Buying an ON House
The entire development is owned by Golden Corals Ltd, a registered Sri Lankan approved BOI (Board of Investment) Company owned by British and Canadian shareholders. Under latest laws in Sri Lanka, freehold ownership is only available to Sri Lankan nationals or Sri Lankan registered companies. Golden Corals Ltd. has received BOI approval to lease the property and the villas to an offshore company (already set up in BVI), that can therefore enable non-residents to have a 99-year leasehold ownership that is fully transferable. The leasehold agreement structure, uniquely created for each individual villa to have its own sole owner with legally protected property rights, is available for legal review by interested buyers prior to making any commitment.
Management & Maintenance
The external area of the villas and common area facilities are managed by a dedicated staff trained and supervised by the On Houses Manager, to ensure a consistent quality of services and standards. This includes general administration and management, landscaping maintenance, routine and preventive maintenance, general repairs, pest control, refuse collection, pool cleaning and 24-hour security.
Owners are responsible for the payment of management and maintenance fees to properly maintain common area infrastructure and amenities. Owners are also responsible for specific charges such as electricity, water and sundries for their individual ON House. A development fund contribution may also be required from owners, by agreement, for any major infrastructure repairs and/or improvements.