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Land (Restrictions on Alienation) Act No. 38 of 2014.

Country/Territory
Sri Lanka
Document type
Legislation
Date
2014
Source
FAO, FAOLEX
Long title
An 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