Freaquently Asked Questions
Yes, upon completion of construction, additionally with the COC (Certificate of Completion) issued, freehold clear deeds will be transferred.
If the shareholding of the foreign entity in a Sri Lanka-based establishment exceeds 49%, the commercial entity cannot own a freehold title on the property. However, in the instance where the foreign entity has 49% or lower shareholding in the local establishment, the property can be owned under a freehold title by the local establishment.
All essential and necessary approvals and clearances have been obtained prior to commencement of construction.
No, the land belongs to EMS Leisure Holdings (Pvt) Ltd. and carries a free hold title. If additional clarification is required involving the same, relevant documentation can be produced upon request.
Tentatively, two years from the date of commencement of construction.
Yes, valuation for the property is available for each plot of land. This was performed by a third party specialist, RICS-qualified valuer.
Our listed prices are inclusive of all government statutory taxes at the time of purchase. Additionally, 4% Stamp Duty along with the lawyer’s fee (typically 1% of property value) for the execution of the transfer deed shall be borne by the buyer.
Earth & Space, Stem, Rigo and 3G
Yes, upon completion of construction, each villa will receive their individual connections.
Yes, this option is available on a limited number of Villas. In the event a client selects this option, a fixed monthly fee plus variable return will be payable to the buyers and involve additional terms and conditions.
Yes, annually 21 free stay days will be offered subject to the relevant terms and conditions.
Owners are welcome to stay for a duration of their choice. However, should the stay exceed the 21 free stay period, they will incur service levies. This will be entirely based on chargeable facilities and services accessed during the extended stay. Further details could be obtained in the terms and conditions document provided at the time of signing the SPA.
The developer can manage the property on behalf of the owner by way of entering into a Caretaker Agreement subject to the relevant terms and conditions.
The Developer will offer a 1-year defect liability period upon issuance of the Certificate of Completion (COC).
The developer will maintain all common facilities as listed in the SPA for a period of three years free of additional charges.
Yes, owners will have access to all facilities in the main building. Terms and Conditions apply.
Yes, any foreign national or entity can purchase one or more villas and it will be on long-term lease basis (maximum of 99 years lease).
Taxes will involve payment of Stamp Duty when the lease agreement is signed, on the value of the property for 20 years (maximum stamp duty is restricted to 20 years).
In order for a foreign individual or an entity to make a payment, it is recommended that the individual or entity first establish an Inward Investment Account (IIA) with any commercial bank in Sri Lanka, a process that could be facilitated by us. Once this is done, the bank will settle payments to the developer upon your instruction to do so.
Yes, your investment and capital gains can be repatriated back to the country of origin through the aforementioned IIA Account, which can be held in the currency of your choice and/or according to the options offered by the banking partner you select.
If the shareholding of the foreign entity in a Sri Lankan based establishment exceeds 49%, the commercial entity cannot own a freehold title on the property. However, in the instance where the foreign entity has 49% or lesser shareholding in the local establishment, the property can be owned under a freehold title by the local establishment.