Why is the Sri Lanka Government a Problem for Investments?

Sri Lanka Investment Problems

The government is changing their decisions very often. For example in the year 2013 it was not possible to sell your own property if you have any in Sri Lanka to other non local Sri Lanka people! You can only sell to local Sri Lankan people. The people in Sri Lanka know this! So if you have to sell you property you will lost many money! The Sri Lankan people will only pay a very poor price! Also in 2013 the government made the decision, that no foreign people can buy properties in Sri Lanka. You can only make a long term rent with 100% tax additional. The second way is to establish a company in Sri Lanka and by then the property. But!!! More than 50% must be owned by a local Sri Lankan person. In 2014 they will change the roles again.

If you speak with a lawyer in Sri Lanka, he will say to you, this is no problem. You can make an agreement with you local company partner therewith you local partner has no rights.

Forget this! Agreements in Sri Lanka have no value! Only if you have more than 1.000.000 US you can go to the court because everybody is asking for black money if you need anything.

When you need anything from a civil servants you have to pay black money! Otherwise you will not get any permissions in Sri Lanka!

 

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