The Union Parliament approved the Condominium Law to allow 40 per cent foreign ownership
22 Jan 2016
On 22 January 2016, Myanmar’s Union Parliament passed the Condominium Law that will permit foreigners to own up to 40 per cent of a condo building. The Condominium Law applies to high-rise residential buildings having at least six floors which should be built on an area larger than 20,000 square feet. While foreigners are allowed to own a condo up to 40 per cent, the law stipulates that foreigners are not permitted to 'manage' condos.
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Entry and establishment (Access to land)
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