Press briefing of Cabinet Decision taken on 2013-02-21

Implementation of Budget Proposals - 2013 - Prohibition of outright transfer of property to foreigners

- taking into consideration the increasing demand for foreign investments with the expansion of development activities of the Government, Cabinet approval was granted to make regulations under State Land Ordinance and to introduce amendments to the Notaries Ordinance and Registration of Document Ordinance, for the implementation of the following pertaining to State / Private lands in Sri Lanka:

* introduction of provisions to prohibit foreigners from purchasing absolute ownership of State / Private lands in Sri Lanka.
* to lease out such lands on long term lease basis without affecting the economic development activities of the country.
* the prohibition shall not be applicable for purchasing of lands for foreign Embassies / High Commissions in Sri Lanka.

The above proposals were submitted by Hon. W.D.J. Seneviratna, Minister of Public Administration and Home Affairs and Hon. Janaka Bandara Tennakoon, Minister of Lands and Land Development.