Are foreigners allowed to own property in Panadura?
When we asked expats in Panadura if foreigners are allowed to own property, they answered...
"Foreigners are allowed to own property in Panadura, but there are certain restrictions and requirements they must follow. Foreign nationals can purchase freehold property, but they are not allowed to buy land directly. Instead, they must form a company in Sri Lanka and purchase the land through that company. Additionally, they are required to obtain approval from the Board of Investment (BOI) and the Land Ministry. It is also important to note that there may be additional taxes and fees associated with purchasing property as a foreigner in Sri Lanka. It is recommended to consult with a local attorney or real estate agent to navigate the process and ensure compliance with all regulations," remarked another expat in Panadura, Sri Lanka.
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Are foreigners allowed to own property in Panadura?
If you live in Panadura, newcomers to Panadura would love to hear your answer to this question: