Buying property in Sri Lanka on a visa: what each visa allows in 2026
No Sri Lankan visa lets a foreigner own land freehold. The Land (Restrictions on Alienation) Act No. 38 of 2014 turns on citizenship, not residence, so a Golden Paradise, My Dream Home or digital nomad visa holder buys exactly as a tourist does: a lease of up to 99 years, a condominium apartment, or a minority stake in a Sri Lankan company.
Does a residence visa change what a foreigner can buy?
No. Section 2 of the 2014 Act bars the transfer of land title to a "foreigner", meaning a person who is not a citizen of Sri Lanka, and to foreign companies and Sri Lankan companies with 50% or more foreign shareholding. A residence visa gives you the right to live in Sri Lanka; it does not make you a citizen, so the ban still applies. A deed that breaks it is void and the Registrar of Lands will not register it. The full rules are in can a foreigner buy land in Sri Lanka.
What a visa does change is practical: you can stay long enough to look properly, open bank accounts, supervise a build and manage a rental. Only a dual citizen buys freehold as a Sri Lankan does.
Which visas matter for property buyers?
| Visa | Who it is for | Main financial condition | Length |
|---|---|---|---|
| Golden Paradise | Investors | USD 200,000 deposit in a Golden Paradise Foreign Currency Account (other approved investments listed) | 10 years |
| My Dream Home | Foreign nationals over 50 | USD 15,000 fixed deposit, USD 1,500 a month remitted | 2 years, renewable |
| Digital Nomad | Remote workers | USD 2,000 a month of foreign income | 1 year |
Golden Paradise Visa. The Department of Immigration and Emigration lists a minimum deposit of USD 200,000 in a Golden Paradise Foreign Currency Account at a licensed commercial bank, half of which may be withdrawn after the first year. It also lists condominium purchases, leased land and buildings, Sri Lanka Development Bonds and other government-approved investments as qualifying investments, but publishes no amounts for them; ask the Department in writing before you rely on a property purchase to qualify. The fee is USD 200 a year, payable for the ten-year term, and the visa covers your spouse and dependants.
My Dream Home Visa. For foreign nationals over 50 (the Sri Lankan embassy in Berlin gives the age), with a USD 15,000 fixed deposit at an approved bank and USD 1,500 a month remitted for living costs, plus USD 750 for a spouse and each dependent child. Holders need medical insurance, may not work in Sri Lanka, and need the Controller of Exchange's approval to withdraw the deposit. The fee is USD 200 a year per person.
Digital Nomad Visa. Launched at Bandaranaike International Airport on 26 February 2026, for one year, with a minimum foreign-currency inflow of USD 2,000 a month. It is a visa to live and work remotely, not an investment route.
The Department also runs a Resident Guest Scheme and permanent residence visas; ask it for the current conditions, which change by gazette.
What can a visa holder buy?
- A lease of up to 99 years on land or a house. This is the usual route for a villa plot. See the 99-year lease explained.
- A condominium apartment, freehold in your own name, on any floor, with the whole price paid upfront by inward remittance before the deed. See buying an apartment as a foreigner.
- A minority stake in a Sri Lankan company that owns land, with foreign shareholding below 50% for 20 years after the transfer. See buying land through a company.
On the south coast, the median asking price for land was LKR 907,856 a perch (about USD 2,730) across 160 agency listings on 3 November 2026; a 20-perch plot at that price is about LKR 18.2 million (about USD 54,600) before costs. See land prices per perch.
How do the land taxes work for a foreign resident?
The old 100% tax on land transfers to foreigners and the 15% land lease tax are both gone; see Sri Lanka land tax for foreigners. What applies in 2026:
- On a lease: stamp duty of 2% of the aggregate rent since 1 April 2025.
- On an apartment: stamp duty of 3% on the first Rs 100,000 and 4% on the balance, and VAT may be included in the price of a new unit.
- On a sale: capital gains tax of 15% for individuals (from 3 June 2026) and 30% for companies.
- On rent: rental income from Sri Lankan property is taxable in Sri Lanka.
- Tax residence: under section 69 of the Inland Revenue Act No. 24 of 2017, a person present in Sri Lanka for 183 days or more in any 12-month period is resident, and residents are taxed on worldwide income. A long-stay visa can therefore make you a Sri Lankan taxpayer; take advice in both countries.
Budget about 5% to 7% on top of the price for duty, legal fees and survey: see the real cost of buying land.
How should I bring the money in?
Bring purchase money through an Inward Investment Account (IIA) in your own name and keep every remittance record; it is how you prove the inward remittance for an apartment and repatriate sale proceeds later. The Golden Paradise deposit sits in its own account, separate from the purchase money. See sending money to buy property.
Frequently asked questions
Can I buy land in Sri Lanka if I have a residence visa?
Not freehold. The 2014 Act applies to anyone who is not a Sri Lankan citizen, resident or not. You can lease land for up to 99 years, buy an apartment, or hold a minority stake in a company. Check with a Sri Lankan lawyer before you sign.
Does buying property give me a visa?
Not automatically. The Golden Paradise Visa lists condominium purchases and leased land and buildings among its qualifying investments, but the Department of Immigration publishes no amounts for them. Ask the Department in writing whether your specific purchase qualifies before you buy.
How much is the Golden Paradise Visa deposit?
At least USD 200,000 (about LKR 66.5 million) in a Golden Paradise Foreign Currency Account at a licensed bank, according to the Department of Immigration and Emigration, for a 10-year visa covering your spouse and dependants. Half can be withdrawn after the first year.
Can a digital nomad lease a villa plot?
Yes. A lease is open to any foreigner, with or without a visa, but the digital nomad visa lasts one year, so plan how you will manage a long lease and any build from abroad. See buying land from abroad for powers of attorney.
Will I pay tax in Sri Lanka if I live there on a visa?
If you spend 183 days or more in Sri Lanka in a 12-month period you become tax resident and are taxed on worldwide income, subject to any tax treaty. Rental income and capital gains on Sri Lankan property are taxable there either way. Take advice from a tax adviser in both countries.
Sources
- Golden Paradise Visa: USD 200,000 deposit, 10-year validity, qualifying investments, Department of Immigration and Emigration
- Golden Paradise Visa brochure: USD 200 annual fee, investment categories, Department of Immigration and Emigration
- My Dream Home Visa: USD 15,000 deposit, USD 1,500 monthly remittance, 2-year renewable visa, conditions, Department of Immigration and Emigration
- My Dream Home programme: applicants over 50, Embassy of Sri Lanka in Berlin
- Sri Lanka officially launches Digital Nomad Visa facility (USD 2,000 monthly inflow, one year), Ada Derana, 27 February 2026
- Understanding individual residency for tax purposes in Sri Lanka (Inland Revenue Act No. 24 of 2017, sections 69 and 70), TaxAdvisor.lk
- Land (Restrictions on Alienation) Act No. 38 of 2014, Sections 2 and 5; Amendment Act No. 3 of 2017; Amendment Act No. 21 of 2018 (sources in can a foreigner buy land in Sri Lanka).
- Stamp duty and capital gains tax rates: sources in Sri Lanka land tax for foreigners.
- Perch & Acre price snapshot of 3 November 2026: south coast land median LKR 907,856 per perch (n = 160). US dollar figures at LKR 332.6 per US dollar.
General information, not legal advice. Laws and rates change; confirm every point with your own Sri Lankan lawyer before you pay a deposit.
