I have a plan to buy some properties and living in Sri Lanka.

Hi Sergio,

I created a new topic from your post on the Sri Lanka forum for better interaction.

Regards,

David.

Dear Sergio,

Buying a property is a very complex decision due to the irregularities in the legal frameworks.
Country has recently abolished the 100% foreign ownership for the properties.
You can seek a leasehold else shall go for a high rise condo.

Could you kindly PM me the investment capacity, purpose of the investment etc.

Probably we can discuss much easier and risk free method to address your interests.

Thanks,
Yas

Sale of land to foreigners has been prohibited from the 2013 budget. Instead the land can only be leased out (for up to 99 years, with tax of around 5-10%). Foreigners can now buy land if their investment in the project is over $10 million.

[Moderated: please post in the business partners classifieds in Sri Lanka section pls]

Sergio, Are you married to a SL?

I have been in business' and land in SL since 2000, and I finally left due to all my losses in land and business. It is nearly impossible to survive as a non-SL, and truthfully I just don't like it there since the previous president left. Now it is basically a dynasty stealing from the poorer of SL and making a large force of Burghers and Sinhalese arogant fools.

I own several plantations in which I have been selling off at 50% loss of profit. Energy is three times the rate to developed nations, and it is just plain dirty and nasty for me anymore. They did build that dead Shipyard on borrowed money they can't repay, and the roads have improved, but the country is in errors to repay, and due to cheap building are already having problems.

You should really look to Malaysia or the Philippines due to economic strength, because SL is rated around the second or third from the bottom of worst nations, and this is why investors have stopped, same as me. I had only $300,000 invested in a warehouse complex, and due to all the illegal govt red-tape, and bullying I finally sold it for $ 100,000 at a loss of $200,000, and I was happy to get that after trying for 4-years.

You can do nothing but loose in SL, and that is guaranteed!

I had so many investments set in motion, only to be stopped or deceived but govt officials, and nearly every one of them must have their pockets lined with too much Lakhs! I departed in 2013, and my life is so peaceful and happy now, but I am still selling my originals lands at a 60% loss of profit, so basically I can only break even after all this investments. I am the lucky ones, most Europeans or Americans have had to run at great losses and count it all good.

You should really look at surrounding nations, but not in ME or Persia, your only peace in this area is in Malaysia and Singapore, I can only warn you of all this, and I could give you true stories that would send any foreigner packing to the airport in minutes, because this country is not even good for it nationals, and I can vouch for that, because my wife is a Sinhalese, and she is trying to get everything sold so she never needs to return for the remainder of her life, she hates what SL is and how it is operated by the Govt and Police, all crooks from the top down!

Referring to Hookra's comment... 80% of his issues are due to mis management... probably he is part of the previous president's gang... used political influence to build his business empire....
Compared to Russia, Sri Lanka is a better place for investment...

if you are after large scale, government backed investments, yes they are corruption prone...
But in overall, small to mid size businesses are blossoming...

If you analyze the FDI patterns, many SMEs entered in to the country...

Country is becoming a better place for the knowledge based economy and over the last 5 years workforce got doubled so does the revenues from the industry...

Like in any other Asian destinations, investment on property is not a wise move...

Prices are artificially high and ROI is very less... On the other hand GOSL abolished the 100% foreign ownership.

I am not going to get in a throwing match with you, but you are ignorant to your own country, in the previous days i made great gains on investment and could build infrastructure that helped the people, now under the corruption, I must pay anywhere from 20 -50 lakhs for business investments to MP or their people, and I even sat next to the top officials who required so much cash funds in hand just to conduct fair business; that help the everyday SL person. Dont lecture me unless you have  lost nearly 1-million  in funds.  Who comes to SL to start up little business making 20-30 thousand rupee per month, you don't even know what you are comparing to, I lived here, I know the facts

Check the PM Hookra...

Whats your core business line ??