Can Foreigners Buy Property in Sri Lanka?

Yes — foreigners can buy a condominium for sale in Sri Lanka, and this guide walks through exactly how. It covers what non-citizens can and cannot own directly, and how to buy an apartment in Sri Lanka as a foreigner without running into ownership restrictions.

What foreigners can buy directly

Under the Land (Restrictions on Alienation) Act, foreign buyers can purchase condominium units on or above the 4th floor of a registered condominium property outright, with full freehold title. This is the most common route for real estate investment in Sri Lanka for foreigners, and it applies to most new apartment and condominium projects listed on this site.

Buying below the 4th floor, or land

Freehold land and lower-floor units are generally restricted for direct foreign ownership, but can be accessed through a locally incorporated company, a long-term lease (typically up to 99 years), or in partnership with a Sri Lankan co-owner. Villas and standalone homes usually fall under these routes rather than direct freehold purchase.

The buying process

The process mirrors a standard property purchase: reserve a unit with the developer, sign a sale and purchase agreement, remit funds through an Inward Investment Account (IIA) at a licensed Sri Lankan bank, and register the transfer of title. Most developers and their sales teams are experienced working with overseas buyers and can guide you through each step.

Frequently Asked Questions

Can foreigners buy a condo in Sri Lanka?

Yes. Foreigners can buy condominium units on the 4th floor or above with full freehold ownership under Sri Lankan law.

Can foreigners buy an apartment below the 4th floor?

Direct freehold ownership below the 4th floor is restricted, but foreign buyers can still access these units through a locally incorporated company or a long-term lease structure.

How do foreign buyers pay for property in Sri Lanka?

Funds are typically remitted in foreign currency through an Inward Investment Account (IIA) opened at a licensed commercial bank in Sri Lanka.