Foreigners can buy apartments / condominiums from ground level up, however lands cannot be purchased on freehold and can only be leased up to 99 years. A condominium is defined as a group of residences with shared facilities. The condominiums can be purchased provided that, the entire value shall be paid upfront through an inward foreign remittance prior to the execution of the relevant deed of transfer. Any private company with minority (Upto 49%) foreign ownership can buy or lease property in Sri Lanka. Under the current legislations, a foreigner can get in to the property market using the following options:

a) By leasing the property

b) By inheriting

c) By a gift from parents

d) Part of a private company with a local shareholding of above 50%

e) As a part of a locally listed public company

f) Buy an apartment / condominium (any floor)

g) By obtaining Dual Citizenship