The Sri Lankan parliament passed the law banning the sale of land to foreign citizens, on Monday night, reports Reuters.
The Land Bill, will mean that foreigners will only be able to lease land for up to 99 years.
The law will also prevent companies and firms that are over 50% foreign owned from buying land.
See more here.
Related articles:
Rajapaksa instructs Cabinet to expedite land sales restrictions to foreigners (01 Oct 2014)
New bill will restrict land ownership by ‘foreigners’ (10 Sep 2014)
Cabinet approves bill prohibiting land sales to foreign citizens (15 Aug 2014)
The Land Bill, will mean that foreigners will only be able to lease land for up to 99 years.
The law will also prevent companies and firms that are over 50% foreign owned from buying land.
See more here.
Related articles:
Rajapaksa instructs Cabinet to expedite land sales restrictions to foreigners (01 Oct 2014)
New bill will restrict land ownership by ‘foreigners’ (10 Sep 2014)
Cabinet approves bill prohibiting land sales to foreign citizens (15 Aug 2014)