The foreign investors are required to incorporate a resident company in Sri Lanka to run the business. Their investment will go into that company. The time frame for incorporating such a company is 10-14 days. Yes, A foreign investor can either purchase or lease land for any proposed project. If a foreign investor incorporates a company in Sri Lanka and buys land in the name of the company, a tax payment is not required.
Land is readily available throughout the island at competitive prices.
Companies incorporated in Sri Lanka are permitted to own land, irrespective of the company's ownership. Remittance of capital 18. The money or any other assets for the purpose of business should be brought in only after the approval of the business by the BOI and into the company's bank account. However, if due to valid reasons the money is to be brought in prior to the approval, there are temporary bank accounts available for foreign nationals. Share Investment External Rupee Account is one of the facilities.