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By Staff Reporter : PNG Today

Vanuatu government moves to tighten land laws concerning non-resident investors

Vanuatu Government has moved to address loopholes in the land legislation to address challenges posed by non-resident investors.

Parliament was told last week that there are certain foreign investors who have acquired land leases in Vanuatu but are not paying land rents due to their non-residential status.

This comes following the government’s decision to tighten up the land legislation through an amendment bill that was passed by parliament at the end of last week.

The amendment enables non-residential investors to now have to meet the land lease requirements like investors who are residents in the country.

Minister for Lands, Ralph Regenvanu confirmed there are non-resident investors who have acquired land leases through the loopholes in the legislation.

He said that is the reason why the Land Leases Act was brought to Parliament for approval.

Mr Regenvanu explained that under the new amendment any company or individuals wanting to invest in Vanuatu will now have to provide accurate information and legal documents to prove their existence. Loop Vanuatu

Posted by Staff Reporter : PNG Today on 4:19 PM. Filed under . You can follow any responses to this entry through the RSS 2.0. Share this Article


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