Integrated Tourism Resort Program
Kalpitiya - Puttalam
Puttalam
LOCATION
556 Acres
Land Extent
USD 200 Mn
MINIMUM Investment
Project overview
This development will partially address the demand for at least 30,000 rooms needed to meet the government ambition of 2x 2019 tourist arrivals in the next 5-7-year period.
Two of 14 islands are currently available for investment opportunities (308 acres & 248 acres).
Project/ownership structure
Public Private Partnership, Foreign Direct Investments (FDI), Domestic private investment
Project incentives:
Income tax holidays under the Strategic Development Projects (SDP) Act for up to 10 years based on investment specifics.
Waiver of border tariffs & sales taxes on construction material including exemption from CESS.(cost savings of 30% – 40%)
Exemptions from VAT for services in respect of inbound tours.
Land Agreement/ownership: 30 years lease from the Government of Sri Lanka
Condominium units can be transferred on a free hold basis
Other incentives:
Dividends to non-resident entities are exempt from income and withholding taxes
Property and wealth taxes are not applicable in Sri Lanka
Strategic location
14 islands in the Kalpitiya peninsula were identified for this extensive tourism project, of which two islands are currently available for investment opportunities (308 acres & 248 acres)