Buying Lands In Sri Lanka

Hi,

I am a foreigner and would like to get some legal advise.

can you give a quick legal update on the land buying situation? We see from the news that since 2011 apparently the 100% land sale tax for foreigners is going to be scrapped but what is the current situation on that now?

If we were to set up a company to buy land in Sri Lanka, would a foreign entity be able to buy the land? Are there any disadvantages to using say a Singapore incorporated company to buy land in Kalpitiya?

If alternatively we are to incorporate a 100% foreign owned company in Sri Lanka to buy this land, what are the advantages? Would incorporating the company take a significant amount of time?

Also, how is the ownership of the land? I was under the understanding that foreigners can own the land in perpetuity but the news seems to indicate that ownership is for 99 years or 30 years ?

How should the funds for purchase be paid to the seller? By electronic wire or?

Thanks in advance for your help!