answers. It will have to wait a little, since I need to sell my property at home first. I will keep an eye on here and will get in touch with you when I have some progress here!

Thank you

Kris

Kristella

A friend of mine own a really nice nature friendly home in Kiribathgoda and he want to sell the property. if you want i can ask him to email you the images?

The garden is full of trees, shrubs, pets such as aquirrels, birds everywhere.

Cheers

Nishan

The best way to buy a house is to put forward your parents if they are above 55 years old or grand parents.
Cheers

Nishan

As a foreigner you will pay 100% tax on your purchase - so double cost (price of property and 100% tax). Purchasing can be tricky - there are many conmen with fake deeds. On 24th February changes were made to the Land Act in Sri Lanka and details are not yet clear.  It seems that the new rules will be that property can only be sold to a Sri Lankan and that in the future land may become leasehold and not freehold as it currently is. (As wth everything in Sri Lanka, things change, or they may not) You would be better to rent initially as the Land Act changes may be devastating for foreigners - once the facts become clear.  Changes to the Land Act were declared in the Budget last November and put in place 24th February 2013 (but actual details are still not known). Hope this helps.  Don't think taking your dog in would be a problem.  Tics are a huge problem and obviously rabies.

Thank you for your answer. It seems that buying property in Sri Lanka has become more complicated.
I would really love to move there. I guess I have to do some more research and rethink things.

Kris

Agree.  Because of the increased difficulties for a foreigner buying property in SL, the smart buyer is now looking at Myanmmar (Burma)where they are very keen for foreign investment, having been "closed" for 50 years.  I have just been to an investment conference for Asia Pacific region held in Singapore last week. Definately the "buzz" is on Myanmmar and definately the foreign investors are now ignoring Sri Lanka due to the recent changes in the Land Act.

Everyone has covered most of the topics. Our laws are about to be changed, but the actual regulations have not been released as yet and it is meant to preserve cultural heritage etc. You should first come and have a familiarization tour and at this point meet with a recognized lawyer and discuss options. Further note, you have several options to live here : being young and for sure I believe you are not over 55 years of age, there is the Resident Guest Scheme program you can investigate too.

If you need any help once you come for a familiarization tour, please feel free to connect.

you can join with me as a share holder

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Ok, thank you for your answers. As it seems, Sri Lankan laws have been changed and foreigners are not welcome anymore. ItŽs actually pretty sad, because Sri Lanka would have been a great place for us to move.
I will take a new look at the world map.
Thank you all

Dear Kristela

Yes the act is slightly changed, but there are loop holes still you can own a property here, which you need to work out with a local partnership or come as a BOI investor.

If you are BOI investor you get resident visa, 5 year tax free to import anything from outside of Sri Lanka etc. I am not the best person to explain this but I can get someone to answer the questions you have.

I know there is a sceme opened up by the government called "My dream House" here is the youtube link

https://www.youtube.com/watch?v=GBZ3gkm1Fko

my email is [email protected]

We can communicate further

Cheers

Nishan

Hi Kristela,

In Malaysia, you can buy properties and also look at 2nd home permit which will enable you and your husband to have free visas for 10 years and extendable. Two Children below 18 years also included until they are 18yrs.

If you are interested I can get you more details.

In Maldives you can take long leases of properties and some in Islands will reach affordable. You can make easily obtain visa through a work permit or by registering your own business that is accepted by foreign investment. There are some businesses that may not require substantial investments as well.

I hope above information is of some use.
Rasheed

makhma wrote:

Hi Kristela,

In Malaysia, you can buy properties and also look at 2nd home permit which will enable you and your husband to have free visas for 10 years and extendable. Two Children below 18 years also included until they are 18yrs.

If you are interested I can get you more details.

In Maldives you can take long leases of properties and some in Islands will reach affordable. You can make easily obtain visa through a work permit or by registering your own business that is accepted by foreign investment. There are some businesses that may not require substantial investments as well.

I hope above information is of some use.
Rasheed

Please remember, this thread is old by one year.
Next thing is she was interested not in Maldives/Malaysia  but in Sri Lanka.  You better post your threads in Maldives/Malaysia forums.

Noted.
But if you see I did not write only about Maldives. I also mentioned Malaysia.
Some how it appeared in mt mail and I did not check how old the discussion was.
I only thought of helping out, beyond that I have no need to write in this forum.
Thanks