Touching on land issue, the Minister of Development stressed that the policy of land ownership is still secure and well controlled in line with the formulation of the Land Code Amendment Order 2016.  In this regard Yang Berhormat Dato Seri Paduka Awang Haji Suhaimi bin Haji Gafar explained the Strata Act that is designed to enable people to own property in the form of building units.

According to the Minister of Development, the strata ownership is open to anyone, be they Brunei citizens, permanent residents or foreign nationals, subject to the consideration of the committee which approves the application for ownership of strata property.  In this regard, the land is not sold or its ownership transferred to the foreign national.  It remains the property of the original owner, namely the Brunei citizen, and that only units in the building on the said land are sold for a period of not more than ninety nine (99) years for in perpetuity land.  For leased land, it is one day less than the lease period and the remainder of the lease period should not be less than twenty (20) years.  The strata ownership application for foreign nationals also goes through an early screening by the Immigration and National Registration Department, Internal Security Department and Authoriti Monoteri Brunei Darussalam AMBD, before any consideration is made.  Hence, the land ownership policy for Brunei citizens is secure and controlled in line with the Land Code Amendment Order 2016.

Source:
@BRUDIRECT.COM

by BruDirect.com

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