Guesthouse/Tourist Residence projects involving Non-Citizens
Following a communiqué issued by Ministry of Tourism & External Communications on 3rd May 2016, a non-citizen will not be allowed to invest in and manage a guesthouse/tourist residence.
A non-citizen will only be allowed to manage residential property under the following schemes:
* Integrated Resort Scheme (IRS)
* Real Estate Scheme (RES)
* Property Development Scheme (PDS)
and should satisfy the following criteria:
- An individual owner of a residential property under IRS/RES/PDS cannot rent except if the application is made by the IRS/RES/PDS Company or a Property Management Company designated by the IRS/RES/PDS Company.
- The minimum number of units should be six.
- The non-citizen must have a track record in management and show evidence of previous managerial positions held in similar establishments.
- Except for the Managing Director, all employees should be locals.