Land (Restrictions on Alienation) Act No. 38 of 2014. Country/Territory Sri Lanka Document type Legislation Date 2014 Source FAO, FAOLEX Long titleAn Act to make provisions to stipulate Restrictions on the Alienation of Lands in Sri Lanka to foreigners, Foreign Companies and certain Institutions with foreign shareholding; to specify the circumstances where the exemptions are granted; to impose a Land Lease Tax for leasing of lands to foreigners, Foreign Companies and Certain Institutions with Foreign Shareholding; for the granting of Concessions to certain Development Projects; for the repeal of Part VI of the Finance Act, No. 11 of 1963; and to provide for matters connected therewith or incidental thereto. Subject Land & soil Keyword Ownership Land tenure Land-use planning Lease Legal proceedings/administrative proceedings Foreign land tenure Environmental planning Policy/planning Geographical area Asia, Asia and the Pacific, Indian Ocean, South Asian Seas, Southern Asia Entry into force notes This Act enters into force on 1 January 2013. Abstract The Act, consisting of 25 sections, makes provisions to stipulate restrictions on the alienation of lands in Sri Lanka to foreigners, foreign companies and certain institutions with foreign shareholding; to specify the circumstances where the exemptions are granted; to impose a Land Lease Tax for leasing lands to foreigners, foreign companies and certain institutions with foreign shareholding; for the granting of concessions to certain Development Projects. In addition, it specifies that the transfer of title of any land situated in Sri Lanka, shall be prohibited if such transfer is: a) to a foreigner; or b) to a company incorporated in Sri Lanka under the Companies Act where any foreign shareholding in such company, either direct or indirect, is fifty per cent or above; or c) to a foreign company, unless exempted as provided in section 3. Full text English Website www.ird.gov.lk References - Legislation Amended by Land (Restrictions on Alienation) (Amendment) Act No. 21 of 2018. Legislation | Sri Lanka | 2018 Keyword: Land tenure, Land-use planning, Legal proceedings/administrative proceedings Source: FAO, FAOLEX